I am going to keep this short and sweet.
It is my belief that if you wish to succeed in business you will have to focus from
day one on… Actually, before you get started you will need to focus on this one
over riding objective…
Profits!
Yes, I know you might have the best product or service. I know you might be the
best sales organization. And I get it that you are going to offer the best customer
service experience.
But guess what.
If you do not focus on making profits – then all you will have is this:
Sales and no ability to convert the sales into the necessary cash flow to support
them. Or,
A great product or service that no one will get to enjoy because you ran out of
money before you had a chance to show your customers how great this product
or service was. Or,
Customers who rave about your service but only in the past tense because you
are gone, gone, gone.
Understand this.
Focusing on profitability does not mean you offer poor customer service, or lousy
products, or put the price of your product or service out of reach of your
customers.
No – focusing on profitability from the beginning means that you understand that
to survive you need to succeed – and to succeed means you need to make
money. Therefor you need to understand from day one – what it will take for your
business to make money. And then you need to focus on using this
understanding in your operations and the decisions that you make each day.
Too many businesses wait till the end of the year to find out if they made any
money. That is a recipe for disaster.
So remember – focus on profitability.
Because after all – you are in business to make money!
Jim.
