July 07, 2019

Profit

Two weeks ago I ran a poll on Twitter, asking if users calculated the profitability of their marketing efforts.

32% said "no".

Months ago I asked a comparable question and a follower said that it was stupid to calculate profit.

Last month, a Professional told me that he didn't have a problem losing money.

Let's switch the story a bit. Many readers live in New England. What if I told you that the NFL wasn't going to keep score anymore ... if the Patriots beat the Jets 31-14 you wouldn't know it, you'd just have rushing stats and passing stats and time of possession and turnovers and your job would be to determine if the Patriots did a good job or not? You'd find that foolish, wouldn't you? You'd want to know the score!!!

Profit in Business = Keeping Score in Sports.

If you don't know how to calculate profit, go sit down with somebody in your Finance Department and learn, ok? Someday you are going to run a company and your job will 100% depend on profitability. Better to get started today so that you're ready when you are a CEO/Owner, right?

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