How to Focus on Profit (Without Being Greedy)
I think I may be giving off the wrong impression...
Recently I was listening to the Dave Ramsey Show and heard a caller ask about the system Profit First. My ears immediately perked up. My two worlds were colliding!
"I haven't heard of it," Dave's voice rang. "It sounds kind of gimmicky. People should come first, not profit."
My heart sank. I was tempted to pick up the phone and come to Profit First's defense. Instead I stepped back and tried to get some perspective.
The truth is, I can totally see how the phrase Profit First sounds like a greedy money scheme.
Now, I believe Dave didn't realize what the caller was referring to. Mike Michalowicz (the author of Profit First) speaks at many of Dave's events, including his EntreLeadership conference.
I thought more about this idea and realized I often censor myself when talking about profits. Why? Because I'm afraid people will think I only care about money!
The reality is that profits are an indication of people serving people well.
It's okay to prioritize profits. When profits are higher, that means you are more equipped to serve your customers and your employees.
In fact, you OWE it to your customers and employees to be highly profitable. A business that can't make payroll, or is unable to fulfill an order, is doing a disservice to their people.
So rest easy. Not only is it okay to focus on profit, but it's also necessary.
What's the best thing you can do for your clients and employees? Work with someone who is solely focused on your profitability! As a profit advisor, it's my job to ensure you maintain a financially healthy business. Click here to schedule a free call to see if working together makes sense.
Craig is a Certified Profit First Professional who is passionate about helping service based businesses become permanently profitable.