My ongoing research through the years includes why some of my entrepreneur graduates succeed in business and why others are less fortunate. Business success is defined in many ways, but the bottom line is profitability.
Profit is considered the money remaining after a product or service is sold, earned revenue and paid out its cost of operating the business. Costs are everything from buying supplies, paying employees, liability insurance and all of the overhead expenses incurred in the operation.
If a business isn’t producing profits, then it means that more money is being spent than earned. Businesses can’t go on very long when operating at a deficit.
There are many opinions by experts about why a business succeeds or fails. I have tracked my entrepreneur graduates for years and the ones who have succeeded in business demonstrate certain skills such as the following:
Dr. Patricia Laino
Dr. Patricia Laino earned a Baccalaureate in Science and a Master of Science from SUNY Institute of Technology in Utica, New York. She was awarded a Certificate of Advanced Study from SUNY Cortland, New York and earned a Doctorate in Business Organization, Administration, Research and Policy from Buffalo State University of New York. She has been a presenter of “How To Win At Writing Grants” at numerous colleges.