There is a special moment many entrepreneurs experience when they realize their business is working. They have figured out their value proposition to customers, they have fine tuned their expenses and margins and begin sleeping at night believing that the work needed to prove out a business was worth it. The joy of accomplishment might only be comparable to the excitement experienced by an entrepreneur when they first ventured out on their own. Having evidence that your business is working is milestone entrepreneurs should work towards if they haven’t already reached it.
Having been a public company for 10 years, Tesla has never reported a profitable year. They have had a few profitable quarters but never a profitable year. Until today. Telsa reported a profitable year and advised that it expects to be profitable going forward and will be self-funding through its own cash flow. These results are evidence that Tesla has figured out their value proposition and have fined tuned their business to produce meaningful results. It’s taken some leaps of faith to get to where they are now but for the time being, founder Elon Musk must be basking in the joy of achievement.
No one said running a business would be easy. No one said venturing out on your own, convincing people to join you while convincing customers to pay you would be easy. The journey of working towards a goal is filled with highs and lows but when you pass your milestones, take a moment to take them in. What milestone are you working towards right now? What milestone did you just pass? If you don’t know the answer to either of those questions, that may be the place the first milestone to work towards 😉