Profit is the key to a successful business from "summary" of Profit First by Mike Michalowicz
It may seem counterintuitive, but the reality is that profit is the lifeblood of any business. Without profit, a business cannot survive in the long run. Profit is what allows a business to grow, expand, and thrive. It is what enables a business to weather the inevitable storms that come its way. When a business is not making a profit, it is essentially running on borrowed time. It may be able to stay afloat for a while, but eventually, the lack of profit will catch up with it. Without profit, a business cannot invest in new opportunities, cannot reward its employees, and cannot provide value to its customers. Profit is not just about making money; it is about creating a sustainable business that can withstand the ups and downs of the market. Profit is what gives a business the flexibility to adapt to changing circumstances, to take risks, and to innovate. A business that is not profitable is a business that is stagnant and vulnerable. In the end, profit is what separates successful businesses from unsuccessful ones. It is the difference between thriving and merely surviving. By prioritizing profit and making it a key focus of your business strategy, you are setting yourself up for long-term success. Profit is not just a goal; it is a necessity. It is the foundation upon which a successful business is built. Without profit, a business is just a house of cards waiting to collapse. So, if you want your business to succeed, make profit your top priority.
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