As a business owner, your #1 goal is to make money. Simple.
Money is the life blood of the business, if money stops flowing in the business, the business dies. It is a very simple metric to track, yet businesses collapse everyday because they lost track of their cash flow.
In most cases, it is the money you have that determines whether you can continue to operate as a business or if everybody goes home. The need for a business to make money is real and it is amazing that we suddenly need to remind people to make money.
These days, we have a whole new class of “businesses”, they usually call themselves Tech Startups – they launch without any business model or plans to actually make money. That works well in Silicon Valley for companies like Instagram and the rest, but it just cannot work over here because the landscape is totally different.
If your business is not making any money, it is not a business… it is a busyness and you ought to know the difference. We are nearly at a stage where people are actually afraid to put a price tag on their offers, looking at giving it away for free and we can talk about making money later.
As a business owner, you must have a mindset of how will we make money from this idea we have? That is the right question that will get things going in your mind.
A business owner needs to stop thinking about how can I raise more money for my business from investors, she really needs to think about how can I make more money for my business from my customers. Stop looking at raising money, make the money instead.
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Watching The World
- The Hewlett-Packard Company (aka HP, Laptop makers) is splitting into 2 parts.
- Elon Musk argues that we must put a million people on Mars if we are to ensure that humanity has a future.
- The Most High God conference starts on Thursday.
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