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What is the Purpose of doing Business?

Business Owners & Startup Founders:

1. The purpose of doing business is not about how much you can total revenue your bsuiness earn in a month or year rather it should be that what impact your business is making in a customer's life & how much happy your customer is.

Three purposes are served if this approach is used in your business:

1.1. The more is the impact in a customer life, the more sustainable your business is as customer retention is very high in this case. For eg: Apple & Amazon

1.2. The more is the impact, the more profitable your business is as now customer would love to buy more & more from you. For eg: Apple & Amazon

1.3 If the impact is more; then it will be very very hard for your competitor to steal your customer until & unless something exceptional happens but that too will take time. For eg: Apple & Amazon

Business is never about filling up your pocket, its about giving what customer is looking for and even more than that to make that a WoW factor. Eventually its customer who is going to fill your pocket, no one else.

2. Business is about bringing the change in the ecosystem. Its about making an impact in the ecosystem. Think of it in the following ways:

Two purposes are served this way:

2.1. If you are building a product or delivering services, it requires people to do the task, consider every person has at least 5 direct or indirect dependents, every job created just not help one but the 6 people in the ecosystem. For eg: Walmart & China National Petrolium, Indian Railways

2.2. somehow try to make your business work in a way where you are involving small businesses or very small businesses as your suppliers, outsourcing partners etc. This will help in bringing the bottom layer into the mainstream and trust me, there is a lot (money & users) at the bottom layer. For eg: Amazon

Always think of putting your customers first rather than your business model & revenue generation methods.



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1 Comment

Aug 25, 2022

Thankks for writing this

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