I like the general thinking behind this – the importance of evaluating every business decision you make to determine whether it is a step forward (large or small) towards your ultimate business goals – but I have to disagree with the starting point that “Your business exists to make a profit.”

Many businesses do exist to make a profit and that’s okay, but businesses don’t have to have profit-making as their primary raison d’etre. (Profit-making above break-even point may, in fact, be the second or third priority of the business).

My business makes a profit above break-even point (and that’s good, because if it fell below break-even point it would still be my hobby rather than my business and I would still be commuting to an office job), but it doesn’t EXIST to do so. It exists to ensure that I don’t have a boss, or an unforgiving work schedule. It exists so that I can take holidays when I choose to, not when my workplace says I can. It exists so that I can spend my days engaged in something I enjoy and which helps others.

Since I relish my work, the level of proffit my business makes beyond subsistence is fairly immaterial. (Indeed, as I indicated above, my ‘business’ would still exist even if it wasn’t a profitable business).

Businesses can be thought of as ‘problem-solving organisations’. That problem can be, if you choose it, profit maximisation.

But it can be something else entirely.

I totally agree with the last two posts.

I’ve spent far too much of my time doing things that I should have been paying someone else to do. I recently realized that I need to focus on what I do best and partner with others to do the rest.

It’s also easy to get caught up in “busy work” that doesn’t produce profit for the business. Sometimes “good enough” is actually good enough. Perfectionism is one of the enemies of success.

Attaining success becomes easier when you first visualize the end result, then do the work to build the foundation, partner with others for efficiency, and finally, automate the process you’ve developed to maximize the potential for growth.

As a business owner, in addition to profit making activities, you may also need to engage in efforts to protect market share and your client base.

The Profitable Now?

Agree, but so much easier said than done.

We are humans beings Rich. We have our uncertainties, doubts and hopes.

Sometimes it is not obvious as to whether our actions will lead to profits, no matter how refined the game plan is, no matter how clear the overview of the whole battle field … even if the road is found, and even if the goal / target bullseye is a big a barn door!

In our business we are certainly committed, have found our vocation, have delegated what we must, have clear maps and take massive action only on the things that move us towards profit.

But … sometimes it pays to take time to stand and stare, to revisualise and remember the warmth, taste, smell, feel and glitter of the dream we are striving to reach.

Let’s not forget that.

As a result of applied focus on profit combined with taking time to re-visualise the dream for a few moments, this year will be our biggest ever.

Jonathan

Nina,

Sure, you *can* do everything a VA can do, but why would you want to? Your role as an entreprenuer is to be a “knowledge worker”. You run the business, learn what’s working, create a system for it and then outsource it.
Limited budget? You can get a full time VA for from $200 a month in the Philippines

Rick

Profit is key, cash is king!

Its tough when you start out in this business as there are always so many things to learn/to do. Knowing when to break away from “the doing” is the key, but for many people out there, until they make that first $, they continue to spend considerable amounts of money and time on what turns out to be yet another blind alley.

Never give up and get a mentor would be my thoughts-but just make sure that you choose very carefully when it comes to the latter!
Best wishes
Mike

Hi Guys,

it seems to me that you should put your’e skill set to its best use as much as possible and that if the more menial task can be outsourced leaving you more time to focus your energies to create better results (i e more income) then isn’t that the logical way to go?

“have the best day you can have ……its your choice”

Andrew Coates

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