Should my business make a profit in the first year?

4 Sept 2024 · 1 min

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This content was created by Feras Alhlou. This content was uploaded by Feras Alhlou. This is a YouTube video titled "Should my business make a profit in the first year?" (created 2024-09-04T03:49:06Z). The excerpt is an advice segment by a single speaker (labeled SPEAKER A) addressing someone named Feras about early-stage business profitability: focus on generating revenue quickly, build the habit of selling, accept that the first few projects may not be profitable (it can be okay to lose money initially), and then progressively look for ways to improve profitability over time.

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Hey, Feras, I'm really stressing out here, but how quickly should my business turn a profit? Well, you want to generate profit as soon as you can. Sometimes it takes a few months, sometimes it takes a couple of years, but the idea here is initially I want you to build the muscle of being out there selling and generating revenue. Once you have a few projects under your belt and you've generated revenue, you can now look for ways to be more profitable. So the first few projects, are probably not going to be very profitable, and that's okay. I give you the permission to lose money on the first few projects, but over time, I do want you to look for ways to be more profitable.