Making Better Profits for Your Company
While personal reasons for going into business may vary, profit should be one of the goals for your new venture. What if it isn’t? Then it needs to quickly move up your list of reasons, or you may find it difficult, if not impossible, to succeed.
The late Jim Rohn, one of my favorite business mentors whose rags-to-riches story inspired millions, once said that success is a “numbers game,” and nowhere is this more true than in generating a profit.
So whether you’re uncomfortable with the idea of profit or you accept it as your company’s objective, here are three simple guidelines to establish a profit orientation both in your mindset and your operations:
Adopt a “for profit” mindset and accept the fact you need profit to survive.
This is easier said than done, but it can be achieved if you’re open to examining your beliefs about money, wealth and profit and committed to changing your point of view.
Jim Rohn also pointed out that while some religious teachings may promote the idea that it’s hard for a rich person to get into heaven, they don’t say it’s impossible. That’s an important distinction that may help shift your own perspective on wealth.
Also, consider that business is among the few games around that let anyone play regardless of social status, education or age, and that can produce substantial personal wealth in 10 years or less. Not a bad return if you look at business ownership as one of the best long-term investments you can make in yourself.