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Profit is the driving force behind any business. It isn't just what is left over at the end of the month or the end of the year; profit is something for which you must plan. "If you aren't making a profit or don't know where you stand, there is no satisfaction in running a business. That's when laboratory owners tend to get resentful about the industry," says Dennis Carreon, CDT, owner, Naturalistic Ceramics, a five-person laboratory in Long Beach, CA.
Many lab owners pay all their bills and then consider what's left as profit. This is not a systematic approach. "Every laboratory owner should...
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