Running a profitable business is a big challenge. Fifty percent of businesses started in the U.S. fail within the first 5 years. Why? Because they are unable to create a profitable business model.
While there are many different factors that play into running a profitable business, in this article, we’re going to focus on just one simple fact: the difference between revenue and profit. The distinction matters, and it helps immensely if the entire team has the same understanding of what profit is.