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Daily Question - 1
Daily Question - 1
Profitability is your potential to make a profit in a business. Profit is the actual difference
between what you spend and what you make in your business. It's money.
For instance an entrepreneur who has already built five successful businesses has a good
potential for profitability in a new business. But doesn't actually make a profit until sales exceed
expenses in the new business.
What most determines your profitability are the skills that you bring to your business. I recently
wrote a two-part article on business profitability that you can access from the resource box.
I list six vital skill sets for businesses. They are financial, idea generation, planning,
management, marketing, and customer relations.