What Is The Number One Thing All Businesses Need?
It should be wanting to generate cash, also wanting not to lose it.
What comes first, the chicken or the egg? If you are in the biz of selling chickens, best to make chickens your priority. If you are in the biz of selling eggs, make that your priority. But before any other priorities like stationery, licenses, a rented office, a copy machine, you have to line up paying customers who will buy your products or services. Without that, all the staff, ads, corporate culture, fancy offices, all mean nothing.
Not only that, the likelihood of customers coming back to you for more is actually quantifiable. It has a dollar value. Good will is more than pie in the sky, it is something any accountant can value quite accurately.
- W. G. Hill