A World-Class Business Education in a Single Volume
Master the Art of Business
2nd Edition, Revised & Expanded
“Know contentment and you will suffer no disgrace; know when to stop and you will meet with no danger. You can then endure.” — Lao Tzu, ancient Chinese philosopher
- Sufficiency is the point where a business is bringing enough profit that people find it worthwhile to keep going for the foreseeable future. Maximizing profits is not everything, it’s more important what you do with it.
- On the other hand, you can’t create value if you can’t pay the bills.
- Refer to your TMR: Target Monthly Revenue. If you bring more than your TMR each month, you are sufficient.
- Sufficiency is subjective. Different businesses have different sufficiency points.
- If you reach Sufficiency, you are successful, regardless of how much money you make.
Questions for Consideration:
- What is your point of financial sufficiency? Have you reached it yet?
- How could you reduce the time it’d take to be sufficient?
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