"Get money; still get money, boy. No matter by what means."
--- Ben Jonson
We get into running our own businesses for various reasons. Some nobly seek to change the world, some are on fire to provide a better product or service, and some get into it for simply attempting to control their own destinies.
Ultimately, because it is what buys the groceries, pays the medical bills, and provides for the kids' college, money is the reason we are in business.
"Put money in thy purse."
--- William Shakespeare
You are entitled to a profit if you are operating your business in a legitimate fashion, providing quality service and products with integrity. Money made should not be accompanied by guilt. Capitalism is one of the foundations of America and it is the ability to trade a service for money that keeps the wheels of progress in motion.
But, there are businesses in the sign industry that only chase the dollar and it hurts the business and the industry when the sole purpose of the business is to make money.
"The love of money is the root of all evil."
--- 1 Timothy, New Testament
Most mission statements today contain a statement about serving mankind, or the community, or improving the environment, etc. These declarations of business should stand as a guide for steering the business toward lofty goals, but sometimes they are wall ornaments only and forgotten after several years in business.
Case studies of various businesses in various industries used in MBA programs are now showing that the consistent pursuit of "serving" goals provide greater profits for those businesses.
"The lack of money is the root of all evil."
--- Mark Twain
We can't be naive and say that a business shall serve regardless of the amount of money made. It is the money that keeps the business alive and allows it to expand to provide other worthy products and services. But what is missing in some businesses is a balance of producing for the sake of providing quality with integrity, and reaping the rewards for the service.
The profits will come when the business provides above what the customer is expecting. Think of the companies that you know that stand for quality. Their price reflects their value. They will never lack money if they continue to provide what the customer is expecting.
"Let us all be happy and live within our means, even if we have to borrow the money to do it with."
--- Charles Farrar Browne
It is prudent for a business owner to "know the condition of his flocks" and have a grasp of basic accounting in order to be a good steward of the money that is made. Thousands of successful businesses started by bootstrapping their way from humble beginnings and providing a good product for a fair price, and then managing the profits well.
Maybe this month is a good time to re-examine the books as well as the reason for being in business. Perhaps a fresh look at the profit column will inspire some brainstorming for alternative services and products that your customers want and are willing to pay a premium for.
"A wise man should have money in his head, but not in his heart."
--- Jonathan Swift
Screen or Digital Which Method to Choose...An Imaging Technology Decision
By Dan Marx
The choices of using digital printing vs. screen printing, learn how to find the sweet-spot for your company to determine the most profitable choice on a job.
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2007 Business Growth Plans Survey for Flatbed Injet, Wide Format Injet & Grand-Format Inkjet
By Dan Marx
The results of SGIA’s recent 2007 Business Growth Plans Survey demonstrate an interesting reality in our industry, and show a healthy difference between what imaging companies want (equipment-wise), and what they ultimately buy. Through the magic of trending data, let’s take a look.
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Road sign seen in Utah:
"Soft Shoulder, Blind Curve, Steep Grade, Big Trucks…. Good luck!"
Found in a bar in Sanford, Florida:
"Don't throw your cigarettes on the floor. The cockroaches are getting cancer"
On a church sign in Houston:
"Staying in bed and shouting 'Oh God!' does not constitute going to church"
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