James B. Pepper Rutland on How to Balance Profit and Purpose at your Business

A lot of entrepreneurs these days struggle to balance profits with their purpose. People can have their business as one of the top corporations, but it wouldn’t mean anything if they aren’t driven. Here are a few ways that business owners can  balance profit with purpose: Seek Out Sources of Inspiration Sitting in an office […]

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A lot of entrepreneurs these days struggle to balance profits with their purpose. People can have their business as one of the top corporations, but it wouldn’t mean anything if they aren’t driven. Here are a few ways that business owners can  balance profit with purpose:

Seek Out Sources of Inspiration

Sitting in an office while waiting for something interesting to happen can take the joy out of anything. To be successful, business owners should step out of their comfort zone and find inspiration. Sometimes, this means thinking of ways to combine passion with purpose to find the right way to create a successful strategy.

Finding inspiration can be done through a variety of methods whether it’s taking a trip across the world or seeing something in the streets. What’s learned and experienced can then be used for future business ventures,  and lead to profit.

Tell The Story

Success lay on only the business owner’s shoulder. The team that helps make their dream business a reality is a critical part for those who want a business with purpose. Let them know the story and invigorate them to keep on working. Over time, the need to expand will occur and when it does, it’s important to be on the lookout for those who share the same views.

Who is inspired by the story? Are they motivated by the purpose of the company? Are they willing to put in the work and spread the word? There is no purpose or profit for those who are only in the company for themselves.

Pay To Grow

Unfortunately, nothing in this world comes free and growing a business is certainly no exception. In fact, the most crucial part of balancing purpose with profit is financing the growth of a business. With the right employees, investors and partners, a business can be taken to new heights. However, this isn’t something that can be glossed over. It’s important to know that these people are trustworthy and are willing to take the risk.

Running a successful business takes more than money in the bank. It takes passion, purpose and a sound business plan that incorporates both of these elements.

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