How it matters whether you’re in it for the profit or for the cause …

Read more thoughts on the art of communicating week-daily at https://michaelgerharz.com/blog

Mentioned in this episode:

My new book is out now

You’ve got a bold vision and a strategy to achieve it! But why does your company seem to be standing still? Why is the gap between what strategy promises and what it delivers so vast and disheartening? And what to do about it? Find out in my new book “The PATH to Strategic Impact”: https://geni.us/the-path

New book

There are two kinds of businesses.

Those that set out to make a great product.

And those that set out to make a great profit.

It might turn out that both end up with the exact same product that generates

the exact same amount of profit.

But it feels vastly different to be a part of each.

When your goal is to make a profit, you'll likely optimize your product

so that it maximizes your profit.

Quite likely, the best way to maximize the profit is to build a product

that is great for your customers.

But ultimately, that's not what these businesses care about.

They don't care for people.

They care for profits.

For them, customer satisfaction is a means to drive profits.

When your goal is to make a great product, you will likely optimize your

product to solve a specific problem or to serve a need of your customers.

Quite likely, the best way to solve this problem or to serve that need,

is going to appeal to your customers, thus leading you to make a profit.

But ultimately, that's not what these businesses care about.

They don't care for profits.

They care for people.

For them, profit is a means to drive customer satisfaction.

for you, is customer satisfaction

a means to drive profits?

Or is it the other way round?

Do you make profits in order to drive customer satisfaction?