No surprise, but I liked Fred Wilson’s take on sustainability for businesses. He captures perfectly the ethos we’ve been running BP3 under:
If you want to stay in business forever, you have to focus on the long term. You must construct a business model that builds confidence and trust with your customers and keeps them coming back day after day, year after year.
Many business schools teach executives and entrepreneurs that business is about profit maximization. I don’t believe that. I believe business is about making a profit that sustains the business and enriches the owners but is not maximized in any period (month, quarter, year). I believe the goal of a business is sustainability so that all the stakeholders (customers, employees, owners, suppliers, etc) can rely on the business for the long term.
Yes. This is what we’re after. I’m not sure why it is so hard for people to understand why this is the right way to run a business. Perhaps something about the customer service aspect of consulting makes it easier for consultants to relate to.