Evan Carmichael shares Charles Koch's definition of principled entrepreneurship: creating profitable enterprises that improve lives and use fewer resources. The core message: the value you deliver to customers directly determines your revenue. Stop providing value, and your business fails.
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Good morning, Believe Nation! Today's message is: Contribute to society. Over to you, Charles Koch.
The role of business in society is to contribute to societal well-being, and if a business isn't doing that, it shouldn't be bailed out, it shouldn't be subsidized, it should go out of business. It should go broke. Now, business does so by practicing what we call principled entrepreneurship, which is maximizing long-term profitability by producing products and services that make people's lives better while using less resources and always acting lawfully and with integrity. Now, I'm not claiming perfection in that regard, far from it, but this is and has been our goal to which we dedicate major resources.
Entrepreneurs are in business to contribute to society. It's all about value. The more value that you provide, the more money you're going to make. You want to make a lot of money as an entrepreneur? You have to provide a lot of value. You want to make more money? Faster? You gotta provide more value faster. And the minute you stop providing value is the minute that your business starts to go under. And I think a lot of entrepreneurs, you may feel like you're not getting the money you deserve, you're not making the money that you want yet, and really the sobering truth is you're probably not providing enough value to your clients. And as harsh a reality as that may be, it's also your recipe for success. Right? Start providing more value to your clients and you will start making more money in your business.
Believe.
So my question of the day for you today is, I'm curious to find out what change you've made in your business to increase the value that then corresponded to more business or increase in pricing and more money in your pockets. Share your story so others can also learn from your success. Leave it in the comments below. Thank you so much for watching. Have an amazing day. Continue to believe and I'll see you again tomorrow morning for another shot. A ver, espresso.
