“Profitability is a fundamental part of our business and requires our full attention.”

Are you focusing on the right things?

Profit is simple: Inflow > Outflow

Too bad it doesn’t work out that easy. Or does it?

1. Inflow
   1. The best defense is a good offense
   2. Focus on your revenue first – you cannot cut costs to zero
   3. Develop a solid plan for keeping and growing revenue
2. Outflow
   1. Build efficiency – focus on big-ticket expense one at a time to get them under control
   2. Be frugal not cheap
   3. Think of your money as soldiers going out to bring in more money
3. Profit First
   1. We need to make profits the priority and take them first
   2. Parkinson’s law applies to your budgets too – cost will expand to available money – remove the profits so it is not available to spend
   3. Set your profits aside and do not touch except for cashflow support
4. Personal Too
   1. This applies to your personal life too
   2. Watch the inflow versus the outflow
   3. Money is soldiers going out to bring back more

Make profitability a top priority in your organization and home.

Take-Action Items:

1. Get your revenue right

2. Create efficiency and save on costs

3. Put profits first