NO MARGIN, NO MISSION: The Ethical Imperative to Make Profits

A person in his late 20s was looking for relief after his first startup company sold. He had run himself ragged trying to secure funding, build his team and product, market and sell it, and negotiating the sale transaction. He was looking for a safe harbor where he could relax, regroup, and renew, and he was particularly looking for a shelter where money wouldn’t always have to be top of mind. What did young Casey Rosengren find?

Please tune in this week as Wayne discusses Rosengren’s path and what he learned from a Buddhist monastery, Trappist monks, and Sister Irene Kraus on the subject of money as it relates to the mission of any organization. So many people, contractors included, have conflicted emotions when it comes to the subject of money. Please let us know your thoughts and philosophies in the comments section.

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6 Comments

Kent on January 3, 2024 at 8:29 AM

Happy new year Wayne and FBI. Very good reminder, “profit” is not a dirty word! Thanks.

Wayne Rivers on January 3, 2024 at 10:21 AM

HNY to you too, Kent!
Reply

Vick Crespin on January 3, 2024 at 11:45 AM

It seems too many times both Contractors and our illustrious developer clients forget that we are in this to make money so that we too can provide a better life for our employees, families, and ourselves. And so the undercutting prevalent in our industry continues. Work for the sake of work which makes construction nothing but a commodity instead of a service to be valued. Makes no sense. If we could shift that mindset across our industry we would all do a better job and do better financially.

Wayne Rivers on January 3, 2024 at 4:39 PM

Some are better partners than others, that’s for sure, Vick.
Reply

Paul Mashburn on February 17, 2024 at 8:19 AM

I believe as Peter Drucker says “culture eats strategy for breakfast, lunch and dinner”. Culture is tied to mission. I agree that it is a fallacy that owners choose mission over margin because eventually without margin, there will be no mission. Some companies need to take the time to establish culture and mission before they can realize their potential with margin. Once all of this aligns, margin will typically follow.