Why do we want to start our company? Besides being our own boss, is it to earn more $$$ for ourselves? Is a business or a company all about money?

Face the fact, it IS about money but not all of it. People work for other people in order to earn $$. People start their own company, also to earn $$. Money is needed everywhere. This is how our world works today.

However, based on several books I’ve read…..including Built to Last, Good to Great, Success Built to Last, etc….the experts said that a successful company is not all about money. Yes, you need money to run a company…and you need money to make the company profitable, etc. But, it is not the will to earn money that keeps the company going. It is the will power of the management team (or the pioneers) and the core values they’ve implanted in the company’s people…which keeps the business going, stronger than other mediocre companies.

When a management team focuses too much on making a profit for the company, they neglected their long term plan – to build a lasting and successful company. Someone who focuses only on money-making activities, will regard things like Research & Development as nonsense. To be honest, how many successful corporations out there is without a R & D team? You tell me (ahem, since I didn’t do my survey or research on this…so I’ll have to wait for someone to tell me the answer).

Also, having a set of core values for the company is something very important to do. Most companies do not have this since they are focusing only on earning money. But most successful companies have these so-called core values. They know why they existed….maybe to contribute to the society, to help out customers in their businesses, to improve the nation’s infrastructure, to provide cheap and useful medicines for the people, etc. These core values or mission statements are ways to keep everything (you, your board of directors, your partners, your employees, and your company) going. It provides a sense of satisfaction for the people involved in your company’s operations or activities.

If your company does not have these core values or mission statements…..perhaps it’s time to look at them? Chasing after money is not a wrong thing to do….but sooner or later, you’ll realize that you and your company can’t go far by doing that. Don’t neglect money…..but also don’t neglect the more important things around you. Focus on how you can help the others (customers, people in need, society, etc) AND earning money at the same time.

Therefore, it is necessary for your business to have a set of core values….or mission statements to keep everything going. Believe it or not, when you focus on such core values, the money will eventually come to you. I’m not sure about you, but I seriously believe in this because to me, money is not the driving force behind everything.

Advertisements