From my experience profit drives growth. You have to be profitable or have positive cash flow that can be used to drive growth, especially if you have no or little outside investment into your company.
You should be rigorous in tracking your use of profits to invest to grow. It’s important especially if you’re expensing these investments vs. putting them on your balance sheet. For example, say your business makes $10M in profit but invests $11M in a new initiative to grow. To some, your business will look like it lost $1M when it is actually eleven times more profitable.