Did you know that 60% Of Profitable Businesses Fail Because They Simply Run Out Of Money!
So, for today’s episode, I am going deep dive into how to position your mindset and business for double even triple your profits.
Hello Everyone! Let’s kick today off by discussing how to get more money and more profits!!
As I mentioned before, over 60% of profitable businesses fail because they run out of cash.
The keyword here is profitable!
Can anyone tell me how you can be profitable and still have no money?
That is because your Net Profit on the bottom of your P&L doesn’t mean that’s the amount of money you will have in your bank account.
You see, generating a profit is not the same as having cash flow (money in your business).
You can generate a profit and still not have enough money to pay yourself a CEO salary, cover your expenses and grow your business.
My goal for this episode is to break that cycle.
The first step is to Position Your Mindset & Business For Increase Profitability.
Today, we will discuss positioning your mindset for profitability.
First – Your state of mind determines your level of success.
You see, I believe that there is a difference between an Entrepreneur and a CEO.
These two individuals show up differently in business.
And the ultimate goal is to operate your business as a CEO!
- Suffers from a money lack mindset
- Their goals are either not written down and broken out
- Focused only on generating more revenue (you can earn 6- or 7-figures and still have NO figures in your bank account – and that’s the problem many entrepreneurs face
- Businesses cannot operate without them
- Operate their business based on a strategic profit plan
- Value their services/products; therefore, they charge what they are worth (they are not establishing their prices based on their competitors – with the false hope of beating them
- Track the progress, capitalize off their successes, learn from their mistakes and adjust accordingly
- Follows the money and leverages their numbers to grow.
With these critical differences, do you feel like you are an entrepreneur or a CEO?
Place your answer in the comments. Even if you are not where you desire to be, NOW is the perfect time to learn how to improve!
To shift from an entrepreneur to a CEO, follow the below CEO Next Best Steps.
- Begin with getting crystal clear on where you desire to be within the next 12-months, 24-months, and 5-years.
- Now reverse engineer your goals.
- What you must do today to reach your ultimate money and business goals within 12-months?
- As the CEO, it is YOUR responsibility to learn how to earn more money, control your money and KEEP more of your money in your business.
- Meaning get your finances in order and become fiscally responsible.
- When you become fiscally responsible, you begin to control your money instead of it controlling you.
So again, are you operating as an entrepreneur or CEO?