Profit! - It's what we are all in business for! The common denominator for all businesses.
There is a lot of nonsense talked about profit, and many consultants use fancy jargon and complex calculations in order to temporarily fudge profit. But profit is a very simple concept :
If you didn't make a profit, hard luck (it's easy to blame "luck"), there's no fun in being a loser ... but there may be ways to make a profit next time by reducing wasted costs.
It's a fact that every business has waste, that waste had to be bought as raw materials and resources, and may incur even more cost to dispose of. Waste comes in many forms, mostly invisible, including time, plant capacity, excess payment for emergency supplies, etc. And every single penny of that waste comes directly out of your potential profits.
Much of that waste is simply accepted by the business, either because it is not recognised as a waste of resources and money, or because it is mistakenly ignored as "unavoidable" waste. With such a high level of acceptance of wasted resources (and profits), it's no wonder that so much of it exists!
Waste is a result of poor management of your business resources - get it right, and immediately watch your profits soar.
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