I was speaking with a mentor about 2 weeks ago. He reminded me that the sole purpose of business is to create profits. This goes against those who believe the sole purpose of business is social rather than economic. But I find that profits are a social good. They are an economic good. They produce a stabilizing influence in society and make us stronger – not weaker.
I had to remind myself this weekend of this basic principle: business is meant to produce wealth. The activity of business can be repeated, so wealth is a renewable resource. In every decision I make now, I ask myself: will this increase or decrease profits? If the answer is the latter, then we don’t do it.
Bill English, CEO