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Don’t forget about the profit.

Oct 15, 2019 | 0 comments

Don’t forget about the profit.

Looking at your profit as a potential investment changes the decisions you make around your money.

by | Oct 15, 2019 | 0 comments

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Don’t forget about the profit.

“My business made me $500,000 last year!”

Whoa, awesome dude.

Sounds great, right? Lucky girl.

What that lucky girl didn’t tell you is that it cost her $437,000 to make that revenue.

We’re not thinking about profitability nearly as much as we should, and that’s a shame.

Not just because you want to know the real value of your business but, because a focus on profit actually shifts your whole focus to investment.

Your profit isn’t just what you’ve got left. It’s what you’ve got to invest. Investment equals growth and when we focus our attention on investment we focus our attention on growth.

Profit is the result of subtracting expenses from revenue. It’s what you’ve got to keep after all of the costs have been paid.

Which begs a whole conversation about what you consider to be costs (that’s another post, but don’t forget to consider what you pay yourself to be a cost!).

Looking at your profit as a potential investment changes the decisions you make around your money.

That retreat you want to attend… is it an investment? That course you want to buy… is it an investment? That new computer you want to buy … is it an investment?

If it’s just a cost of doing business, it belongs in expenses. Profit should be saved for investments.

 

Tell me in the comments…

What do you think? How do you look at your profits?

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