top of page

What is the Purpose of doing Business?

Writer's picture: Lakshman SinghLakshman Singh

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.

Author:





187 views

Recent Posts

See All

1 Comment


Adam
Adam
Aug 25, 2022

Thankks for writing this

Like

Lakshman Singh 

 

UNITED STATES

4340 Stevens Creek Blvd, San Jose, CA 95129

AUSTRALIA

1 John Flynn Ct, Hoppers Crossing, Vic 3029

SINGAPORE

1 Raffles Place, #27-03, Singapore 048616

Connect@Lakshmansingh.com

Get in Touch
  • Facebook
  • LinkedIn - Grey Circle
  • Twitter
  • Pinterest
  • Instagram

© 2024 by Lakshman Singh.

Startup Event in New York | Startup Event in San Francisco | Startup Event in Los Angeles | Startup Event in Toronto | Startup Event in Washington DC | Startup Event in London | Startup Event in Atlanta | Startup Event in Seattle | Startup Event in Berlin | Startup Event in Miami | Startup Event in Chicago | Startup Event in Irvine | Startup Event in Vancouver | Startup Event in Amsterdam | Startup Event in Zurich | Startup Event in Orlando | Startup Event in Houston | Startup Event in Paris | Startup Event in Cambridge | Startup Event in Dallas | Startup Event in Austin | Startup Event in Munich | Startup Event in Montreal | Startup Event in Philadelphia | Startup Event in Boston | Startup Event in San Diego | Startup Event in Redwood City | Startup Event in Tampa | Startup Event in Tel Aviv | Startup Event in San Jose | Startup Event in Fort Lauderdale | Startup Event in Portland | Startup Event in Charlotte | Startup Event in Dublin | Startup Event in Las Vegas | Startup Event in Luxembourg | Startup Event in Vienna | Startup Event in Cleveland | Startup Event in Santa Clara | Startup Event in Denver | Startup Event in Detroit | Startup Event in Phoenix | Startup Event in Barcelona | Startup Event in Raleigh | Startup Event in Milan | Startup Event in Calgary | Startup Event in Nashville | Startup Event in Ottawa | Startup Event in Minneapolis | Startup Event in Santa Monica | Startup Event in Dusseldorf | Startup Event in Edmonton | Startup Event in Stockholm | Startup Event in Oslo | Startup Event in Hamburg | Startup Event in Riga | Startup Event in Durham | Startup Event in Brussels | Startup Event in Lisbon | Startup Event in Baltimore | Startup Event in Frankfurt | Startup Event in Milwaukee | Startup Event in Columbus | Startup Event in New Orleans | Startup Event in Oklahoma City | Startup Event in Eindhoven | Startup Event in Indianapolis | Startup Event in West Palm Beach | Startup Event in Cincinnati | Startup Event in Malaga | Startup Event in Jacksonville | Startup Event in Salt Lake City | Startup Event in Lugano | Startup Event in Warsaw | Startup Event in Louisville | Startup Event in Boca Raton | Startup Event in Tallinn | Startup Event in The Hague | Startup Event in Lausanne | Startup Event in Athens | Startup Event in Rotterdam | Startup Event in Budapest | Startup Event in Utrecht | Startup Event in Bucharest | Startup Event in Stuttgart | Startup Event in Pittsburgh | Startup Event in Madison | Startup Event in Catalonia | Startup Event in Saint Louis | Startup Event in Madrid | Startup Event in Bordeaux | Startup Event in Basel | Startup Event in Kansas City | Startup Event in Rome | Startup Event in Sunnyvale | Startup Event in Cologne | Startup Event in Valencia | Startup Event in Kaunas | Startup Event in Krakow | Startup Event in Vilnius | Startup Event in Bratislava | Startup Event in Leipzig | Startup Event in Darmstadt | Startup Event in Zug | Startup Event in Bonn | Startup Event in Boulder | Startup Event in Thessaloniki | Startup Event in Provo | Startup Event in Sofia | Startup Event in Turin | Startup Event in Copenhagen | Startup Event in Helsinki | Startup Event in Belgrade | Startup Event in Montpellier | Startup Event in Prague | Startup Event in Melbourne | Startup Event in Sacramento | Startup Event in Toulouse | Startup Event in Nantes | Startup Event in Naples | Startup Event in Lille | Startup Event in Marseille | Startup Event in Ljubljana | Startup Event in Geneva | Startup Event in Zagreb | Startup Event in Nice | Startup Event in Lyon | Startup Event in Brisbane | Startup Event in Online | Startup Event in Graz | Startup Event in Bologna

bottom of page