You’re not alone if you run your company by tracking revenue and your bank balance… but what about your profits?

Here’s a common mistake: thinking profit is just about what’s left over after expenses. But this means the only way to make a profit is to sell more—what about just operating better? Controlling expenses is critical to having a profitable business.

And there are actually four major areas of profit you need to focus on:

🏠Lifestyle: If your business isn’t supporting the life you want, you need to make some changes—either to your lifestyle expectations or your business operations. Ignoring this only compounds stress.

🚨Emergency Fund: This is non-negotiable. You need 3-6 months of business and personal expenses set aside and untouched in its own bank account. Failing to do this often results in going into debt during an emergency.

📈Growth Plan: Reinvesting profits is great, but to what end? Give your saved-profit dollars a job in the long-term growth plan of your company.

⛱️Retirement Plan: About 1% of small businesses fully fund their owner’s retirement. Selling your business may not get you the money you need to retire as you expect. But a small savings habit started now can change that—especially with the tax benefits of qualified plans.

➡️ Watch the full video to learn how focusing on these four profit areas can transform your business and financial future!