Video: How Long Should It Take Your Business To Become Profitable?

Here's a taste of the types of things we're discussing in our private Indie Business Member Facebook group. While we discuss issues like product making and ingredient sourcing, most of the sharing is around business issues. Our members especially love topics concerning business and success mindset, increasing profits, as well as specific marketing and business strategies. In this video, I answer one of the questions posed recently in our private Facebook group, to give you an idea of what you're missing if you're not there.

Bear in mind that there is no single answer to this question. There really is no set time frame by which every new business should be expected to start turning a profit. But while every business is different, there are certain truths that are fundamental to each and every business, and this video shares three of the ones you need to be aware of if you want to be successful. Be sure to watch the video to get the golden nuggets and nuances. Here's an abbreviated summary if you're in a hurry.

Avoid distractions.

There are so many things thrown at you every day. You must train yourself to deflect extraneous information and embrace only the information and activities that will help you reach your goals.

Appoint your cabinet.

Just like a United States president, you need a cabinet too! The purpose of appointing a cabinet is to ensure that you have a close group of advisors who will assist you as you carry out your duties as the leader of your company. They will encourage and support you, and hold you accountable.

Embrace technology.

I have blogged about this many times in the past, but it bears repeating. And repeating again …

Your business will not be profitable until you embrace technology within your business model.

This is the one thing creative entrepreneurs often resist the most, and I have seen it kill profitability and growth far too many times.

Questions

1. What are your tips for avoiding distractions and staying focused on your goals?

2. Who is in your cabinet? How do they help you stay on point in your business? Do they hold you accountable?

3. What favorite technological tools do you use to grow your business?

Please leave your answers, tips, comments and questions below. We love hearing form you, and thanks for being here today.

Oh! And if you like things like encouragement and uplift in your life, you can be a part of our growing Facebook group by joining Indie Business Network today at this link. There's more to come!