A Common Misconception

Many people equate a good business with one that is simply profitable. However, these two notions do not always align. There are numerous unethical businesses that generate substantial profits.

Is it truly "good" to produce goods and services that harm customers' health or contribute to their premature demise? Is it commendable to design products intended to foster addiction, disregarding the well-being of consumers?

Additionally, is it "good" for companies to exploit their customers financially to the point where they face hardship? Should businesses knowingly underpay their employees, exacerbating their struggles?

Moreover, is it acceptable for these companies to overburden their staff, leading to significant burnout? Should they pressure suppliers into unprofitable situations while incentivizing the production of subpar materials?

Finally, is it "good" for leaders in these organizations to deceive their customers, suppliers, teams, and stakeholders to conceal their lack of positive impact?

I contend that none of these behaviors align with the notion of a "good" business, yet they are prevalent among many of the most profitable companies today.

The Reality of Profit and Its Implications

Industries such as technology, processed food, fossil fuels, and pharmaceuticals often rank as the most profitable, yet they contribute little to the long-term well-being of their customers.

Is this truly "good"? Absolutely not.

While it is important for good businesses to also be profitable, one must consider the purpose of that profit. If profits only serve to enhance financial statements without making a positive impact on any stakeholders, can we deem that "good"?

The answer is no. Is it truly beneficial to prioritize profits at the expense of a sustainable future? Again, no.

A genuine good business must ensure that its profits contribute positively to the future.

Token gestures, such as donating a fraction of sales or delaying environmental improvements, do not constitute true contributions. If profits do not enhance customers’ lives significantly or foster a beneficial supply chain, they cannot be considered genuine contributions.

Profit for profit's sake, or superficial profit, is of little value. If a business must resort to manipulative tactics to retain customers, it is already failing in its mission.

The Vision for True Goodness in Business

I am weary of witnessing businesses celebrated as "good" when their most significant contributions worsen the world. I am tired of leaders praised for their roles when their actions devastate the lives of employees and consumers.

I aspire to see businesses that genuinely enhance the lives of their customers over the long term, without resorting to manipulative methods. I want to observe real solutions to challenges rather than temporary fixes that make lives harder.

I envision leaders who are genuinely respected and appreciated by both employees and customers. I seek improved supply chains that bolster customer welfare.

I long for authentic regenerative efforts that uplift the world as a whole. I desire leaders who forge legacies rooted in regeneration.

That, in essence, would define a truly good business.

Video Description: This video discusses the three essential elements every business needs to thrive in today’s competitive landscape.

Video Description: This video offers a comprehensive guide on how to start a business correctly, focusing on foundational strategies for success.