One of the characteristics of a successful entrepreneur is they consistently make profit. Along with making a profit, they consistently keep and reinvest their profits to win financially. Last week, I wrote about how to be more profitable as an entrepreneur and discussed three key things relating to being more profitable.
One thing I failed to cover was this; profit is not just about money. Most entrepreneurs say and hear the world profit, and immediately think money. Money in (sales and revenue) minus money out (costs and expenses), equals your profit. This is typically measured in currency.
Profit is so much more than just currency. In life, leadership, business, and humans working together under a common goal and vision, things are exchanged all the time. Money is one, so are emotions, action, and energy. In any exchange, a tank, bucket, account, or domain of life is filled (sales and revenue) and is also expended (costs and expenses). What is left is the profit.
How profitable are you? How much is left? How much is left financially? How much is left emotionally? How much is left spiritually? How much is left of your accounts, buckets and domains of life?
How much are you holding onto, reinvesting and growing in these domains to consistently win in life and business?
My good friend Mike Michalowicz would smack me around for asking why your profit and our profit is a leftover. Click here to watch him on the Ted stage sharing why your profit formula is broken and how to fix it.
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