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PROFITABILITY
= CHOICE
In
today’s financial world, the word profitability
has taken on a whole new meaning, especially now,
with the rise and demise of so many “dot-coms”
and the Enron saga. It is generally accepted
that “profits” are what you have left after
you deduct ALL of expenses and losses from your
revenues or income. This is true whether the
“business” you manage is a small business, you
are CEO of a major corporation or you are an
employee managing “you as a business” with a
paycheck and your checkbook. If everything
you take in is spent, no matter what role you
play, you will never have profits. And, if
you are not profitable, you are not growing.
If you are not growing, you are atrophying and in
a short time your business will die.
It
is only when you have a profit i.e. money left
over, that you are in a position of strength and
empowerment and are truly at choice. In the
business world, profits allow you to choose new
equipment, invest in research and development
efforts, or new premises to enhance further
production; not to mention salary increases,
bonuses and profit sharing. Today’s
unspent profits, put aside for tomorrow’s
cyclical down turns, is what has allowed many
businesses of all sizes to survive in these
recessionary times.
In
the world of personal finances, profits, called
“discretionary income,” allow you to choose
among many things, including investing for your
future retirement (and letting your money make
more money for you), upgrading your education
(also a great investment), buying that new TV or
taking that vacation to visit your family across
the country. Likewise here, no profits, no
real choices.
If
profitability is defined as “what you have left
when you have spent everything you were obligated
to spend,” then we can also look at
profitability in other areas of our lives, such as
energy, time, relationships, and health.
This may be a new way of looking at these subjects
for you. For instance:
INGENUITY VENTURES™
is a business partnership of two coaching
companies: Thrive!!® Inc., Dolly
M. Garlo, R.N., J.D., President; and SuccessWorks®,
Michele Henkle Irelan, President. Reach
Dolly at dmgarlo@AllThrive.com.
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has." COPYRIGHT 2001-2003, by Ingenuity
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