Making a profit is the ultimate goal of any business, but too often it is solely attributed to sales. That's undoubtedly a big component in achieving success; however, there are many other aspects that come into play when looking to maximize profitability. Lorry Rifkin expresses that there's more to profit than just sales.

Sales and profits may go hand in hand, but they don't necessarily indicate the cash that a business will take home. Real cash requires more thought because that doesn't always mean dollars in your pocket like profits do on paper. Lorry highlights the importance of controlling entrepreneur's business growth so they can stay ahead of the sales curve. Listen to learn how to maximize value while maintaining stability!

Episode Highlights

01:11 - Sales are not profits and profits are not cash in the bank. And at the end of the day, if you don't have cash, you really don't have a business. And so, some of the fastest growing customers I've seen were also the ones most vulnerable to going broke.  Here's a Lorryism. You always have to keep your infrastructure of your business ahead of your sales curve. If you do not do that, you're like the Road Runner and a coyote. You're looking over that cliff, and there's no infrastructure to support you. So, that's another thing. Those things go together. You got to control your growth to have enough cash in the bank or have enough cash to allow you to borrow money because the bank thinks you're credit-worthy and you have to develop your infrastructure with people. Procedures and practices has to stay ahead of your sales curve so you have a foundation to grow on.

Let's Connect!

Connect with me on Linkedin

Support the show

💲Support the show with a one-time tip or monthly subscription.

Take the 7 Day Mastery Challenge

The 7-Day Mastery Challenge is a powerful, transformative journey designed for purpose-driven entrepreneurs ready to unlock their full potential. Inspired by the core principles of the book Flame Starter, this challenge will guide you through seven days of intentional growth and self-discovery.

Each day, you’ll receive an actionable email that dives into a key mastery concept, offering practical steps and insights to help you:

• Master Yourself: Develop clarity, discipline, and focus in your personal and professional life.
• Master Your Purpose: Align your goals with your higher purpose and begin living with intention.

The challenge concludes with a call-to-action to deepen your growth by owning your copy of Flame Starter, so you can continue your mastery journey with confidence.

Join the 7-Day Mastery Challenge and take the first step towards mastering yourself and mastering your purpose.

Take the Challenge

Connect with Lorry Rifkin

Website

LinkedIn