When Profitability takes Priority over Customer Satisfaction

Everyone understands that in order to run a successful business, you have to be able to make a profit. However, when profitability takes priority over the customer that you serve, you run into major problems. The purpose of a business is not to make money. Yes, that is an important piece of business, but the purpose of a business is to solve problems and serve customers. The money is a byproduct of the thing that you fulfill. 

If your focus is just on making money, you won’t build a sustainable business. You might profit for a little while, and things will seem good at first, but businesses that are successful long-term understand that happy customers are integral to longevity and sustainability. Your focus should be on delivering the best possible product or service to the people who need it. Not everyone is going to be your ideal customer, but once you figure out who your customers are, you should work to retain them as long as possible.

There have been many instances where successful businesses have decided that they wanted more money, whether that pressure was coming from investors, board members, shareholders, or management, and they lose sight of the very thing that made them successful to begin with. If you let go of the parts of your business that people have come to love, then you are essentially letting go of the customer you have worked so hard to attract. You’re telling your customers that their satisfaction is not as important as the extra bills in your wallet. Again, this might work out for you for a little while, and you’ll think you made the right decision. However, what you gain up front, you will lose long-term.

You have to decide why you’re in business. Are you in business to serve customers and solve problems? Or are you in business to get rich? The people who are just trying to get rich will always be chasing the dollar, and they’ll never be satisfied. They often take unnecessary risks, put themselves first, and sometimes even cut corners. Don’t be the person who loses their business because they were chasing money. Instead, chase a purpose, and give it everything you have. As Thomas Edison once said, “The secret of success is focus of purpose.”

-Meghan Slaughter