becoming the master of your life?<\/a>\u00a0We aren’t in this to \u2018get by,\u2019 for a hobby or a part-time side project. Our goal is to commit to\u00a0going all out and to get rich doing it.<\/p>\nWhen you get your business off the ground and money starts coming in, you feel good and like you’re going somewhere, right? Well, yes, but there\u2019s more. There’s an important distinction between the types of money involved in your business.<\/p>\n
Revenue Vs. Net<\/h3>\n
The problem is most business owners don\u2019t know the difference between money that comes in and money that\u2019s always available. It\u2019s such a small distinction, but it makes a huge difference. Even so, many business people don\u2019t get it, and that\u2019s why their business becomes their job instead of their money machine (and that’s if they even make it past the first 3-5 years).<\/p>\n
You have to make some clear distinctions about the money that\u2019s coming into your business. Most people only focus on revenue. Is that important? Absolutely! But rich business people focus their attention on more than just the money that\u2019s coming in. There are other areas that must be addressed in order for a business to grow like expenses, cash flow, and profit.<\/strong><\/p>\nRevenue does not equal profit.<\/strong> The average person in business says, \u2018Okay, how much money came in today?\u2019 and that\u2019s it. They don\u2019t even know what their expenses are, and they don’t realize how big of a role expenses can play in your bottom line, your profitability.<\/p>\n <\/p>\n
Bring in cash flow that is more prevalent than the expenses, and then you can start to spend some money! -Harv Eker<\/p><\/blockquote>\n