Insights | 2 MIN READ

What is the Definition of Success in Business?

The following is an excerpt from Buy1GIVE1 Founder Masami Sato’s latest book, Giving Business. It’s available for sale on Amazon.

We live in a profit-driven economy.

When a business becomes solely focused on the maximization of profits, there are mainly two things it can do – Increase revenue, or reduce expenses.

To maximize revenue, businesses can become smarter in their communication. Clever advertising can be used to induce people’s desire to have things they don’t need. Some businesses make bigger promises than what they can deliver.

Making more sales quickly meant more profit. And more profit meant success

To minimize expenses, businesses can seek more ways to further reduce their costs. These include ‘paying less to people desperate to get jobs even in inhumane working conditions’. Or ‘’dumping toxic waste into the ground of waterways because it is cheaper to do so than to treat it properly’. These decisions are made often without the knowledge of potential consequences. But sometimes they are made knowingly too.

Because reducing cost today meant more profit. And more profit meant success.

Is success only defined by profits? Does profit really make you feel the “win” of success?

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About Masami Sato

Masami is the founder and CEO of B1G1. Despite being small, she is the guiding light behind almost every project in B1G1, from IT design to project management to guiding the culture! She is also one of the most humble and inspiring people you’ll ever meet.