3 Ways to Measure your Businesses’ Profitability for Complete Alignment & FulfillmentJan 25, 2021
So, if I asked you how profitable is your business, the first thing you may do is look at your spreadsheet or call your financial partner and ask right? Yes, knowing the monetary profitability is important, but if you want to build a fulfilling, inspiring, and aligned business that completely fills you up, it’s important to measure it beyond just the numbers.
My business, products, and services need to feel good, aligned, and expansive to me. I measure the profitability…
- And of course, Financially
In the past, I've held off launching programs that were financially profitable because it didn't feel emotionally nor spiritually profitable at the time.
Your business, products, and services may be financially profitable, but if you’re not passionate about it nor does it give you joy, your heart will not be in it and your customers and clients WILL feel it. You may come to resent it down the road and when things get tough, you will want to abandon it at the first opportunity.
To determine if my business is emotionally and spiritually profitable, I ask…
- Am I making an impact through my business?
- How is it impacting others?
- Does it serve a purpose and mission beyond me?
- Does it feel like my calling?
- Do I feel fulfilled doing this work?
- Would I still want to do it even if I was not being paid for it?
Now, please be careful about the uncomfortable feeling that comes with doing work in your business you’re not used to. This may cause some discomfort and will not feel good as it’s inconsistent with what you’re used to. As an example, you may have an offering that lit your fire. But then you begin the task of marketing it and sharing it with others, but then limiting beliefs come up. Or maybe marketing is not your strongest point and so it no longer feels good.
This is not what I’m speaking about here. Even though it's spiritually and emotionally profitable, you may not feel it because you're now doing tasks that are taking you outside your comfort zone, which for most people does not feel good.
Another thing to watch out for is your business being emotionally and spiritually profitable, but not financially. That is oftentimes more of a fulfilling hobby and not a business. Because business is an exchange of monetary value for the value you provide through your products and services. How can you work to make your business financially profitable as well? (Hint, our past post here helps with this!)
I invite you this week to evaluate your business and offerings and determine if they're profitable emotionally, spiritually, and financially. From this place you'll begin to create a truly profitable, fulfilling, and aligned business you'll love!
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