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What exactly is the definition of business and why should you be in it? The answer would depend on who you ask. People have different motives for being in business. If you are a CAPITALIST, business to you would be about meeting a "need" in exchange for money". To the one with a "LEADER" mindset business is not exactly about making money (even though it's an integral part of it), it's more about making a "difference" in exchange for money. Changing the order of things for the benefit of humanity while making money.
Why is this important? While there is nothing wrong with being a capitalist per se, exalting money over people may give you an unhealthy transactional disposition to business. On the other hand, genuinely caring about people makes you more sensitive to their deepest need and cravings. When leveraged on, it enables you to identify and curate products that resonate with their direct and desperate needs. Such may result in a breakthrough product. A product they can't resist. One that helps them solve a major problem in a cheaper way or one that perfectly meets their consumption needs. All breakthrough products are usually products that serve people at the place of their greatest concern or desire.
Apart from it's potential to generate market success, ,it has a direct impact on the organization's culture up to the front line employees. Staff members from businesses that value people above profit have high regard for customers and they treat stakeholders feed back with utmost respect. Seeking to make a difference with your business, makes your people passionate about customer satisfaction, innovation and discipline. All those are key things that differentiates the winning brand.
The key difference in all of this is that while the capitalist focus is on " adding value for more money the leader's focus is " adding value for a better world.
Great businesses are founded on great philosophy An organization's philosophy refers to the believe system that feeds her core values. Let's take the example of Steve Jobs. To him, good profit doesn't necessarily mean good business. He believes a business should be more about making a difference than making money. In his book "The Steve Jobs Way", Jay Elliot the former vice president of Apple with William L. Simon write"...the company grew five times bigger while Steve was gone. But he still feels what happened during that time caused Apple a lot of harm...the problem is, as Steve put it ... wasn't the rapid growth but the change in values. Making money became more important than the product.....Apple should have gone for reasonable profit while focusing on a great product to increase market share...." It's an open knowledge that Steve jobs' idea of a great product is one that makes a difference.
Also, the founders of Google only wanted to make the world a better place by creating a more effective search engine. Even though they knew they were in business, they never really knew exactly how Google will bring them money, yet they forged ahead.
It's important to state categorically that taking "making a difference" as your whole essence of business will not give you less money, rather it will position you for greater and ever expanding profit and fulfillment. This is because it arms you with the rare insight of what the customer's priority need truly is. With that, it becomes much easier to figure out how you can create a unique product that can translates into a huge market success and a strong competitive advantage.
In conclusion, its an established fact that customers naturally prefer to take their money to where they are treated with a sense of importance than to a place they feel tolerated.. If you want to win and remain relevant in business, let the real reason why you are in business be about making the world a better place. It is the best reason why you should be in business. With good thinking, lots of money will follow.
