I created a School of Entrepreneurship online. It’s a 3 1/2 year, (a 12-minute video a day) course at thesoe.com. Specifically, it is for contractors like me, but any business can benefit. (It’s better than college and far cheaper!) The title of this post is one of my favorite maxims in the School.
Yesterday we talked about profit. To make it, you have to have a positive gap between revenue (sales that you actually deliver on and collect the money for) and expenses (both direct expenses associated with producing and delivering the product or service and indirect ones called “overhead” or “General and Administrative” expenses).
As a leader, you have to SEE these things right. You have to understand your direct and G&A costs, and what you charge for what you produce. You might be saying “I’m the owner – of course I know my business intimately”. Maybe. But many don’t. And when you don’t know the numbers well enough, you can’t understand which dials to turn to make the final number come out better.
To set things right, you have to see things right.
Do you/can you see things right?
Awe, thank you Larry! We are both so grateful for all the support and knowledge you have provided us over the years. Merry Christmas! See you soon
I sure wish I hadn’t been kicked out.