The English dictionary defines business as “the activity of providing goods and services involving financial, commercial and industrial aspects”. My definition of business is slightly different and somewhat simpler: business is people serving people.
This creates loyal customers who enjoy regular return visits to your business and love spending money on your products and services. Through word of mouth and social media, these loyal customers become your brand ambassadors and encourage others to do the same, which ultimately generates the necessary income to deliver good financial returns over a sustained period of time.“People before profits” does not mean that people are more important than profits.
Too often, profitability depends on how much you can take out of the business rather than what you can put into it. The quest is to become “lean and mean”. This is an interesting description, especially when you look at the literal meanings of these words where lean is “skinny, scrawny or bony” and mean is “nasty, uncaring or malicious”.
A short-term profit obsession can lead to some fundamental blunders, particularly when restructuring is overdone, and the staff complement becomes so thin that the business can no longer effectively serve its customers. The infrastructure collapses and the culture of survival looms large.
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