What’s Wrong with Profit?
I love profit.
As a serial entrepreneur who has owned and operated more than 13 businesses, one of my core purposes in business (besides providing massive value) is to create profit. Profit is a differentiator between a business and a hobby. So my focus is to create a ton of it, as much as I possibly can, because profit is a wonderful thing. With it, you are able to take care of your employees, provide financially for your family, reinvest into your organization for continual improvement, and expand your reach and influence for a greater impact. The more cash flow you have in your business, the better quality options you have. As a business owner, it would be a shame not to setup your business to be as profitable as you can. (Of course, this is with the pre-requisite that your business is providing massive value to all parties involved and operating in an ethical and moral manner.)
Too often, I see business owners make excuses for themselves that they don’t want to make more money because “money isn’t everything.” Or, they say that they are content with their current finances because “they don’t want to work 24×7”.
Yes, I’m in full agreement that money isn’t agreement. And, I am a believer in having balance in your work and life. But I wonder if what they’re really saying is:
“I don’t know how to make more profit.”
Let’s be honest. Because if they did, why wouldn’t they make more profit? If you could make a greater impact, why wouldn’t you? Even if money isn’t everything, why not be a greater steward of the opportunity and platform that you have to serve others. Does making more profit always mean you have to work “24×7”? I don’t think so. What happened to working smarter and more strategically?
Question: How high does a tree grow?
Answer: As high as it possibly can.
Question: How fast does a cheetah run?
Answer: As fast as it possibly can.
Question: How far does a river run?
Answer: As far as it possibly can.
Question: So how much profit should a business make?
I think we all know the answer. Perhaps the better question to ask is … why aren’t we? What one action can we take today to better equip and educate ourselves in stewardship?
Blog post by AAm contributor Tom Shieh – Connect with Tom on LinkedIn
Tom Shieh is a creative, serial entrepreneur with a Bachelor’s Degree in Electrical Engineering and Master’s Degree in Telecommunications. Originally from Taiwan, he has several years of technical and management experience at IBM, Level 3 Communications, and Northrop Grumman. In his spare time, he enjoys spending time with his wife and 3 kids, working out, playing the guitar, basketball, and is active in his church.