Is Your Profit and Loss Statement Rich or Poor?

Many business people use their P&L statement to gauge their business activity including increasing sales to reducing costs. However, the P&L statement is far more for a select group of people.

P stand for profits and profits are a good thing. Profits are the direct result of closing sales.

L stands for losses and losses are not a good thing. Losses are the direct result of not closing sales as well as poor management decisions regarding fixed operating expenditures.

Years ago I read a significant quotation that has been with me ever since.

“The true voyage of discovery is not seeking new landscapes, but seeing with new eyes.” Marcell Proust What I learned from this simple statement is that to change my life I must change my filter or how I view life. In taking such action, I am now more inclined to look at the what ifs or the possibilities. I will no longer be guided by the limitations of past experiences that influence current and future choices.

Are you a possibility thinker? Do you embrace life looking at the what ifs? The authors of Blue Ocean Strategy probably provide one of the best examples of possibility thinking which is a great success strategy. By being a possibility thinker you are also probably a risk taker, someone who enjoys rocking the boat and truly in charge of your own destiny.

Or you are limitation thinker? Do you awaken each morning thinking about what is going to go wrong, limited by yesterday’s experiences? Has the negative conditioning from early childhood experience transferred itself into your adult life? By being a limitation thinker you are probably also someone who goes along with the crowd, complacent, willing to let life run you.

If you truly want to master success, now is the time to look at your P&L statement. Not the profit and loss one, but the possibilities and limitations statement. Start increasing your possibilities and decreasing your limitations. What you will find is that your successes will grow and isn’t that what you truly want?



Is Your Profit and Loss Statement Rich or Poor? - To learn more about this author, visit Leanne Hoagland-Smith's Website.

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