Understanding the Profit vs. Purpose Dilemma
Jeremy Axel opens the episode by acknowledging a universal founder’s struggle: the desire to build a business that stands for something bigger, while facing the harsh realities of cash flow, payroll, and market competition. The temptation to “sell it and figure it out later” is real, especially when financial pressures mount.
Key Insight:
Chasing profit at the expense of purpose can lead to misaligned projects, strained teams, and ultimately, a diluted brand. The real challenge is to create a business where profit and purpose reinforce each other, not compete.
Tip 1: Qualify Opportunities: Don’t Chase Every Dollar
Doug Cox emphasizes the importance of rigorous pre-qualification during the sales process. Not every client or project is a good fit, and saying “no” is sometimes the most strategic move.
Actionable Steps:
- Develop a Clear Ideal Client Profile:
- Define the industries, company sizes, values, and needs that align with your strengths and mission.
- Implement Pre-Qualifying Questions:
- During discovery calls, ask questions that reveal whether the prospect’s needs truly match your offerings.
- Example questions:
- What are your core business challenges?
- What values are most important to your organization?
- How do you define success in this partnership?
- Empower Your Team to Say No:
- Create a culture where declining misaligned opportunities are celebrated, not penalized.
- Document and Review Outcomes:
- Regularly analyze which clients and projects lead to the best results and which cause friction, using this data to refine your qualification process.
Expert Advice:
“Early in my career, I sometimes strayed from this process, but I’ve learned that alignment over revenue is the only way to build a sustainable business.” — Doug Cox
Tip 2: Build Integrity into Your Sales and Leadership Processes
Jeremy warns against the “sell at all costs” mentality, which can erode trust and create operational chaos. Instead, he advocates for embedding integrity into every process.
Actionable Steps:
- Establish Non-Negotiable Values:
- Identify the core principles your company will never compromise on, even under financial pressure.
- Create Guardrails for Decision-Making:
- Develop checklists or frameworks that help your team evaluate opportunities against your values.
- Train for Integrity:
- Regularly discuss real scenarios in team meetings where integrity was tested, and celebrate those who upheld company values.
- Lead by Example:
- As a leader, model the behavior you expect from others. Admit mistakes, own tough decisions, and be transparent about your reasoning.
Nuance:
Integrity isn’t just about big decisions; it’s about the small, everyday choices that define your culture.
Tip 3: Evolve Your Company Values with Honesty
Both hosts stress that company values aren’t static. As your business grows and the market shifts, your values may need to evolve.
Actionable Steps:
- Schedule Regular Values Reviews:
- At least annually, gather your leadership team to assess whether your stated values still resonate internally and externally.
- Solicit Team Feedback:
- Encourage honest input from all levels of the organization about which values feel authentic and which feel outdated.
- Adapt Without Losing Your Core:
- Be willing to let go of values that no longer serve your mission, but ensure you’re not abandoning your foundational purpose.
- Communicate Changes Transparently:
- When values evolve, explain the “why” to your team and stakeholders to maintain trust.
Expert Insight:
“Holding too tightly to an outdated vision can become toxic, especially if the market isn’t ready or the company has outgrown its original purpose.” — Jeremy Axel
Tip 4: Lead with Authenticity and Welcome Pushback
Jeremy and Doug agree: the best leaders are those who foster open dialogue and welcome constructive criticism.
Actionable Steps:
- Encourage Honest Conversations:
- Make it clear that pushback is not only allowed but expected. This leads to better decisions and a more engaged team.
- Practice Humility:
- Admit when you don’t have all the answers. Share your own learning moments and invite others to do the same.
- Collaborate on Solutions:
- When challenges arise, work with your team to identify gaps and co-create solutions, rather than dictating from above.
- Avoid Leading by Authority Alone:
- As Doug puts it, “You pull a string, you don’t push it.” Leadership is about guiding, not forcing.
Real-World Example:
Jeremy shares that he finds team pushback amusing and valuable, as it often leads to better outcomes and a stronger culture.
Tip 5: Align Personal and Professional Integrity
A recurring theme is the importance of consistency between how you lead at work and how you live at home.
Actionable Steps:
- Self-Reflect Regularly:
- Ask yourself: Am I the same person in the office as I am with my family and friends?
- Be Transparent About Flaws:
- Don’t hide behind a facade of perfection. Authenticity builds trust and loyalty.
- Lead Yourself First:
- Prioritize personal growth and self-leadership. When you hold yourself to high standards, your team will follow.
- Model Work-Life Consistency:
- Share stories of how your values guide you both professionally and personally.
Warning:
Presenting a false front at work that contradicts your personal life will eventually erode trust and credibility.
Tip 6: Profit Follows Purpose: Not the Other Way Around
Profit and purpose are not mutually exclusive. In fact, sustainable profit is a byproduct of delivering genuine value aligned with your mission.
Actionable Steps:
- Focus on Value Creation:
- Design products and services that solve real problems for clients who share your values.
- Empower Confident Sales:
- Train your sales team to promote offerings they truly believe in, rather than pushing for a quick sale.
- Measure Success Holistically:
- Track not just financial metrics, but also client satisfaction, team engagement, and alignment with your mission.
- Accept Fluctuations:
- Recognize that profits will ebb and flow, but a strong purpose and culture will sustain you through tough times.
Expert Perspective:
“Profit should flow naturally from delivering value aligned with the company’s mission, not from chasing revenue at any cost.” — Doug Cox
Final Thoughts: The Enduring Power of Purpose-Driven Leadership
Jeremy and Doug close the episode with a powerful reminder:
Profit is important, but it should never come at the expense of who you are as a leader or the values your company stands for.
Key Takeaways:
- Integrity and authenticity are the foundation of lasting success.
- Regularly revisit and adapt your values to stay relevant and authentic.
- Empower your team to make decisions that uphold your mission—even if it means saying no to short-term gains.
- Lead with humility, welcome feedback, and align your personal and professional selves.
By prioritizing purpose and integrity, you’ll not only build a more resilient and respected business, but you’ll also create a legacy that outlasts any quarterly profit report.
Catch more episodes of the Never In Reverse Podcast on YouTube, Amazon Music, and Spotify. Join the conversation and share your own experiences balancing profit and purpose in business.
