Why You Should Focus on Profit
Focusing on profits within your food business is vital and not just because you’re a business, but because you’re a Good Food Business.
I know that some of you reading this might be thinking, or saying out loud, “We’re a mission-driven business, we’re not focused on Profit!”
I hear you, I felt the same way when I owned my food business. But here’s the deal, if you want to achieve the mission of your business long-term you have GOT to be financially sustainable and profitable.
Profits are the funds that you’ll use to invest in growth, efficiencies and other improvements. Maybe you’ll use profit funds to develop the new product you’ve been dreaming of. Or perhaps it’s your goal to donate a portion of your profits to a charity. Maybe you’ll celebrate with that money, or maybe you’ll do what I do and do a little bit of all of it, PLUS take a share for yourself and offer a profit-share with your employees.
You started a business to do good, create change, earn a living doing something you love... No matter what your WHY is, Financial Sustainability and Profitability ensures that it becomes and remains a reality.
Do not be ashamed of profitability, do not be ashamed of wanting to make money. If you’re struggling with this, if you’re having strong feelings right now, I recommend you go back and listen to The Good Food CFO Podcast Episode 06 with Caroline Snyder of Verdi Advising, I encourage you to read “We Should all Be Millionaires” by Rachel Rodgers or “You’re a Badass at Making Money” by Jen Sincero, and listen to The Good Food CFO Podcast Episode 20: Profit First:: Will it Work For Your Good Food Business?
These will all help you along the journey of eliminating the guilt and limiting beliefs you have around money and financial success.
Doing this work is a great gift to yourself and your community.
Discover how to become a Financially Sustainable and Profitable Good Food Business!
I’m here to support you - so join us in the Profitable Food Business Community to share your questions.
About the Author: Sarah Delevan is a Profit First Certified Food Business Financial Consultant and Coach with over 8 years of food industry experience. She received her MBA from Rollins College, and In 2017 she founded Sarah Delevan Consulting based in Los Angeles, CA and serving clients across the United States. She is the creator of the Financial Success Formula and the founder of the Profitable Food Business program as well as the host of The Good Food CFO Podcast. To learn more about Sarah and opportunities to grow a more profitable food business Click Here.