Personal and business profitability
How to achieve a financial balance based on personal and business profitability
Talking about profitability is not just talking about a monetary issue since the effects of achieving income or having a profitability that allow establishing a specific lifestyle generates significant effects on the mental balance of human beings.
Beyond simply thinking about covering expenses, generating savings or investment possibilities, profitability generates motivation, inner peace, and a feeling of self-confidence that allows facing the challenges of daily life with the full certainty of having all the tools to overcome any adversity.
In a more theoretical sense, profitability defines the ability, capacity or quality that an investment has to generate a profit, and this ability to generate profit can be quantified using different financial indicators, known as profitability indicators.
In a more practical sense, profitability is the ability to transform any investment into a benefit, from the investment of time, money, or the fact of putting knowledge and skills at the service of others.
Each human being has in their hands the possibility of transforming their financial reality by establishing clear goals and accompanying them with a specific action plan that allows them to achieve their objectives in a given period of time.
There are some techniques to achieve balance in life and achieve profitability.
Establish a financial objective, for this, it is important to define dates or time limits together with a measurement system, so the objectives will be measurable and achievable
Define an action plan, the more specific the plan, the more likely it will be to obtain results.
Create a management and control system for the stated objective
Believing that it is possible to achieve it, the ability of the mind to create what is believed is admirable and this is a fundamental point in the achievement of any objective.
However, educating yourself financially or having the possibility of training with an expert on the subject is of vital importance, since it helps to measure both at a business and personal level the viability of investments and specific actions that must be taken to achieve the objectives. proposed objectives.
To achieve financial balance on a personal level it is important to define very clearly the reason why you want to achieve this balance, this will be the motivating factor to define a clear and measurable action plan over time.
At the business level, it is equally important to establish in the company of the members of the organization, what is the mission or the reason why it is important to have a financial balance since this will give more meaning to the actions that are proposed in addition to involving collaborators in achieving a result that translates into a common good.
The greatest asset of organizations are the people who make it up and through their participation and dedication in their functions, the expected profitability is achieved.
Concluding that it is teamwork, it is not a matter only of a financial department; On the contrary, one of the fundamental pillars in any planning aimed at obtaining business profitability is the participation of all members of the organization.
Remember that balance is not a state of permanent imperturbability, on a financial level this represents constant changes, ups and downs, which requires a constant commitment, dedication, and above all an emotional management that allows us to go through different moments and keep alive the illusion of obtaining the expected profitability both on a personal and business level.
Commercial Strategy Consultant at Open Mind Advisor.