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How to profit in business

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Posted 1st March 2009 at 04:12 PM by TimCastleman

How can you measure a companies profit? Looking at their balance sheet and seeing their income to expense ratio is what an accountant would tell you.

By being a business owner you should know that your business gets its profit by convincing others to part with their money in exchange for your product or service.

This means your balance sheet is an indication of how much you have served others ~ in terms of their standards, their values, their desires.

Don’t ever forget that happiness is relative. Your idea of what’s good for someone else may not be shared in the slightest by that someone.

And since happiness is relative to the person you must offer them something they value more than what they will have to give up to obtain it.

If you are selling a vehicle you must provide more value for the vehicle than the money you are seeking for it.

If you want to sell an information product, the info it contains and the results you offer must be worth the time and money they will have to invest with it.

Think about fat people for a minute. Why are people fat? Because they enjoy and get more happiness from being fat than being skinny. Don’t believe me – let me ask you this.

How do you get skinny? Diet and exercise right. Everyone knows this yet people are overweight – why?

Because they aren’t willing to make the exchange in time, energy, or money to replace what they are doing now.

The same thing goes with saving money. Becoming rich isn’t hard – simply spend less than you make. But millions of people owe billions of dollars to credit card companies because they refuse to do that.

People will only make changes in their life when they want to. The old saying – you can lead a horse to water but you can’t make them drink – applies to humans as well.

So if you want to profit in business you have to offer your customers something that provides them more value then what you are asking for in exchange.

Don’t forget that happiness is relative to the person so what makes you happy or what you think your customers need doesn’t matter. It only matters what they think and what they are willing to not only put a value on but also spend money on.

So how do you profit in business? By finding out what your customers want and help them get it. Forget what you think or more importantly what you think they want – simply ask them. Find out what is stopping them from taking action, what is stopping them from accomplishing their goals, what problems they have.

Then take them from where they are to where they want to be.

More on this later.
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  1. New Comment
    Thanks Tim, you have brought an extra measure of focus in what I am trying to accomplish in my campaign-Scott
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    Posted 1st March 2009 at 04:26 PM by Scott Hewitt Scott Hewitt is offline
 


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