GOOD

AFTERNOON
BRAIN TEASER!
 The goal of all
businesses is to
make money, but
those that have a
purpose beyond
BUSINESS BEYOND PROFIT
 Profit is an output, not a
purpose
A business must have reason to exist beyond that
of making money and maximising shareholder
value. Profit cannot be the goal, vision, or the
purpose of an organisation.
An organisation that posts great year end results
doesn’t automatically earn the title of being a
great company.
Seeking profit as a primary business purpose
is like building a house of cards or building a
house on sand – it will eventually lead to
collapse (ably demonstrated by many
financial institutions over the previous
months).
Profit is too temporary to guide a business by.
If a business’ main purpose is to make a
profit, this will both lead to a lack of strategic
direction and reduced staff motivation.
For employees, once they have earned the
company enough to cover their salaries,
they make money for the owner of the
business.
THAT’S NOT A REAL PURPOSE!
 7 good reasons not to use profit as your primary purpose

 Profit is an output and a symptom of success, not the cause.

 Profit is temporary and can be wiped out in an instant.
 In tough times, profit can be hard to come by.
 You need more purpose than profit to make it through.
 Profit doesn’t motivate the salaried staff who make success
happen.
 Customers don’t appreciate being seen just for their revenue.
 Consumers are increasingly focusing on values and
contribution to society when choosing who to do business
with.
 Beyond profit…

A true vision for a business rests on foundations

of both purpose and values. The people within
the business have to be passionate about what
they do and why they do it.
 The business’ goals must then align with this
foundation. Without a clear foundation, a
business will never be truly strategic.
 Values

A business’ core values are defined internally

through a process of introspection and
discovery, and are based not on the outside but
on what lies within.
 Core values do not change with the seasons but
are deeply held values already embedded
within the DNA of an organisation.
 Values

To give you some examples, core values

held by a variety of well-known
organisations include: imagination; product
excellence; great customer service;
respect for the individual; quality; market
focus; teamwork.
 Purpose

 Thecore purpose of a business is also

discovered by introspection and discovery. A
business’ core purpose is its most fundamental
reason for being.
 By stripping away the layers of what a business
does and what motivates it, any company will
discover a deeper purpose that unifies and
motivates.
 PURPOSE
Inessence, to discover your business’ core
purpose, you could ask, “Why does this
business exist?”
Again, to give you an example, the core
purpose of my wife’s tutoring business is to
“Help people realise their full potential.”
6 good reasons for your business to look beyond profit
 Purpose and values motivate and unify management and
staff.
 Purpose and values give a company a solid foundation from
which to make decisions.
 Purpose and values provide a navigational compass to all
elements of the business.
 Customers will have more to buy into and engage with.
 Purpose and values encourage loyalty of both staff and
customers.
 Purpose and values encourage a strong culture and ethos
within a business.