Uber wasn’t profitable until 2023—and then made $1.88B.


Hey Reader,

Let me give you a stat that should completely rewire how you think about business:

Uber launched in 2009.
It didn’t become profitable until 2023.
And when it finally did?
It posted a net income of $1.887 billion.

Fourteen years of not being “profitable.”
Fourteen years of growing, spending, scaling, optimizing—before ever seeing black ink.

So let me ask you this:

If you didn’t know that stat… would you have ever guessed Uber wasn’t profitable?

Probably not.

Why?

Because as a consumer, you only see the brand.
You see the demand. You see the convenience. You see the logo on every phone in every city.

But as a business owner? You better learn to see the difference.

Uber was:

  • Losing money on paper
  • Spending millions on expansion and marketing
  • Still raising funding
  • Still increasing cash flow
  • Still dominating market share

And most importantly: still in business.

So what does that tell you?

Profit is not the only measure of success.

You can be:

  • Making money and not profitable
  • Growing rapidly and still in the red
  • Dominating your industry and not “profitable” yet

And that’s okay.

Because profit comes after mastery.
Businesses learn how to become profitable.
They don’t start there—they earn their way there through strategy, scale, and systems.

Let me say it louder:

You can be building the next billion-dollar brand and still not be profitable—yet.

I talk to boutique owners every week who’ve shut down because “it wasn’t working.”

But the truth is:
It was working.
They just didn’t understand what growth looks like before it shows up on a profit & loss statement.

I didn’t build a 6-figure online boutique by chasing profit first.
I chased cash flow. I chased momentum. I chased growth—because I understood:

  • If I had cash, I had choices.
  • If I had growth, I had leverage.
  • And once I had systems, the profit showed up.

So here’s your reminder:

You’re not failing if you’re not profitable.
You’re failing if you give up before you learn how to get there.

Want help building a business that grows first—and profits next?

Uber took 14 years.
You just need to stop quitting at year 2.

Talk soon,
Jance


The Boutique Academy

Read more from The Boutique Academy

Hey Reader, When I first started planning for Black Friday, I thought I could just jot down a list of things to do and make it happen. Post here, email there, offer a discount. But year after year, I realized this: executing a month like November (let alone Black Friday weekend) requires way more than a piece of paper with a to-do list. Here’s the problem most small business owners don’t see:– Waiting until November to think about November is already too late.– Waiting until the week of Black...

Hi Reader, I want to personally thank you for purchasing a ticket to Sales in the City: Houston. Your support means everything to me and it’s never something I take lightly. Unfortunately, I have to share that we’ll be rescheduling the Houston stop of the tour this year. After doing everything we could to push momentum, we simply didn’t get the level of interest we needed to make the event feasible and I’d rather be transparent with you now than risk delivering an experience that doesn’t...

Hey Reader, Let’s talk about a brand that most people love to side-eye… but should be studying: Goop. Yes—that Goop.The wellness brand started by Gwyneth Paltrow.The one selling $90 candles, $125 face serums, and $300 “detox” kits. You can roll your eyes all you want—But Goop is reportedly valued at over $250 million today.And you know what it started as? An email.Not a store.Not a product.Not even a fancy website. Just a newsletter. 2008. Gwyneth Paltrow. One email. Sent to 10,000 people.It...