It’s really not hard at all to be profitable in your small business. Yet, the majority of small businesses barely break even, year after year. Why is this?
Unfortunately, there is a FALSE BELIEF in the entrepreneurial world that many business owners buy into:
Focus on growing top-line revenue, plow more and more money into the business, and it will grow. Somehow, if all goes well, you will have profit at the end of the year. Some years, you have a small profit; other years, you barely break even. This is the traditional way of running a business. IT DOES NOT WORK to create profit.
What does work?
In the last few years, I have taken my clients on a journey to profitability in their businesses. Many are now enjoying 10-15% profitability.
How are they doing this? It all starts with the Habit of Profit. For every dollar that comes into the business, our clients are transferring a percentage straight into a Profit Account – before paying bills. This one habit forces the business to run on a “smaller plate” for operating expenses.
Quite simply, our clients are taking Profit First. It’s a small change…with a huge snowball effect over time. Want to know more? Watch the short video below.
The Profit First cash management system is a game-changer for small business owners. Find out why, and learn how your business can become profitable IMMEDIATELY.