Recently, I was talking to someone, and they asked me why profit mattered.
I'll admit, was taken aback a bit. I felt like they were asking me why I needed to breath. It seemed so obvious to me.
Businesses need profit to survive over the long-term. And business owners need profit if they want financial freedom or just to support their lifestyle.
But profit is actually discussed very little in marketing you will see aimed at your business. Most strategists, business coaches, and consultants are focused on revenue. Very few are discussing profit.
And profit, more than revenue, is what really matters in determining if your business is financially healthy.
So it's no wonder the question gets asked. If no one is really talking about, does it really matter?
Hell yeah!
Profit funds investments that help you scale your business.
Profit creates generational wealth.
Profit provides money to invest in real estate.
Profit pays for college educations.
For private school for your special needs child.
It allows your spouse to retire.
To pay off your parents' mortgage.
To take that 1 month trip to Europe you've dreamed of.
Profit helps create that life you dreamed of when you started your business.
🎧 Tune into this week's episode and learn:
- Why revenue isn’t the best measure of your business’s financial health and what to use instead
- What entrepreneurial poverty is
- 3 actionable steps you can take to improve your profitability
Mentioned in this episode:
- Want to create more profit in your business. This is what I help clients do in my Purposeful Profit financial coaching and mentoring program. Book a call to continue the conversation.
Other resources:
- S Corp Tax Savings Calculator
- Get your Simple Financials Bookkeeping template
- Get Your 30 Days of Money Mindset Prompts
DISCLAIMER: The information in this podcast is for informational purposes only and does not constitute an accountant-client relationship. While we use reasonable efforts to furnish accurate and up-to-date information, we assume no liability or responsibility for any errors, omissions or regulatory updates.
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