Why should making a good profit be a key focus in your business? Especially when you’re doing what you’re passionate about!
I’ve met so many amazing business owners who are not only brilliant at what they do but they love it. The trap that many fall into is undervaluing themselves and their business which leads to them thinking that making minimum money and profits is enough.
I resonate with this because I too fell into this trap. I believed that if I aimed for big profits in my business that I was being greedy so I was always content with minimum wage or making just enough.
However, as the years went on, the challenges got bigger and so the personal resource I needed to put into my business increased. In turn, my health and energy deteriorated and I found myself asking the question, “Why?”.
I am passionate about being able to give people the tools they need to successfully get on with business. I love seeing their success as a result of employing my services! However, I was giving this away at such a low price at a cost to myself and my future.
Was I qualified to help the businesses I was working with? Yes!
Was I delivering a valuable service? Yes!
Was I positively impacting businesses as a result of my services? Yes!
Were my customers happy and did they see value in what I was providing? Yes!
That is when I decided that I needed to concentrate on both: giving value and making money. Why? Because at the end of the day if my business was not making profits then it would impossible to grow. If I didn’t focus on giving value and making money then all I would be doing is working really hard to create jobs, take on stress, and put nothing extra in my pocket and most importantly I wouldn’t forge ahead into the vision I desired.
So think about your own business and ask yourself if you are only focusing on delivering value to your customers and not focussing on making a profit. If so what can you change to ensure your profiting from a business point of view as well as a person?
Director & Business Coach