Accountant warns side hustlers: focusing on sales over profit is a 'big mistake'
By
Steven Smith
Summary
Accountant Harvey Dhillon warns that many new ecommerce side hustlers are making a critical mistake by focusing on sales volume (turnover) rather than actual profit. He emphasizes the business principle that 'turnover is vanity, profit is sanity, but cash is king,' noting that obsession with revenue over profitability is a common pitfall for newcomers to ecommerce.
Source
bskyAccountant warns side hustlers: focusing on sales over profit is a 'big mistake'getsurrey.co.ukKey quotes
· 3 pulledThere's a well-known saying in the business world: 'turnover is vanity, profit is sanity, but cash is king.'
A significant percentage of them are making a big mistake, an accountant has claimed.
The mistake, which many who are new to the business world make, is obsessing over the amount of sales they can generate rather than the actual profit being generated.
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