Maximize profit, not impact. (This is wrong thinking! Shun it!)
Rather, intentionally create market outcomes by tying together profit with impact.
Profit first can be a slippery slope because you cut corners and trim margins, and offer sub-par services just to make a profit. Why has one of the fastest growing and most revolutionary companies in the world barely turned a profit in 20 years? Because they have a long-term, future based vision that will stop at nothing to impact industries, impact the world, and impact the way people shop.
Amazon.com doesn’t care about profits. Sure they have revenue, but they’re tying vision to the strategy first. Then profits comes once they’ve invested, innovated, and created what they’re building.
The same goes with launching a new business. If all you care about is turning a profit, your thinking is skewed and could cause you to stunt the growth of your little venture.
You have to invest in your people, your knowledge base, your equipment, your culture first. Then strive for profits.
By all means, this sucks sometimes. Profits are awesome. We want them. The market demands them. Investors demand them.
But if all you care about is profits, you’ll run people out of the building. Your desks will be falling apart. And maintaining a future vision doesn’t exist in your culture.
Stop the bleeding. Invest in your people. Strive for excellence. Then push as hard as you possible can for profits. There are no shortcuts. And it’s not easy.
Like Walk The Moon says, "So shut up and [work] with me!"
(photo via ron wiecki)
Posted on June 8, 2015
by Tim & Tommy filed under