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.
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