Most entrepreneurs go through their entire business career focused on generating revenue and net profits. In other words, an income-focused mindset. This mindset’s elements are things we know well as entrepreneurs and business leaders. These include people and culture, profitable revenue generation, customer retention and relationships and systems and processes, amongst many others. If focused on correctly, these familiar elements will undoubtedly generate profits and, ultimately, a successful company.
If you asked a long-time entrepreneur (one that perhaps has owned their company for two decades and has navigated outside factors like a pandemic or a recession, who started their company out of the shed in the backyard or the bedroom in their home) if they thought their company was successful, many would proudly say, “Yes.” They have built a great company. They have a purposeful product or service. They have great customers and a select few with deep and potentially long-term relationships. They have great people and a great culture; perhaps the owner is even the heartbeat of this culture […]
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