Business owners who openly discuss their desire to be profitable are usually misjudged. Some people think aiming for profit means being greedy or putting money and goods before people when it is the opposite: only profitable auto repair shops can put people first. Profit allows you to pay your debts, be philanthropic, and elevate your and your internal customers’ lifestyle.

This week, I’m thrilled to welcome Ron Sharyan, aka Obi-Ron Kenobi, back to the show. Ron is the Co-founder and Managing Director of Profit First Professionals, an international network of accountants, bookkeepers, and financial experts on a mission to help companies increase their earnings through the Profit First method.

We had a wholesome conversation about profit. Ron explains why he sees profit as a retention tool, an instrument that allows one to give back, and a legacy-building mechanism. He debunks the myths around profit, shares his thoughts on seeking profit to fulfill a business purpose, goes through the difference between seeking profit and living above one’s means, and so much more.

In this episode, you will learn:

• What it means to be proud to be profitable (3:00)
• Who are those who don’t “want” to be profitable (8:40)
• Profit is a retention tool (10:30)
• The most expensive popcorn in the world and Ron’s bragging rights (18:10)
• How everyone spends their money is no one’s business (24:10)
• Profit first = people first (31:00)

Resources

• Profit First University website
• Connect with Ron on LinkedIn
• Connect with Ron on Twitter