Bill Gallagher argues profit doesn't equal value. Many companies are profitable but worthless. He urges owners to assess current worth, imagine best-in-class value, and plan to double it in three years.
I have seen many companies who are profitable but are not valuable. Many companies that are profitable but not valuable I have yet to see I've yet to see a company that is valuable that's not profitable. Think about that play on words. So we as business owners we focus on increasing our revenue. We want to scale to our mindset especially those of us who watch social media or YouTube. We see people trying to tell us how to grow more revenue, how to grow more more more more profit, more margin, more noi whatever it is. And let's get looking at one side of the coin. The reality is there are two sides to a coin. The coin side that we should be focused on is let's grow the value of our company. What is your company worth today? What could it be worth if it was best in class and what do you need to do to double the value of that company over the next three years?
