Profit Is Important

Have you ever did something for FREE but you enjoyed doing it? Have you ever done something for PAY but you disliked doing it? The first question sounds like something a lot of us do on a regular basis, kind gestures. The second question sounds less appealing, but most of us do this everyday as well. 

How? Some skilled people give their hard work away for free to friends and family. Do you enjoy doing it? Yes, but if this is your business, then profit is mandatory to support the business. Simple, sure it is, but it's one of the biggest and first mistakes in business. 

We speak to entrepreneurs on a regular basis who are breaking out of the "hobby" phase of their skill and into the "business" phase. Some may feel like that's how a business starts. Gaining traction by giving "samples" or "free stuff" but that might be why actually have the traction to start with, it's FREE, everyone loves free stuff! Your data is then sacrificed. Sure some people start that way. Is it profitable? No, it's not. We have helped many start-up businesses that started with no customers, and the first "job" they received, they were paid for the work. For example, T-shirt companies feel they need to give away clothing to attract customers. That may work for some, but we do not recommend it. How can I get people to buy my T-shirts? Present the right products to the right customers! 

Giving away your hardwork for free does not sit well with any profit/loss plan. Keep in mind, there is a difference in just "giving away your product for free" verse "giving away a product as a buying incentive". Now you're asking for the sale first, and then offering a "thank you" for the purchase in the form of a free gift. That transaction feels better, oppose to having your team create a quality product and lose all funds invested with the "hope" of gaining a customer. Let's be honest, they can accept the free gift and never return. 

Let's focus on the topic "getting paid for doing things you dislike". That is a clear indication and description of so many people in the workforce. We get jobs based on money or necessity, not always interest, desire, passion and know how. Today we may have the next Michael Jackson working at your local burger shop, or an athlete with the potential of Lebron James working at a grocery store. There are ways to break out of this cycle. If you are in a role, job, or career that you do not enjoy, it's best to prepare yourself to first understand what would make you happy, and next put all of your devotion and spare time and energy into that. The key to it all is BE HONEST with yourself. Easier said than done, I know, but we can help you through. 

The overall goal is to make sure you are gaining profit with all your motions. if you want to be nice, and do a project for a friend, ask them to pay for the cost of supplies to avoid a profit loss, unless it is really a gift of course. If you want to give away free products to motivate potential customers, give them that gift after for purchasing from your company, so you can see profit gain. I'll close like this; Business can be TAKEN 3 ways - 1. Taken for granted - 2. Taken advantage of -  3.Taken seriously - It all really depends on how you take it. Profit is important.