537 | Revenue or Profit: How to Measure Business Success

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Today we're diving deep into the true meaning of business success. Amidst the noise of entrepreneurs flaunting seven or eight-figure revenues and $100K months, it's time for a reality check. I'll also share my latest business goal and provide a fresh perspective on what success really means, hoping to guide you toward achieving your personal business aspirations.

The Beginning of My Journey

Starting a business isn't easy. When I launched my first venture—a brick-and-mortar boutique—it was a challenging yet invaluable experience. After 18 months, I sold the boutique, knowing it wasn’t the ultimate path I wanted to follow. This led me to start my coaching business six years ago. The journey since has been nothing short of transformative.

Setting a NOW Goal® without Deadlines

One of the crucial lessons I've learned is to avoid attaching strict deadlines to big goals, we like to call the NOW Goals® in my community. If you're passionate about a dream, you'll pursue it no matter how long it takes. Early on, my NOW Goal® was to generate consistent revenue—specifically, $10,000 a month. Achieving this milestone was vital for my business's survival, allowing me to avoid returning to corporate life.

The Trap of Revenue Milestones

After achieving the $10K monthly revenue, I quickly fell into the trap of constantly chasing the next financial milestone. The prevailing narrative from online gurus and coaches was to scale rapidly—six figures, then seven, then eight. This relentless pursuit led to fleeting moments of celebration and a constant pressure to achieve more.

The Reality of Celebrity Entrepreneurs

Many celebrity entrepreneurs focus heavily on marketing and sales but often lack in delivery. I've experienced firsthand the disappointment of purchasing from such figures, only to receive subpar products and services. This disparity highlights a significant issue in the entrepreneurial world—successful marketing doesn’t always equate to valuable offerings.

Profit Over Revenue

The focus on revenue can be misleading. A business generating $1 million in revenue might not be as successful as one making $400,000 if the latter is more profitable. Profitability is key, and it's essential to prioritize what remains after expenses and taxes. This shift in perspective has profoundly impacted my approach to business growth.

My New Business Philosophy

In 2023, I undertook a complete reset, focusing on aligned growth. This year has been about structuring my offers to deliver maximum value while maintaining a flexible schedule for personal projects and continuous learning. My goal is now to generate $100,000 a month in profit, emphasizing profitability over mere revenue.

Aligning Success with Personal Values

Success isn't solely about financial milestones. It's about creating a business that aligns with your values and provides time and space for personal growth. Whether your goal is a five-figure or eight-figure business, success should be defined by profitability, time, and alignment with your personal and professional aspirations.

The Magic Sales Method

To support entrepreneurs, I'm excited to offer a workshop on the Magic Sales Method on July 25th. This method focuses on value-driven, heart-centered sales, transforming how you approach sales calls. For $97, you'll learn how to run effective sales sessions and implement a straightforward marketing plan.

Register here: julieciardi.com/magic

It’s time to redefine success on your terms. Focus on profitability, alignment, and personal fulfillment rather than getting swept up in arbitrary revenue milestones. Join our workshop to enhance your sales strategy and experience a new way of doing business.

For more information and to join the Magic Sales Method workshop, visit julieardi.com/magic.

Remember, success is not just about the numbers. It's about creating a business that serves you and your clients, providing value and achieving true fulfillment.