Dear Entrepreneur,
Address a pain point. Of course, profits are there to keep the lights on; ask any successful entrepreneur, and there’s a near-certainty that they have become quite adept at knowing their profit margins. The problem with this is that other startups learn the wrong lesson, thinking that profit margins should be the thing you focus on, rather than a thing to focus on.
Don’t just focus on profit margin. Rather (and more importantly), focus on the value your product or service will provide your clients. The most successful companies were not built for revenue motives but ones that solved an issue or filled a need.
With love,
Chidi