If you’re an entrepreneur you want to know how to succeed in business. Today I’m going to talk about the wealth cycle and why it is what business is all about. Mastering the wealth cycle is very simple. The only purpose of a business is to provide you with a future stream of earning.
How To Be Successful In Business
How stable and how sustainable that future stream of earning is determiner and dictates how valuable your business is. So in business the whole name of the game is to buy and create assets and you want to turn those assets into sales. You want to convert assets into sales.
When you make sales you want to convert them into profits. Then you are going to turn those profits into cash flow. Every small business is looking to do this.
Think of assets as equipment. The property you own. The blogs, websites or network marketing positions you own. If you have employees are they assets? Yes, because their purpose is to create more sales. So if your paying attention what is the only type of employee that you want? The answer is a profitable employee.
Success In Business
If an employee is not profitable you’re obviously not going to want to keep them. When you look at a business as a wealth cycle it’s actually quite simple. The reason why a company has assets is to produce and service revenues. That’s it.
So it means that you want to be very effective at acquiring assets or creating assets that maximize and service revenue. What that means is how well you convert assets into sales. That determines how effective you are as an entrepreneur. Here is a man that’s greatest asset is himself. Tony Robbins has made millions of dollars branding himself over the past 20 years.
When you go from sales to profits determines how efficient you are as an entrepreneur. When you go from profits to cash flow that’s your productivity. Or, how productive you are. This is the key to becoming successful in business.
When you look at Assets, Sales, Profits and Cash Flow you can determine how effective you are in your business. As an entrepreneur you want to have the fewest assets as possible producing the maximum amount of revenue. That is the name of the game as an entrepreneur.
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