Optimally, when should a business become profitable?

[MarkKol]

I've been pondering over this question for a few days now, It's clear to me that I should be very effective at pursuing and achieving goals otherwise they won't happen at all. If I was in sales or trades I'd say a few days is enough to make a profit although I'd say 6 months is probably more than enough time to do so in regular business. Not that I'm desperate for a few bucks, It's just that businesses that make money usually make money pretty fast because there's a market for it. If you've been running a business for a year and haven't made a single dime, obviously something's wrong, either you're not trying hard enough or the business is just never going to work.

I'm challenging someone to say that you can make a profit within the first month or week of starting.

Edited November 29, 2023 by MarkKol

[Realms of Wonder]

I think it varies depending on business type, market, value provided, and more factors I am not thinking of.

I remember Leo saying that when he started his Internet Marketing company, it was profitable in a few months. When I think of my own business I am building, it is already profitable even though miniscule, and am giving myself between 5-10 years for it to be fully self-sustaining, and replace and transcend my job income. 

 

[Phil King]

38 minutes ago, MarkKol said:

Not that I'm desperate for a few bucks, It's just that businesses that make money usually make money pretty fast because there's a market for it. If you've been running a business for a year and haven't made a single dime

Its all about the type of business. You can start a consulting business today and start making profits while huge growth companies like uber, tesla, spaceex, spotify, etc lose money for years or even decades before any profit is made. Im pretty sure uber still has not made a profitable year yet, spotify just recently started making profitable quarterly earnings after losing billions for years, and tesla and spaceX also lost billions before eventualy becoming profitable

[Leo Gura]

It should be profitable immediately.

Just because you had to invest some money into a venture does not mean that you cannot start making profit on your first sale.

Edited November 30, 2023 by Leo Gura

[Greatnestwithin]

14 minutes ago, Leo Gura said:

It should be profitable immediately.

Just because you had to invest some money into a venture does not mean that you cannot start making profit on your first sale.

how long it took you to see profit from actualized.org? @Leo Gura

[MarkKol]

7 hours ago, Leo Gura said:

It should be profitable immediately.

Just because you had to invest some money into a venture does not mean that you cannot start making profit on your first sale.

This is immediately after launching your first product I'm guessing?

[Leo Gura]

9 hours ago, Greatnestwithin said:

how long it took you to see profit from actualized.org? @Leo Gura

I don't even remember because that wasn't my concern.

But I was coaching people for profit within 6 months.

[bebotalk]

On 29/11/2023 at 4:18 PM, MarkKol said:

I've been pondering over this question for a few days now, It's clear to me that I should be very effective at pursuing and achieving goals otherwise they won't happen at all. If I was in sales or trades I'd say a few days is enough to make a profit although I'd say 6 months is probably more than enough time to do so in regular business. Not that I'm desperate for a few bucks, It's just that businesses that make money usually make money pretty fast because there's a market for it. If you've been running a business for a year and haven't made a single dime, obviously something's wrong, either you're not trying hard enough or the business is just never going to work.

I'm challenging someone to say that you can make a profit within the first month or week of starting.

there is no standard. It depends on the industry, the size of the company, or the goals of the business owners. 

[MarkKol]

Since I created this thread I discovered that business is mostly about lead generation, It is the number #1 problem for most (millions) of businesses and the reason most of them are not profitable. So this is the measure you use when looking for a product market fit or looking for customers.

A lead is someone who signals their interest to you. And so businesses that can generate immediate leads are businesses that are profitable the fastest.

Edited December 8, 2023 by MarkKol

[bebotalk]

This further depends on the business. Not all customers are of equal value monetarily.  Not all leads are of equal value.

Some industries incur more costs than others, as would some busiensses within industries. 

You're looking for a simple answer, when the reality is complex. 

Some businesses might not care as much about profits. It may seem counter-intuitive, but what if a business was a subsidiary of a larger firm, and it made minor losses every year? Maybe the success of other firms in the conglomerate offset these losses? Or the loss-making business was a legacy brand that the wider firm didn't want to sell or divest? 

 

Edited December 10, 2023 by bebotalk

[Dauntment]

(All due respect) The type of person to ask something like this should probably be seeking profits immediately.