The Purpose of Business for Strength or Self-Indulgence?

I was reading a publication by Charles Handy titled "What's a Business for?" by Harvard Business Review. Reprint R0212c." 

I could not help reflect upon this article in the way businesses operate today and the influences or lack thereof for the general community and for the economy. 

Charles Handy stated, "A few rotten apples would not contaminate the whole orchard." The illicit and deliberate acts of executive self-indulgence sacrificing the many to richly reward the few has been seeping destructive economic resolve for decades. However, the unreliability of people with virtue and integrity regarding business increase the instability of consumer confidence. People have demonstrated less confidence in an organizations product and/or service offering when the people that help run the company are found to be less reliable in ethics.

Markets rely on rules and laws to help assist in providing consumer confidence. However, the success with consumer confidence depends on the truth and trust with those that must be in compliance. Trust is too fragile and it must be earned. It takes a long time to regain consumer trust once that trust is compromised due to lack of good faith from corporate leaders.  

 In fact, Charles Handy referenced that Forty-three percent believed that senior executives were only in it for themselves. This leaves an uneasy level of consumer confidence in believing in and purchasing the very product and/or services to sustain economic stability. This is why virtue and integrity is so vital to an economy. 

The real justification, as Charles Handy referenced, is for the existence of business be to make a profit so that the business can do something more or better. That “something” provides a win-win scenario in every aspect of economic stability and growth. The ability to instill confidence for the consumer can have exponential gains with the consistent demonstration of world value for the consumer. 

I can only imagine a world that with virtue and integrity will flow through the blood stream of every critical organ of business to reclaim consumer confidence, that we can establish greater unified communities to keep the heartbeat of a worldwide economy strong.  

Stop Investing in Liabilities and become a Master!

I read the book Rich Dad/Poor Dad by Robert Kiyosaki and Sharon Lechter along with some snapshot videos by Rich Grad. I found it important that we must truly determine the value of what we have learned growing up regarding financial management and financial success. I learned when I was a young boy that it takes money to make money. I learned this primarily from my parents. We were considered living a poor people. Money was earned from both of my parents working hourly jobs. When they were paid the money came in and then it came right back out to pay for expenses. I thought this was how everyone lived their lives.

Then I watched my grandmother run her own company up to about 11 years old. She picked up grandpa’s company soon after he passed away. She lived what was considered a middle class lifestyle. The income was large and it went to liabilities and then onto expenses. What income she brought in went back out to pay for the liabilities and expenses. So, I adjusted myself to live the lifestyle my grandmother lived.

From reading the book and the little Rich Grad segments, I have now learned that a wealthy person lives off their assets. An asset is money coming into your pocket without you having to putting in one hour of labor. I always thought owning your own home was an asset. After all, it was all part of living the American dream. I have learned since that a home is not an asset. A home is a liability unless it is rental property. If what you own is not putting money into your pocket then it is not an asset.

To have long-term financial freedom and financial success you must invest in assets. The more assets the more wealth. Start small investing in assets and in time, the assets will take care of you and your family regardless if you are employed. This is what we should be teaching our families. This is the financial management and freedom that will help our families for generations that follow.

Here are some links to Rich Grad that I think you will find enlightening.

https://www.youtube.com/watch?v=Lk9fkZ6kT1g

https://www.youtube.com/watch?v=11yT_lZag3Q

To Persevere or die!

I have read several articles this week in which I would like to share with you.

“Are Successful Entrepreneurs Born or Made” by Jeff Sandefer

The invaluable bonds and assets formed as you work with other people help us master the critical skills and character to stay the course and ease the running of a successful business. It is not the love of money that allows us to be successful. The love of helping other people become successful is what helps us to be successful and edified. Nothing beats out the competition stronger than the trust and integrity shared between two people or between two organizations.

"Perseverance" by James E. Faust

I have two significant thoughts regarding this talk that stood out to me. They are to not become discouraged when faced with challenges and to get up when one falls down.  We will face challenges in our lives. It is unavoidable. It is part of the plan to help prepare us to learn to become more like our Father in Heaven. The adversary delights when we become discouraged, when we lose the faith in becoming the child our Father in Heaven knows we are to become. We have a great purpose in this life. The talents, gifts, and love in helping one another will provide a way for sustaining life on the earth.

We will make mistakes. The errors can have a long-term effect on us temporarily and spiritually. An error on a tax return or an error in hiring someone who embezzles from you can cause long-term challenges temporarily. It can, if you let it, cause long-term spiritual challenges as well.

We have an unshakeable opportunity to stand strong in our beliefs and conviction in keeping our focus to helping and serving one another. We, with help, right our errors and leave with peace no matter the challenges that are set before us. Perseverance to continue shows our ability to become the child of God we are to become. We must not let the things in this world bring us down. We must establish the personal relationship with our Savior that will help us endure and succeed in this world.

The common thread is character and the perseverance to endure the challenges of success and near success.

May perseverance be instilled in us with all that we do in our daily lives.

You can read more about Jeff Sandefer and download the article for yourself at http://www.actonmba.org/2011/09/person-12/

You can also read the talk given by James E. Faust by choosing this link http://www.lds.org/general-conference/2005/04/perseverance?lang=eng.

The DNA of You

I completed reading a book that I encourage you to read, titled "the Start-Up of You" by Reid Hoffman and Ben Casnocha and found useful insights that I now share.  

It is in our DNA makeup to survive in this world. Our success stems from our ability to adapt to various environments. Unlike in times past, we must formulate a new direction. The methods our ancestors used to be successful will not find the same result in today’s ever-changing economy. We must not and can no longer do this journey alone in order for us to survive. We need to shy away from the old formula; “It’s all about me.”

It is imperative to use the improved formula of “I^We” or “I” to the “We” power according to Reid Hoffman.  Greater levels of achievement are made when we work together as a cohesive, intuitive, and intelligible collaboration of information called “Network Intelligence.” 

I was brought up to keep secret your niche product and/or service to yourself. The formulas, methods, and designs set you apart from the competition and in certain aspects, this holds true today. However, the “My Precious” approach of keeping everything to ourselves are stifling and limit us to the exponential changes in globalization and advancements in technology. We are designed to succeed in this world and we need not make the feeble attempts to achieve success alone. Let us grow farther faster learning from one another and quit attending “The School of Hard Knocks.”

I value your thoughts and extend an invitation to share in this journey. Click the link to view my profile http://www.linkedin.com/in/mattbeckwith/.

To order the book "The Start-Up of You", by Reid Hoffman and Ben Casnocha, Published by Crown Business, ISBN: 978-0307888907 please click this link:  http://www.thestartupofyou.com.

I wish you great success in your new-shared journey.