From the course: Leading with Purpose
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Profit is not a purpose
- Are you telling a money story or a meaning story? Your answer will determine whether your team is average or exceptional. I'm going to say something that might make your head spin. Profit is not a purpose. It sounds like heresy, but it's true. Here's why. If you make profit your primary focus, you're looking inward, and that's not where the money is. The money is out there with customers. Peter Drucker once said, "Profit is not the purpose "of a business. "It is the test of its validity." Imagine two organizations. One focuses on internal metrics. The primary questions they ask in meetings are how can we generate more revenue? How can we improve our margins? How can we reduce expenses? What can we do to get a better ROI? They're good questions, but who's missing from that conversation? Ah, the customer. Now imagine another team. In their meetings, they as questions like, how can we provide more value? How can we have a bigger impact on our customers? How can we improve our customer…
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