Episode # 48 - Revenue is Not Profit!
There is sooooo much talk about “6 Figure” businesses and how that is supposed to be a barometer for success. But revenue is not profit. Revenue just means that you brought the money in, not that you get to keep it. Profit is what we are after. If it all goes back out the door, no matter how much comes in, we are not successful.
Quotes from this week:
- “Your revenue number isn’t the thing that makes you cool.”
- “It drives me MAD when I hear people talk about their ‘6-figure’ or ‘7-figure businesses’. It doesn’t mean anything. What matters is what you get to keep.”
- “If you want to reinvest everything into your business that’s fine but if all you do is run yourself ragged and not take anything home that’s not success.”
- “I can’t tell you the number of companies I talk to that think they’re doing great but may have the internet shut off next week.”
- “Success is that you have something left once everybody is paid, including you.”