Money Makers Myth #014 – Grow first before making a profit, once I’m bigger I’ll make a profitable
I used to believe this one too.
I used to think that I just needed more clients, I just needed more sales…
Once I was there…then the profit would appear.
But it doesn’t.
I know, I’ve been there.
I was earning a 6-figure annual revenue – yet profit…that was pretty close to nothing.
And the reason – I hadn’t actually focused on profit, I’d only focused on growth.
Because profit it not something that suddenly happens when you grow a business, it needs to be something that you plan for, something that you actually put in place…otherwise you just keep on spending everything you make (like you are now).
You need to get out of that habit and develop a profit habit.
You need to have an implementable profit plan, otherwise, the profit just doesn’t materialise.
Let your profit habit in place, get your profit plan in order…then IMPLEMENT.
Thanks ever so much for taking the time to read my post I truly hope you’ve found it useful and insightful. If you have any questions feel free to contact us!
I am Annette Ferguson, CEO of Annette & Co. Chartered Accountant, Profit First Professional and creator of the Business Wealth Engine. We’re also SUPER social so don’t forget to follow. Here’s to your success!