Previously Published on LinkedIn

By Ed McLaughlin and Wyn Lydecker

Is profit evil? We raise this question to frame the debate: What is the reward for taking the risk to start and build a business? As I see it, if you develop a value-added idea and start a business by putting capital, reputation, and sweat equity at risk, you have earned the right to make a profit – because profit is the fuel that underwrites a sustainable business. Yet, some people are concerned about the concept of profit because they believe it comes at the detriment to others.

 

To Profit or Not to Profit…

In fact, a few people have contacted us, taking issue with our focus on profit. The dissenters have expressed a belief that putting profit first means the entrepreneur wants to increase personal wealth at all costs. Yet, most of the entrepreneurs and business owners that I know understand that they cannot build a sustainable business if they make a profit at the disadvantage of others. Still, the comments have made us question the title of our upcoming book, “The Purpose Is Profit: The Truth about Starting and Building Your Own Business.”

 

Our Belief

After consideration, we’ve come back to our belief that the core purpose of every business is to make a profit. If you are starting out to launch and build a business, you want to achieve success. Otherwise, what is the point? Success is measured not just by revenue, a fast-growing customer base, and social good – but also profit.

 

Profit is the fuel for growth, sustainability, and social impact. Profit enables a business to achieve all of the following 5 goals:

1. Pay bills and save some money for a rainy day
2. Underwrite the cost of sustainable job creation
3. Fund business growth and expansion
4. Enable social responsibility and giving back
5. Fuel the fulfillment of the entrepreneur’s vision

We’ve summarized our beliefs in this brief video. It lasts less than a minute. We’d like to know what you think after viewing it.

Our question is this: Can you build a successful, sustainable business without making a profit?

Please share your views in the comments, send us a message, or email us at:Ed@ThePurposeIsProfit.com.

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