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Your business has the same issues as those I visited in Kenya. In the final analysis, there’s only one number in business that really matters, you’re Freedom Number. While I was in Kenya, I had seminars and workshops with everyone from large international businesses to egg vendors in the slums. I wanted to impress on them the importance of net profit, the money that is “left over” after you pay all your expenses including your income.
Once in awhile Mom would tell me on the way out the door to school that we were having hamburgers that night. But when I came in from playing to eat dinner, I found chicken on the table. I was disappointed by the switch, which was completely irrational because I like chicken just as much as hamburgers. But she had set one expectation and fulfilled it with another. I was an irrationally unhappy customer, but unhappy just the same.
The Sausage Vendor said he bought his sausages for a buck, and sells them for $.95. When challenged as to how he would make money, he said, “No problem, I’ll make it up in volume.”
Business owners focus on Revenue when they should be focused on Profit. If they focused on Profit, they would raise their prices more often.
You’re too busy making money; no business can survive that. Your business should give you both time and money. Not just money.
I started Crankset Group out of a desire to help small businesses in the Denver, Colorado area grow and mature. It continues to mature itself as we bring a lot of the tools and practices that I’ve created working one-on-one with business owners over the years online. Now these tools and resources are available to you.
Twitter is a great way to get ahold of me or interact with me.
I’d love to let you know what I’m up to from time-to-time.