Business Beyond Profit Motivation (25 Best Ways & Tips)

Yes, business beyond profit motivation is definitely possible.

This article reveals a lot of ways and tips to help with business beyond any profit motivation.

 

Is Business Beyond Profit Motivation Possible?

Of course it is!

You see, there is a trend where the businesses of today are meeting with the not-for-profit world and creating a different dynamic.

The donors today who support the work of charitable organizations not only want to give their money, but they want to invest in the process and know how the money is being used by rolling up their sleeves and being involved.

This is the same elevated consciousness is spilling over into the corporate world as well as employees wanting to earn more than just a paycheck.

They want to belong to something larger than themselves and yes, earn a paycheck, but feel that their work is making a difference in the lives of those that they work with and those that they work for as well as the customer base.

The term or phraseology today is business beyond profit motivation.

Let us look at this dynamic and explore ways that can help a business and team members to pursue it.

 

25 Best Ways & Tips to Business Beyond Profit Motivation

 

1. Understand what Business Beyond Profit Motivation Entails

Business beyond profit motivation is the mindset of a business or corporate entity in which they realize that to exist requires profitability.

However, profits above everything else is not the business model that they wish to promote.

The business model of business beyond profit incorporates a vision and the taking of practical measures for a company to be an engaged and a participating member of a local, national, and global community in order to make a difference in the lives of people.

 

2. What Should be the Goal

The goal of this focus or mission is to enact change for the betterment of all involved and change that is on a permanent basis.

To simply, “throw money” at difficulty is like simply putting a bandage on a wound.

Or treating symptoms of the disease when in reality it is the disease itself that needs to be addressed.

For example, if taking up the cause or focus of homelessness, the focus, although good, needs to be more than just providing a roof over a person’s head and nutrition for their body.

The root cause of homelessness needs to be addressed.

Some of those root causes of homelessness could include

• Addictions
• Mental illness
• Unemployment
• Lack of training
• And so forth

 

Reasons Why Profit Alone is Not a Good Motivator

 

3. Know What Beyond Profit Motivation Is

Many companies have formulated a dynamic and well-sounding vision and mission statement.

Often, they miss the values of the company and what they want to achieve beyond being a successful business.

Unfortunately, these statements have only been another check in a box of lists of things to do.

Today there is a new movement within the corporate community to be more purposeful.

This means that the leadership and team members and focus of the company a difference not only in the lives of those within the company but a difference in the lives of that outside of the company structure.

Therefore, the intent or motivation or focus is to be moving the company beyond profit and making a difference in all aspects of its influence on the lives of others.

 

4. Why

The reason why companies are looking beyond profit as their motivating factor and conducting business is the reality that the landscape of employees and customers has dramatically shifted.

This shifting reflects a whole different dimension in not only the employees but the customers in that these individuals want to enact change in their world.

In essence, they are tired of the status quo and want to see real change and be part of that real change.

Therefore, a considerable motivation for a company as to why this shift in focus is to engage more with their employees as well as their customers and hopefully, in a genuine manner, embrace the same attitude.

 

5. Challenges

There are a variety of challenges associated with any change in direction especially as it relates to concepts, ideas, or new thinking involving money.

As a gradual shift occurs within a company moving from strictly concentrating on profit to moving beyond profit as a motivational force within the company there are those associated challenges.

Those challenges can include helping people to rethink the profit-making model of business.

Those individuals include:

• Business leaders
• Department heads
• Staffing
• Shareholders

 

6. Pushing Through

With any push for a change of direction within a company, it needs to obtain ownership.

The first aspect of obtaining ownership would be to gather together the key players in the company or business to unveil the idea of moving beyond profitability and obtain their input, and ideas, and develop a strategy together if this is a direction in which the company needs to move.

Once the leadership is comfortable with the direction being suggested, a plan of action needs to be incorporated as to how this unveils the program, not as a mandated program, but as an invitation.

The invitation should include department head leadership so they also may have input into the program and offer any concerns or suggestions as to the direction taking place.

With everyone’s involvement and taking ownership of the direction that has been identified, the plan then needs to be unveiled to all employees within the company.

Also, it is important to develop a marketing strategy of how this will be revealed to the community and customers that are also considered stakeholders within the company.

 

7. What Motivates

The reality for business in today’s social socially charged and dynamic climate is that businesses must have a reason or a purpose to be in operation beyond that of just making money.

Companies have traditionally sought to be more than a profit-making venture and have often endeavored to capture that vision for their company in a vision statement.

For example, the vision of Microsoft states

“To help people and businesses throughout the world realize their full potential.”

This particular vision statement of Microsoft reflects their commitment both on a professional and personal level and emphasizes their focus on helping people rather than creating a profit.

You may or may not feel that Microsoft wishes to help you realize your full potential but that is their goal and perhaps certain of their actions reflect that goal in the various actions that they involve themselves in with communities across the world.

The business community fully understands that the customer wants something more from a company than just purchasing a product or receiving a service.

The customer of today wants to see, not just hear, engagement from the company that improves the lives of others and the community in which they are involved.

This can be called corporate accountability or stewardship.

 

8. Benefits

A few specific reasons why business beyond profit motivation is powerful can include:

• The unifying factor in bringing the team together
• A solid foundation for the company that helps to formulate decisions
• Provides direction
• Customer engagement
• The loyalty of customers and staff
• The creation of a strong culture and persona within the business creates a quality working environment

 

9. Reasons Not to Only Embrace Profit

In not only establishing the benefits of moving a business beyond profit motivation it may be important to know why profit should not be the only motivational factor in the operation of the business.

Some of those reasons to not just use profit as your primary purpose can include:

• Profit is defined as a result and a reflection of success not the reason for that success
• Profit can be fleeting
• In difficult times profit can be hard to obtain
• Profit doesn’t typically motivate the average staff member
• Customers don’t want to be perceived as only a dollar sign

Consumers want to see a change in their world and the businesses that they interact with a partner with that attitude as well.

 

How

 

10. Core Values

A company’s core values can only be identified internally and can be accomplished through a process of discovery and being reflective of what leadership wishes the company to look like and do.

Core values are exactly that.

They are the core or the very center of why a business conducts business within their local town or globally.

Core values do not fluctuate but are part of the company’s DNA and as such are embedded and a very part of its fabric.

Examples of core values could include:

• Product excellence
• Imagination
• Quality customer service,
• Respecting each individual
• Working towards empowerment
• Embracing teamwork

 

 

11. Right Team

One of the key components in following through on a company’s vision is to have the right team in place.

This simply means that everyone needs to be engaged with the direction that the company, on whole, has chosen to take.

If an individual does not fully understand their role or the purpose of the company then perhaps, special attention or training needs to be provided to that individual.

Of course, leadership cannot, capriciously, remove an individual from their employment role, but it is important to work with that individual and demonstrate in a powerful way the reality of the vision that is in place that honors the individuality of the person as well as their role within the team.

 

12. Choosing a Challenge

When wishing to engage in the community and be part of the solution, the corporation or business should endeavor to assess the primary needs of the challenge that communities are facing.

Some of those challenges could include:

• Homelessness
• Substance abuse
• Battered women
• Domestic violence
• Runaway children
• Etc.

There is a cadre of social challenges that are faced by individuals, various cities, and countries around the world.

As a strategy, the company could choose a particular challenge and make that their focus for a length of time, possibly a year, a social challenge to enact change.

The possibility of determining what is an unmet challenge in a community is to meet with local agencies or perhaps a service that understands what each of these agencies is facing and their services in a community.

One such agency could be the United Way.

Or, the company can meet the challenge over the long haul and make that their complete focus.

The main thing is not to jump from “hot topic” to “hot topic.”

In other words, whatever is the focus by the media could be perceived by others as the company wanting to be involved with that challenge so as to gain publicity rather than making it part of your desire to interact with change based on your core values.

 

13. Vision

The business vision should be internally formulated with as many involved in the process as possible.

Perhaps, a good working strategy would be to have representation from all departments and leaders within the company.

A vision should stand on two foundations.

Those two foundations include purpose and values.

The business goals, corporate conscience, and actions should be aligned once this true vision has been established for the company.

 

14. Lead By Example

When embracing a business ideology that goes beyond the company making a profit as a motivation, it is important for leadership to lead by example.

Nothing is more powerful and inspiring than having department heads and the top leadership of a company actually rolling up their sleeves and being involved with the vision that has been embraced by the company.

For example, if the corporation wants to be involved in a homelessness challenge faced by many communities around the world, it would be important for the leaders not only to voice their support of the company’s various initiatives but actually be on the serving lines of soup kitchens, being involved in a homeless shelter, talking to homeless individuals about the challenges they face is they face, etc.

 

15. Training

An important component to permeate the company as to what their vision is and how that vision will be carried out or implemented is training.

This will take an investment on the part of the company to gather together employees and share the vision that the company has determined is the direction for the business.

As part of the training, it would be important for the employees to understand how that vision was realized and that everyone had input either through actual participation or through representation.

This training can be done in a variety of ways such as through emails, teleconferencing methods, actual staff meetings, etc.

Incentives can be offered with perhaps individuals being recognized for going the distance or out of their way to promote the vision practically but this should not be a motivating force for the employees.

 

16. Team Building

Team building can be likened to the sport of crew.

In this sport everyone, as much as possible is in sync and rowing together to maximize the full effort in the competition or training.

In addition, there is a leader in the boat known as the coxswain.

The responsibility of this individual is to ensure that the orders are in sync and let the crew know what is ahead of them, who is behind, and by distance.

Similarly, team building, as it relates to business beyond profit motivation, needs all team members on board and in sync with the vision and mission of the company and leadership reminding and sharing with the team about the purpose of the company.

Also See: Best Money Earning Business Ideas for Friends.

 

17. Be Authentic

A statement of purpose for a company is more than just words on a paper that have been wonderfully crafted by an individual or group of people through a strategizing meeting.

The statement of purpose is a reflection of what can be imagined and accomplished when a team representing a company put their resources together to bring power and action to that statement.

The statement of purpose is genuine and should be practiced by the company consistently to make a difference in the lives of the company workers as well as their customer base beyond the corporate boardroom and walls.

 

18. Reinvent the Wheel?

When a company decides to go beyond the motivation of profit it may not be necessary to reinvent a strategy or plan of action.

The wheel has already been moving for a significant number of years.

Therefore, rather than reinventing the wheel, reach out to other successful corporations who have established this commitment and build on what they have accomplished.

You can make their strategy your own but for the most part, the structure, and plan of action is in place.

Also, you can reach out to these other companies and be inspired by what they have accomplished through their commitment.

 

19. Collaborate

Sometimes, the challenge in a community or geographical area is greater than one company having the total resources needed to enact permanent change.

Therefore, why not collaborate with other like-minded companies and form a strike force, of sorts, to combine resources and significantly meet the challenges being addressed.

 

20. Consultant

As a further indicator of a corporation’s commitment to invest in its vision and be part of the local and global community, the company can hire a consultant.

A consultant can be invited in and provide guidance, helped formulate the strategies, and assist with the entire process of working with a company and its stakeholders in identifying a way to have their focus go beyond a profit motivation.

 

Tips

 

21. Loan Executive

Many United ways during their fundraising campaign in the fall, fully utilize a resource from involved companies through the loan executive program.

The program identifies an individual within a company by the company itself and is given on a loan basis to the United Way to provide leadership as it relates to a certain segment of the community and raises funds.

This same process can also become accomplished by instituting a loan executive program for other entities within the community which would include not-for-profits.

These not-for-profits have their pulse on the needs of the community but often have limited resources and therefore do not have the capability to enact their plans fully.

As part of the strategy of going beyond profit motivation, an executive from the company can be loaned out to the not-for-profit as a resource to meet those challenges along with a resource commitment from the company to make a difference.

 

22. Volunteer for Charity

To demonstrate the company’s commitment to go beyond profit they can set up a volunteer schedule for charities in their community.

The company can rotate its personnel through a number of charities and be involved in a practical way by rolling up their sleeves and working side by side in the service of others.

For example, if a company is a home improvement company they can provide the needed resources for a new playground at the daycare and also commit to a day of working at the daycare and constructing that playground.

 

23. Raise Money

Of course, a needed resource for change to be enacted is the use of money.

Money supports the services of others who are in the trenches and provides the resources that are needed to be purchased.

The easiest way to provide money to those who are in need and provide the services to others is to simply write a check.

However, the money becomes more meaningful for all involved when there is an effort to raise that money through the giving of one’s time, engaging in imaginative ideas, incorporating others in the process, etc.

Therefore, a good strategy is choosing to bring money in support of the various causes, it may be an idea to involve all concerned to be a part of the effort in making the donation.

Also, another idea is to match monetary contributions.

This can be accomplished by the agency raising money from its supporters and then a corporation and its accompanying team members will match that donation up to a certain level.

This strategy certainly engages all individuals to be part of the solution in raising needed money.

 

24. Invest in Community

Investing in a community through corporate activity is exactly that, it is an investment.

An investment is defined as providing the necessary resources, training, and other activities to encourage growth and obtain a return on that investment.

As it relates to corporate investment in the community is not just about giving money but is about providing training, seminars, workshops, etc. to identified individuals within the community to help their business processes so that the community or entity community is empowered and strengthened. and established.

 

25. Customers

As a company one of the critical segments of the team are the customers.

Customers not only want to purchase products that are useful for them, but they also are encouraged when they purchase that product and their involvement in that purchase brings added benefits not only to them but to those around them.

For example, there are shoe companies where when you purchase a pair of shoes a donation is made with a similar pair of shoes to those who are needy, perhaps, in a distant land.

The purchase of a company’s product by a customer takes on a whole new dimension of meaning when that purchase helps others as well.

Therefore, it is important in your strategy to engage your customers and allow them to be part of the commitment to change.

This can be accomplished by donating a similar item purchased, a percentage of the monetary donation made to the cause excepted and supported by the company, etc.

 

Personal Story

I used to be a customer of a cable company.

The sad reality is, and this may be an exaggeration, that every time I received a bill it seemed like it kept increasing in cost.

I would call every so often and ask for an explanation as to why my bill kept on increasing.

The customer service rep was friendly enough and would pull up my bill and try to provide an explanation and then said that the bill could be lowered if I cut back on the plan and did away with some of the channels.

In my way of thinking this was not a good option as I would be paying less but also receiving less service.

Finally, I called and canceled my subscription to the cable service.

When asked why I was canceling I told them right that the cost of the service kept increasing and I didn’t see any added value to the added expense being charged to me.

Ironically, I now get phone calls from the representatives of this company asking if I would like to come back and they would offer me a great deal if I returned.

Of course, I said no thank you, and when asked why I said that the service was too expensive.

All that to say is I would never hear from this cable service unless I reached out to them when asking them why my bill was increasing.

Now that I am no longer a subscriber they call to ask if I was satisfied with the service and would I like to return.

Too late!

 

FAQs

 

What Are Some Examples of Companies Going Beyond Profit Motivation?

Some of those companies include:

• PepsiCo
• Marriott
• AT&T
• Synchrony
• Ecolab

This is according to https://www.forbes.com/just-companies/#5b0f7c112bf0.

 

Does a Company That Embraces Beyond a Profit Motivation Lose Money?

According to https://www.ft.com/content/b22933e0-b618-11e5-b147-e5e5bba42e51 the opposite seems to be true as profits increase.

 

You Can Do It

You are extremely conscious of your inter-connectivity with your world and the people that share this planet with you.

You want to belong to something larger than yourself and not only make a difference but be a difference.

Additionally, your work and place of employment are not outside of that circle.

You want the company that you are a part of to be profitable, but you also don’t want that to be the driving force.

The good news is that you can be part of that transformation and enact change.

 

Conclusion

There is a shift in the corporate focus.

Certainly, profits are important but there seems to be an overriding direction being taken that is more on purpose rather than profit.

This directional change is more outward than inward.

Gandhi said, “Be the change you wish to see in the world.”

The businesses of today and their employees seem to be embracing that challenge and are moving beyond business as usual to business that is transformational.