Profit

The key essence of a business is the reason it’s all started. A business must generate profit, which seems obvious to everyone.

I just want to emphasize what profit is and what it consists of. Profit is the amount of money that remains after paying all the expenses incurred in the business, and it’s exactly what business owners receive as a reward for owning the business.

It’s important to keep this in mind when using any trendy management tools like unit economics, metric trees, lean, and so on—business must generate profit.