The Purpose Is Profit: The Truth about Starting and Building Your Own Business by Ed ''Skip'' McLaughlin, Wyn Lydecker

When it comes to starting and building a business, the advice of author Ed “Skip” McLaughlin in his book, The Purpose Is Profit: The Truth About Starting and Building Your Own Business, is invaluable. The experienced entrepreneur has created several successful companies in the past and offers his expertise to budding entrepreneurs looking to get their business off the ground. In his no-nonsense approach to business, McLaughlin dispels some long-held myths about entrepreneurship and emphasizes the importance of purpose in business.

McLaughlin begins by setting the stage for what keeps businesses from becoming successful. He believes that many business owners have succumbed to the old way of thinking that says you should start a business to make money. In reality, money shouldn’t be the primary motivation, as success in business goes beyond it. Instead, companies should consider what solutions they can offer, who their customer base is, and what kind of value they can create, all of which require having a clear purpose.

McLaughlin then goes on to discuss the steps needed to become a successful entrepreneur. He examines topics like setting a mission, outlining the key area of focus, and creating a business plan that details the day-to-day processes and systems needed to make a business run smoothly. Many of his suggestions focus on the idea that efficiency is key, and that entrepreneurs should maximize the use of their resources. He also emphasizes the importance of understanding the competitive markets and keeping track of customer needs and trends.

McLaughlin spends a good chunk of the book outlining various strategies for running and growing a business. For example, he talks about how to implement strategies such as branding, hiring, setting customer service policies, and building a network of contacts. He also touches on topics such as digital marketing and how to use technology to increase efficiency.

The book isn’t all theory, though. McLaughlin provides real-life examples of successful and failed businesses in order to shed light on the nuances of business. He also takes the time to explain different financial concepts, ranging from budgeting to venture capital, in an easy-to-understand way.

In the final chapters of the book, McLaughlin leaves readers with an inspiring message of perseverance and hard work. He talks about some of the successes he has had in business, as well as some of the mistakes and lessons he has learned along the way. Ultimately, he stresses that the purpose of business should be to create value for others, and that true success is found in the passion of entrepreneurs to improve the lives of their customers and the communities in which they work.

Overall, The Purpose Is Profit: The Truth About Starting and Building Your Own Business is an essential read for anyone looking to become a successful entrepreneur. With a focus on having a clear purpose and purpose-driven strategies, Ed “Skip” McLaughlin offers a comprehensive approach to getting a business off the ground and cultivating sustainable growth. It is a must-read for entrepreneurs of all levels.