Is Profit the Key Driving Force Behind Every Business

Is Profit the Key Driving Force Behind Every Business

Unveiling the Key Driving Force

If you lack organisation, running a business can become challenging, but the process of getting organised is actually quite straightforward. In my previous blog post, I discussed the importance of taking your business to the market and shaping your desired future state. While there may be other motivations for starting a business, the primary reason for most individuals is to generate profit.
 
Undoubtedly, there are additional factors to consider. You may aspire to be your own boss, have the freedom to do things your way, provide valuable services to others, or enjoy the flexibility of selecting your clients and working hours. However, irrespective of the specific reasons, it remains an undeniable fact that profitability is the ultimate goal. Without the potential for profit, what purpose does the business serve? Therefore, making profitable choices is crucial, and fortunately, these decisions are relatively straightforward.
 
Let's delve into the key choices you need to make. First, consider how much profit you aim to achieve. Dedicate some time to reflecting on this aspect. Second, determine the means by which you will attain this profit. This entails identifying the areas where you will focus your efforts. Third, define the specific actions you will undertake in order to generate profit. This involves developing a clear understanding of how you will operate your business. Finally, establish the target customers you wish to attract. In essence, you must have a precise and unwavering focus on your market and the value you offer, while also ensuring exceptional efficiency in your operations.
 
As you progress and make these choices, each decision serves as a stepping stone to the next. Consider the following example: Begin with the question of how much profit you desire. Suppose you set your target at a million dollars. That choice is entirely yours. Next, determine the means through which you will achieve this profit. Let's say you decide to become a builder.
 
With this choice made, you can move on to selecting the specific services you will offer to reach your profit goal. Will you specialise in building decks, conducting renovations, constructing new homes, or focusing on second-story additions? Once this decision is made, it sets the stage for subsequent choices and so forth, ultimately leading to the pivotal question of which customers you want to attract. This progression brings your vision to life, highlighting the significance of organisation in navigating the complexities of business.
 
Fortunately, the process of getting organised is not arduous. The first step is simply jotting down your aspiration to become a builder who generates an annual profit of one million dollars by specialising in second-story construction. This exercise alone can bring clarity to your mind and solidify your future goals.
 
The second step is referred to as the "engage stage." It involves actively engaging with your business and breaking it down into manageable components.
 
Now, the next steps of this process will be explored more in detail in the next blog post. Watch out for our upcoming blogs and we’ll provide you with valuable insights and guidance to take your business to the next level.

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