Getting Out of Your Comfort Zone
December 14, 2023
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I remember it like it was yesterday. The date was January 2, 2002. I peered through the window of my airplane, taking in the sights
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In the early days of M & E Painting, my dream and goal was to have a million-dollar company. I never thought about why, or the importance of it, I just made sure that we chased and pursued that coveted top line number. It only took a couple of short years to arrive at that number, and from there, my next step was the multimillion-dollar level. As we continued to grow the company, we continued to reach for revenue.
In 2010, M & E Painting landed on the INC 5000 list of one of the fastest growing companies in the United States! We received a shiny plaque and a really cool logo to add to our marketing, website, and email signature. We even received a magazine mention. It was a wonderful stroke of the ego.
However, what I would have much preferred was to make a profit in 2010. While we were reaching for and racing towards revenue, we were not focusing on the thing we should have been. We were not focusing on the real number that matters. The number that fueled our growth and fed our families. That number is profit.
In 2010, we actually lost money and put ourselves in a little bit of a cash flow predicament. Our costs greatly outgrew the pace our revenue was growing. We expanded geographically too far and too fast with the wrong people. Through this experience I learned a few things that I would like to share in this week’s blog.
Revenue is for clout, awards, and feeds and fuels the ego. Profit is the lifeblood of your business and what feeds your family and the families of your team members. Too many entrepreneurs get caught up in revenue growth and growth for growths sake. Many entrepreneurs also look at their profit as an afterthought and leftover once they pay their expenses, instead of planning for their profit first.
I am not recommending that you do not grow your company and top line. I am recommending that you do not grow this top line if your bottom line will not follow. Always keep your profit as your focus, laser in on how to be as profitable as possible, then focus on top line growth.
For more free tools on how to grow your business and advance your leadership, click here.
I remember it like it was yesterday. The date was January 2, 2002. I peered through the window of my airplane, taking in the sights
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