What's The Purpose Of Your Business?
- Gifford Thomas
- Jul 22, 2020
- 1 min read
Many leaders make the fundamental mistake of focusing on profit at the expense of making a difference. As a result, the life span of these businesses is often relatively short. I frequently asked new business owners this question:
What's the purpose of your business?
99% of the time, the response is always the same; to make a profit. No wonder 40 percent of companies in existence for over 300 years is located in Japan because their primary focus is serving first, which always turns into profit.
If you are establishing a business only to make a profit as opposed to making a difference in the lives of your customers and stakeholders, your business will find it very challenging to remain in existence.
Never start a business just to make money. Start a company to make a difference.
For a copy of my Amazon Best Seller in Woman & Business and Women's Spirituality, The Inspirational Leader, Inspire Your Team To Believe In The Impossible, you can click on the link below.
Saw a case recently where someone’s background check through a third-party screening company showed a criminal record that didn’t belong to them—it turned out to be a data mix-up with someone of a similar name. They were nearly denied a job because of it. The scary part is how common these errors are and how little accountability there seems to be from some of these companies. With an asurint dispute, the process can be slow, and sometimes they don’t fix it until legal pressure is involved. It’s a reminder to always request a copy of your background report and double-check every detail before someone else makes decisions based on it.
Understanding the purpose of your business goes beyond just making a profit—it shapes your decisions, motivates your team, and defines your impact. Many successful companies align their purpose with customer needs and long-term vision, creating a strong foundation for growth. If you’re looking to refine your business strategy, you might want to check out source from here where you can explore development services that help businesses scale efficiently. Defining a clear purpose not only drives success but also fosters innovation and meaningful connections in your industry.