Raj Kapur - "Guidance to Wealth"
BOTTOMLINE FOR YOUR BUSINESS - PROFIT FIRST
IBGR.Network - PROFIT Radio. Everything a business owner needs to start, grow, or exit a business. Grow with us.
Why profit first? I have many friends, colleagues, clients who are always thinking in terms of growing their small businesses, now nothing wrong with that, but they many times ignore the bottom line i.e. the profits. Their belief is the larger we grow, the faster we grow the profits will come in.
I am of the belief that you need to set your target of profit first and once you have reached that target then yes go for expansion.
See money is the medium by which we run our businesses and our lives, even if we open up a Not for Profit business it cannot be run without funds. Any social institution, well all require money.
Is Profitability or Growth More Important for a Business?
To be successful and remain in business, both profitability and growth are important and necessary for a company to survive and remain attractive to investors and analysts. Profitability is, of course, critical to a company's existence, but growth is crucial to long-term survival. So think in those terms.
“Cash Flow or what is commonly referred to as Working Capital is the heart of any business,” “Without it a business cannot survive. Many small business owners make the mistake of spending without consideration for the future.
When it comes to the financial management of a growing company, always remember that cash is king. In other words, this is not the place for shortcuts and sloppy practices.
WHAT TO DO
Unanticipated expenses and emergencies - Covid 19.
Marketing Expenses exceed sales
Late payments can cause major cash flow disruptions
Faster Growth in the company than anticipated
Do you use a budget? Your budget needs to work for you, and that can only happen if it is highly customized. This is a part of creating the blueprint for your financial life.
How a budget can help:
• It helps reveal wasteful spending
• It can reduce stress
• It helps control spending
• It is essential to your wealth blueprint
If you can measure you can improve – Peter Drucker
When should a small business focus on growth over profits?
PREVIOUS SHOW - FAILURE - YOUR FRIEND OR FOE
All of us have experienced failure in our lives, professional or personal. Have failures led you to the path of self-destruction or have you been able to leverage failure as stepping stones to success?
Why is it that some people reach the pinnacle of success while others just go down? Many call it luck and say those are lucky people. When we delve deep into the stories of those who have succeeded we find they have failed more than an average person.
Probably the greatest example of persistence is Abraham Lincoln. If you want to learn about somebody who didn’t quit, look no further. He could have quit many times – but he didn’t and because he didn’t quit, he became one of the greatest presidents in the history of our country.
Lincoln was a champion and he never gave up.
Not All Failures Are Created Equal
A Few Famous Failures
CAUSES OF FAILURE
WHAT TO DO
Change how you see Failure
Your Roadmap to Success!
Coach | Mentor | Speaker | Non-Profit Expert | Published Author | Radio Show Host
As an Executive/Leadership Coach Raj believes in building World Class “Super Leaders,” One Executive at a time.
Raj is the founder and CEO of Options Ahead, Inc. With his program Guidance to Wealth he helps individuals live their dream life by resolving their financial stress without needing to make more money.
Raj is an Award-winning, C-suite leader and certified executive and leadership coach who has built, developed and led large, globally-competitive teams, provided transformational coaching to maximize productivity, improve staff morale, and inculcate powerful leadership skills — experience in for-profit and non-profit sectors. He leveraged leadership skills to transform struggling companies.
With over 30+ years’ experience and leadership wisdom backed by a toolkit of the world’s best leadership resources and cutting-edge techniques and ideas, Raj has leveraged proven leadership methods to develop super leaders that transformed not only themselves and their teams but also the entire organization at various levels.
Raj has led extensive workshops, seminars, coaching sessions, mastermind sessions, keynote engagements, and group and one-on-one coaching sessions. He has coached thousands of individuals during his career, created powerful instructional programs and courses. He has developed financial leadership programs, introduced leadership training, and Mastermind sessions at various organizations designed, developed, and led workshops on leadership, communication, and productivity across the country.
His corporate experience includes a background in managing budgets exceeding tens of millions of dollars, turning-around companies, maximizing profits, and catapulting business success while working with CEO/board of directors.
Raj Kapur is an Executive Director with The John Maxwell Company. He is a Certified Coach, Teacher, Trainer, and Speaker, a certified DISC Trainer, and a published Author.
Written by: Raj Kapur
Book a FREE Call https://www.rajkapur.com/freecall/
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