Profitability is the primary goal of all business ventures. Without profitability the business will not survive in the long run. So measuring current and past profitability and projecting future profitability is very important.
Is that really true?
I agree that profit is very important for a business growth but without value there won’t be profit.
A business that is just out there to make profit is no business. Good businesses solve problems and in solving problems they add value.
Business is what you set up to add value, profitably. If it’s not for free, then…MAKE WORTHY THE FEE. But, put value before profit.
How to determine profitability.
▪Calculate your company’s revenue.
▪Calculate your company’s expenses.
▪Subtract the costs from the revenue.
I hope it helps.
Reviewed by Eizu Uwaoma and Victor Bella for Hexavia!
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Follow this link to the audio version of Law of Profitability: https://anchor.fm/lawsofbusiness/episodes/LAW-OF-PROFITABILITY-eheoq2
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