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.
Today Dave and Craig talk through a recent thread from Hacker News on a few of (the many) reasons that startups can fail. https://news.ycombinator.com/item?id=18011332
On this week’s episode, Dave makes a comeback and joins me on the show after recovering from what he calls an “H1N1-Ebola-Dengue Fever crossbreed”....
In this episode Craig and Dave talk through a few updates from our businesses. With the Covid-19 crisis beginning to settle down in some...
