Make Purpose Greater Than Profits

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What's the most important small business help I've received? Build a business that's greater than you, with a higher purpose beyond mere profits. We learned purpose from Jerry Porras and Jim Collins in their bestselling book, Built to Last. When your company is built on a solid purpose, you'll guide and inspire your company to do many great things. It's not an ideological finding by Porras and Collins. When you have purpose, you won't revolve your company around a product -- which like all products, will become obsolete. Instead, you reach for the shooting star -- and while you'll never get there, it will be your guide in all of your endeavors. This is the key to making your company last not only until you retire, but beyond your own life. It's a great legacy to leave behind. When Walt Disney built his company, he had one purpose in mind: to make the world happy. This became a never-ending quest for his company even after his passing. The construction of your company should constantly improve, as it will never be completed. Your purpose will help ensure you of this. The best small business help we've received is to emphasize purpose over profits. Without it, I don't think we'd all still be in business.

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Posted on February 18

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