The P word. Many startup founders fear this and in fact many of us avoid looking in depth at whether our businesses ACTUALLY make money. Forget that our coveted Monthly Recurring Revenue is high. what about money in the bank?
Today Dave and Craig took a good, hard look at not just profitability in general but our own businesses to see what real profitability looks like. The definition we’re using for whether a business is actually profitable is not just Revenue – Expenses but rather:
“Revenue – Expenses – Founder Salary = Profitability”
Far too often we neglect to pay ourselves first, and that is something that should become commonplace in business practices. Neglecting our own financial wellbeing is a surefire way to burn out and quit the game of entrepreneurship too early.
So, is your business profitable? How are you monitoring and managing profitability in your business?
Drop a comment in below or email us at podcast@roguestartups.com.
In this episode of Rogue Startups, Craig is stateside while his family gets the vaccine and gets a bit of vacation time in. Dave...
This week Dave and Craig talk about something that none of us really love chatting about, but it absolutely needs to be addressed. How...
We’re back with Episode 63! Many apologies for the delay in releasing a show, but Dave and I have been pretty busy with both...
