The Sam Ovens Podcast

45. Why Does Your Business Exist? (Other Than Making Money)

Sep 20, 2018

Why does your business exist other than making money? Most entrepreneurs don't have an answer to this question. Money is a byproduct of value, not value itself. Shifting from making money to striving for excellence leads to long-term success. Material possessions led to emptiness and confusion. Creating the best product and having a purpose beyond money is crucial.

20:52

Creator website

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Prioritizing value over money is key to business success and financial returns.

Focusing solely on making money can lead to a lack of motivation, failure, and missed opportunities for competition to thrive.

Deep dives

The importance of having a purpose beyond making money

Many entrepreneurs realize that their businesses lack a purpose beyond making money, which can be detrimental to their motivation and success. Business is about providing value to customers by solving their problems or helping them achieve their desired outcomes. By focusing solely on making money, entrepreneurs miss the bigger picture of adding value, which is the real driver of financial success

Introduction

2min

Adding Value: The Key to Business Success

8min

The Journey from Making Money to Striving for Excellence

2min

The Challenge of Finding Purpose and Direction in Business

2min

Creating the Best Product and Finding Purpose in Business

6min

Why does your business exist other than for the purpose of making money? This is the MOST important question you can ask! And what's scary is that most entrepreneurs don't have an answer to this question. The only reason their business exists is to make money for themselves. What's wrong with this? Legally there's nothing wrong with this at all and people can do whatever they want! The problem is that these people will fail at making money and wonder "WHY?". Money is a byproduct of value when you create value you make money. And money isn't value. So you can't create money by trying to make money, it just doesn't work that way! Companies who aim to solve problems and improve people's lives create value, the byproduct of this is money. Lots of money. If you want to be motivated, have fun, help people and make a lot of money while doing so -- this video is for you!

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.

The Sam Ovens Podcast

45. Why Does Your Business Exist? (Other Than Making Money)

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

The importance of having a purpose beyond making money

The case of Boeing: The consequences of prioritizing money over value

Shifting perspective to add value and achieve financial success

Remember Everything You Learn from Podcasts