The Key to Profitability
When it comes to making money the place we all begin is generating consistent monthly income. Once that hurdle has been achieved in order to continue to grow the next step is mastering profitability.
The key to this is managing the middle.
What I mean by that is found on your profit and loss statement. Profitability is found in between your gross income and your net income. It’s managing the expenses.
I want to challenge you to look at every expense on your profit and loss as an investment. Every dollar that you invest in making your company run, whether it is the telephone bill or your payroll, has a direct impact on your bottom line, your net income.
An investment means you are looking for a return on that investment (ROI). You are looking to build a company with profitability. It’s the profit that allows you to build the business you desire and live the lifestyle you deserve.
This is why we create a plan for our company and for our clients every year. The plan is what allows us to make decisions about what to invest in when so we stay on track for our goals. One of the goals we set is the profitability we would like to achieve for the year.
If your profitability is still not what you would like it to be I would like to invite you to give us a call.