There are five reasons every small business owner needs to consider using profit as a stimulus to successfully drive their daily business performance.
Most business owners expect to make a profit. Expectations define the performance of their employees, the effectiveness of their product or service, the reputation of their business and the ability to improve their business.
Profit comes from accomplishing consistent results. Consistent results come from setting standards for what must be completed and accomplished every day. The standards you set should be reflective of your company values and serve as a compass for the direction you will grow in.
Profit is a number, not a trend or a plan. It's a result. Each day evaluation of your numbers will tell you if you're moving forward or back. Set a starting point and aim for a specific goal and you will be able to measure your progress. Daily numbers must be part of every core activity involved in your business.
4. Cash Flow
Cash and cash flow is vital. Profitable cash flow is even better. On a daily basis not all cash flow will be profitable, but setting and achieving a daily margin of profitability is critical to success. Successfully monitoring cash flow allows you to meet obligations and protect your future.
Profitable businesses are in the best position to capitalize on new and ongoing opportunities. Everyday be alert to new ideas, technologies, business investments and strategic alliances that you may want to take advantage of. Daily profitability gives you choices.
A profit driven business can take you to the success destination of your choice.