Did you know that 80% of businesses today either barely break even or lose money? That means when you run a profitable company you are literally in the top 20% of the best business owners – just by turning a profit!
We start our companies for a variety of reasons – maybe it’s our passion, or we got pink slipped and needed to create our own job. It could be we got pulled in as a partner and then ended up taking it over, or were just born with that entrepreneurial “bug” and have to do our own thing (that’s me!). Whatever, the reason, we go into business to make money. It’s not a charity or a non-profit, it’s a for-profit business.
Plus, to live the lifestyle we have dreamed about, the company needs to enjoy positive cash flow. Nobody lays in bed at night dreaming about being in debt, having no idea how to make payroll, and trying to just make ends meet and keep the doors open another day.
So what’s the biggest blocker to having a profitable company?
The answer is simple, and it may surprise you. The biggest blocker is YOU.
That’s right. You.
While you are why the company has gotten to where it’s at today, you are also why it’s not seeing the profits you have dreamed about. The reasons are many – being too busy working “in” the business to give time and attention to the finances, or perhaps the numbers make no sense to you or even scare you, so you just avoid them at all costs. Whatever the reason it’s still on you. Until you put profitability on your radar it will almost certainly continue to elude you.
For years I thought if I just sold more, it would fix my cash flow. I got up to over $1M a year and guess what happened? It didn’t fix my cash flow, in fact it made it worse. Today I work with multi-million dollar companies that still have trouble making payroll and staying current on their debt obligations. Why? Because they didn’t fix the profit issue from the start. When you run in the black, and get into the habit of turning a profit, you can and will stay profitable at every stage of growth in your company.
The concept is certainly easy to understand – but it can be quite difficult to implement. That’s where getting help is key. Working with a professional who can help analyze your business and optimize it for profits is essential. You can certainly waste a lot of time and effort trying to figure it out yourself, but why? You can get the help you need, shorten the curve, and get to where you want to be faster and easier than going it alone.
If you are ready to see super-profits in your business, schedule a FREE 45 minute Breakthrough Session with me. We’ll discuss your current challenges and see if we are a fit to work together.