ENTREPRENEURSHIP IS ABOUT SERVING OTHERS PROFITABLY

Really, that’s just it.

There’s no other magic, other than some luck, lots of hard work and the understanding that you work hard now to enjoy the fruits of your labor much later, as well as the desire to serve others profitably.

It doesn’t work if you just look at the numbers by being a bean counter (though there is a role for that too), but for entrepreneurship, it’s a lot about serving others profitably.

The word “serve” must come before profits.

I often see new and would be entrepreneurs being purely profit driven and only look to do work that is profitable, never mind that they have no interest in it nor skills or ability to serve that market well. They only see others making money in it, and they want in.

And they get in…and get burned bad.

Conversely, you also can’t just keep serving, and running at a loss. It’s just not sustainable that way. I can’t imagine losing money with each sale we do – that’s not a business – I can’t even find the words other than it is a flop. Yes, sometimes it’s about taking time to build the business, but you need to project when it’d be profitable, and if not, when would the timeline be to cut your losses.

Entrepreneurship is about serving others profitably.

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