Would you prefer to listen to this article? If so, please click here to listen.
Have you fallen victim to the “6 Figure Myth”?
You know, the myth that so many gurus perpetuate which implies that once you “break through” (sounds hard!) to 6 Figures, all will be well:
- You’ll pay off your mortgage and invest in a bigger home
- You’ll take multiple tropical vacations
- You’ll convert those 6 Figures to millions while working 4 hours a week
You get the idea.
Fact is, it’s a myth. All of it.
I see so many business owners who reach and exceed the 6 Figure mark, only to be “making” less than when they were “under 6 Figures”.
In fact, many of them have negative profits – yep, they made over $100,000 in revenue and had less than nothing left at the end of the year.
It’s not about revenue, it’s about profit.
Say it out loud. . .
It’s not the revenue. It’s the profit.
As a business owner, there’s one number which matters more than any other – PROFIT. It matters more than revenue, more than list size, more than ezine open rate, more than Twitter or Facebook friends.
At the end of the day, how much money are you keeping?
Making It Real: My Request To You
As a conscious business owner, you may be shaking your head believing it’s not all about the profit, it’s about the impact you’re making.
Absolutely. . .the impact is important; crucial in fact when it comes to feeding your soul. However, without the profit, you can’t stay in business and if you can’t stay in business, it’s a lot harder to make a substantive impact.
Here are a few simple-to-implement ways to keep your eye on the bottom line as you reach for the stars:
- Stay focused on the money by tracking how much you’re bringing in each DAY
- Schedule a “Marketing and Money” meeting with yourself each week where you track key metrics such as revenue, profit, unique website visitors, ezine conversion, open rate, etc.
- When creating new programs, products and services, know what your profit will be BEFORE you launch them.
By focusing strategically on both the marketing AND finances of your business, you can start increasing profits today, regardless of whether you’re currently making 6 figures, are a motivated 5-figure business or just starting out!
It’s about optimizing as much as it’s about creating.© Copyright 2013 Sandra P. Martini