Most business owners I know track their profit carefully. Fewer have asked what profit actually is; not as a number, but as a phenomenon. What it represents, what produces it, and why managing toward it directly is so often the thing that makes it harder to reach.
Most businesses are built on a single question. How do we get more customers? How do we sell more? How do we grow the top line? And for a long time, that question is exactly the right one. It’s what gets businesses started. It’s what keeps them alive.
Most of the leadership teams I start working with are preparing for investment by focusing on what they’ve built; the track record, the numbers, the story of how they got here.
The investor is asking something else entirely.
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