It is definitely worth stating at this point that there is indeed a difference between cash flow and profit.
Cash flow refers the revenue your business is generating. Profit is the actual amount of money that is truly yours, after you have deducted your business operating costs from the revenue.
Never for one second mistake cash flow for profit. You can sell a lot of stuff and still not make any tangible profit, Richard Branson of Virgin group learnt this the hard way while working on their first business, selling music albums.
Therefore, it MIGHT be important for us to sit down and think carefully about the profitability of the business. If your business doesn’t turn a profit, you will be unable to make the positive impact you’re striving for.
Of course, without cash flow, you cannot generate profit or even have a business in the first place.
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BUILD YOUR IDEA
This year, I want to assist 30 people to move their ideas from thoughts to reality, so I am creating the BUILD YOUR IDEA programme to get it done. I will teach you everything you need to know to convert your ideas into projects, businesses or startups. I do not plan to stop there, I also will offer some guidance as you step out to build out your ideas.
I have a track record of consistently moving ideas into products and startups. You will be getting access to practical knowledge, wisdom and ideas that I have gathered in my nearly 10 years of working in this field.
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Watching The World
- The Co-Founder and former Managing Director of online retailer Jumia, Tunde Kehinde and Former Chief Operating Officer of Jumia, Ercin Eksin have teamed up to start ACE Africa Courier Express, a logistics company
- If you are blind, this app makes strangers your eyes… meet the Be my eyes app
