Updated: Nov 12, 2022
Are you focusing on profit in your business? Or are you putting it on the back burner and instead trying to get the highest top line revenue possible.
Many people brag about helping you make $5M or your first $1M in top line revenue. I am sure that sounds great.
But here is a question for you.
If you make $1M or lets say you're bless to make the $5M how much of the revenue do you as the owner actually get to keep. Meaning, put in your personal bank account.
Making 1M or even $5M does not mean you are profitable it just mean you had a good topline revenue.
One bad misconception I hear often is just wanting to break-even so I don't pay lots of taxes.
Could this be stopping you from a business that is recession proof. Think about it, if you made no money , you pay no taxes but no money will eventually lead to no business.
As the founder of your business the focus should always be on turning a profit. Its great to have a good top line revenue but what is even better is having a profit to help you live an amazing lifestyle to provide for you, your family and invest in opportunities for the future.
My clients operate businesses that are recession proof so they never have to worry about running out of cash. They get to take more money home because profit is important to the success of any business.
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