What's the most important factor to consider, measure and focus on in your company?
That new office space? No. The design of the website? No. A great sales team? No. A viciously re-negotiated postage meter lease? No. A good attorney? No.
All of these things are just parts of the puzzle. The most important thing to focus on in business is profitability. Period.
And you can't be profitable (even with a good amount of luck) if you can't see what's going on in your business.
Now I know what many of you are thinking... But I care about my customers! It's not about the profit! It's about my passion for what I'm doing! Yeah. I'm sure it is. I feel the same way about my clients, employees and business.
But riddle me this- how effective will you be if you're company is bankrupt? If you get behind in your taxes in order to cover rent? If your waking up at two in the morning with a panic attack because you can't cover payroll?
I promise you- I've been there. You will be a much more effective and passionate entrepreneur if your venture is profitable. Profitability begets flexibility. It buys freedom. Not freedom to fly off to Cayman and live on the beach....that's a different post.
I'm talking about freedom to take your dream in the direction you want. To be relaxed and real in your dealings with clients. Freedom that fills you up and makes you love what you are doing. Freedom to allow you to give back in all the ways you dreamed.
Focus on profitability first and all of your hopes and dreams of flexibility, contribution, passion and impact will follow!