The profit motive underlies all normal business. And although there are many emotionally rewarding milestones on the road to starting business, it is only when your report the first profit that you can claim credit (if only from yourself) for starting a successful new business.
The first profit shows a number of things about your endeavor at starting business, and about your efforts at starting your own business.
Firstly, it shows that your endeavor to start your own business was based on a viable business idea. This is a business idea you first sold to yourself (to get the courage to attempt starting business), then to financiers (to get the money you need to start business) and now to the general public, who are buying whatever you are selling - resulting in the profit.
Your first profit report also shows that you are doing something right. If you weren’t – believe you me – you wouldn’t earn anything. Clearly doing what you are doing better (or more) will see you earn even better profits in the future.
Your first profit report also shows that your new business is serving a real need in the society. With the difficulty with which people obtain their money, it is clearly only a business that serves a real need that can expect to earn anything from the people.
Needless to say, of course, is that your first profit report is also your first reward for the pain you went through on the road to starting your own business. Some of the most painful aspects of the process you go through when starting business include finding the inspiration to start the new business – which might involve a lot of soul searching, finding the finance you need to start business (which might involve a lot of rejection and perseverance) and getting your first customers or clients as may be the case, which might involve a lot of tiring – and often fruitless – networking before you build yourself a brand.
