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Profit or Change: What Really Drives Your Company?

Making profits drives most companies. Every investor looks at the potential of growth of a company before they put their money. However, man...

Making profits drives most companies. Every investor looks at the potential of growth of a company before they put their money.

However, many entrepreneurs face the challenge of how much they must charge to make a profit. Some business owners believe that the only way to increase their profit margins is when they charge more.

By @Comic24Derick

While it is not wise to charge low prices, higher prices can affect your business. Other entrepreneurs, like Mark Zuckerberg, for example, are driven by a will to transform the world. And what he has done so far has fulfilled his vision.

Do what you love first, and profits will follow

The Rouse Company founder, James Rouse was convinced that to succeed in business, one must offer quality and superior service. By doing so, customers will buy from you, and the business will flourish.

“Profit is not the legitimate purpose of business,” Rouse said. “The legitimate purpose of business is to provide a product or service that people need and do it so well that it’s profitable.”

The story of how Zuckerberg cofounded Facebook has been told many times. Part of the story says, he and his colleagues spent years creating the business, doing most of the work in the background.
“Many receive advice, only the wise profit from it.” (Image: Pixels) 

The company is now worth billions; however, Zuckerberg maintains that he was not driven by profits alone when he established the business.

Know your goals 

“My goal was never to just create a company,” the young billionaire said. “A lot of people misinterpret that as if I don’t care about revenue or profit or any of those things.”

He added: “But what not being just a company means to me is not being just that – building something that actually makes a really big change in the world.”

Contrary to observers, the Facebook cofounder insists that, though he wants money, what he has created is much bigger than what money can buy. Facebook has changed the way we do business, the way we communicate and it is impacting billions of people.

What is your mission?

To succeed, you must know what you want. And according to George Bezos, your priority must bring change to humanity, and wealth will follow you. If you do what you love, with all your heart, you will never go wrong.

“No matter what your mission is, have some notion in your head,” the billionaire said. “Forget the model, whether it’s government or nonprofit or profit. Ask yourself the more important question: Is my mission improving the world? Are you sure about it? Seek to disconfirm that all the time. And if you can change your mission.”

Never stop learning

“The successful man will profit from his mistakes and try again in a different way.” – Dale Carnegie

Life, according to Carnegie will throw everything at you. Along the journey, we make many mistakes, whether intentionally or unintentionally. But our mistakes are not there to harm us or derail you from your target.

These might be temporary setbacks, but we need to gain something from them in the future to avoid it in the future. It will be stupid to use the same formula that did not work before.

The wise thing is to implement a new concept and you will make a difference. Profits are not confined to business dealing; they are part of our daily lives.

John C. Maxwell, adds that: “A man must be big enough to admit his mistakes, smart enough to profit from them, and strong enough to correct them.”

The motivational speaker admitted that failing is not weakness like what some people may believe, but rather a step in the right direction. People who admit their shortcomings, and choose to learn from them, have become great people later in their lives.

Advice may be free but it’s not for everyone

Not everyone will accept the guidance that they get, even if it can change their lives. One who is prepared to implement what he is told is considered wiser because he has shown great humility. When you get advice, you can either take it or leave it, it's up to you.

To emphasize, this point, American writer, Harper Lee wrote: “Many receive advice, only the wise profit from it.”

The benefits of etiquette

“Good manners are cost-effective,” etiquette expert, Letitia Baldridge said. “They not only increase the quality of life in the workplace, they contribute to employee morale, embellish the company image, and play a major role in generating profit.”

Massive sales, reducing production costs will guarantee you profits; however, your company needs to invest in employees who add value. You must not concentrate much on making profits.

Happy employees, working in a conducive environment are highly likely to produce good results and portray the company in a good light. In that way, the company will profit on all fronts and not concentrate on profits alone.

Communication is an art

Many people are convinced that after giving instruction, they have communicated their message. Communication sadly is more than that. Plutarch, a Greek philosopher once said: Know how to listen, and you will profit even from those who talk badly.”

People who pay attention to what others say, before they respond will benefit from the exchange. You need to be proactive. Don't be reactive before you carefully assess the situation.

The definition of a risk-taker

“Soros has taught me that when you have tremendous conviction on a trade, you have to go for the jugular. It takes courage to be a pig. It takes courage to ride a profit with huge leverage.” – Stanley Druckenmiller

The American investor took the advice of George Soros, and this transformed him. In his dealing, Druckenmiller was aggressive, and this made him very wealthy.

By choosing to be daring, he profited in his investments. Successful people are defined and driven by doing what others are afraid to do. This makes them different.

Business is more than profits

The late investment banker Felix Rohatyn brokered huge deals in his lifetime, but he valued his association with other people on a personal level which benefited his business. 

Maintaining a close relationship with people will offer you more benefits in the future. He said: “At its core, banking is not simply about profit, but about personal relationships.”

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