‘Good Profit’: Something we all should pursue

October 13, 2015

by Nick Novak

This column was originally published by The Washington Times.

It was page 243 that really summed it up for me – the point that brings it all together.

Of course, what am I talking about? I recently read a book that anyone in business, non-profits or any type of organization for that matter should consider reading. While the book takes experiences from one of the largest and most successful companies in the world, the principles behind that business can be used anywhere.

Back to page 243.

“It turned out we were going to make more profit than usual from a particular deal, and a few employees at the table started joking and laughing about how they had outsmarted our customer.

“Sterling … was livid. ‘Stop it! You boys are way out of line! Our customers are our friends. They are the ones that keep us in business. And we don’t make fun of or laugh at friends. It’s not right. And if we continue doing it, we won’t have any friends and we won’t have any business. If we’re going to have friends and business we have to build trust by treating them with respect.’

“At that point, anything I said would have been anticlimactic. So I kept my mouth shut in silent admiration, cheering in my head, ‘Go on, Big Guy!’ Sterling, as usual had said exactly what needed to be said when it needed to be said.”

Something that gets misrepresented in our country is that big businesses – and small businesses – only care about profit. However, the head of one of the largest private companies in the world points out it is not just about profit. It is about good profit.

Good profit is not only about making money. While this is important to any business that would like to continue being a business, the author of this book argues that pursuing good profit will make any company or organization even more successful.

Of course, what is good profit?

It results from customers freely voting with their dollars. It results from offering products and services that improve peoples’ lives – not products and services that result in the best government incentive. It comes from empowering employees to act as individual entrepreneurs to discover the best way to serve customers.

Continue reading at WashingtonTimes.com.