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People Over Profit Summary – March 2022

Author: Dale Partridge

Short Summary
People Over Profit (2015) by Dale Partridge summarises what we’ve learned so far, and introduces you to the core principles of building an ethical business. We’re living in a time of unprecedented economic inequality. Technology is replacing jobs faster than ever, new companies are turning data into money, and the leaders of tomorrow will be those who can use these technologies to build companies that create shared value.
people over profit
Source: amazon.com

Detailed Summary

If you’re like me, you have several companies that you hate. Is it because they make the world a more unpleasant place? Or are they just really bad at what they do? Probably both, but that’s okay. Hate is a natural emotion, and we shouldn’t be made to feel bad for hating on certain companies. A common sentiment I hear from people I talk to who hate large companies is: “Well if you don’t like it, why don’t you make something better?” It. Easy for them to say, but can one man create something better than Facebook or Twitter? No, probably not. But what if there were only 20 or even 5 users? It would be much easier, right?

3 key points make the companies honest and how can you help them to grow more and more. Those key points are following.

People Over Profit Key Points

All companies start with honesty

So, all the companies start honestly. Nobody can afford to build a dishonest business from the ground up, because if you do that, nobody will come to your store. And nobody will buy your product. But what happens as a company grows and gets bigger? How do you maintain your clarity of purpose and honesty about who you are when you’re managing hundreds or thousands of employees? Dale says two things keep a company honest. The first is their values. Their core beliefs about how they want to do business. They can be written down. They can’t be too big or too small. If a values statement is too big, it’s not useful because it doesn’t point you in any particular direction. It might as well say, “We value kindness,” which is true but not helpful.

This is because (1) they are too small and don’t have the resources to do it, and (2) they are still testing their market to see whether there is a sustainable business there. All companies startup honest.

It’s a fool game to try to avoid transparency in business

It’s a fool’s game to try to avoid transparency. I wouldn’t be surprised if Instagram, Facebook, or even Netflix, at times, tried to avoid transparency. You can go online and find out what any of their metrics are. That’s a great feature about being an entrepreneur. You can be transparent about everything. Transparency is so important because it’s the only way you can build trust and you can build that foundation because the only way you’re going to trust us is if we’re vocal about our failures.

In the same way, transparency is one of the seven values that can help your business stay honest and fair in times when things tend to get more and more complicated. I know from personal experience that it’s hard to treat this topic in a broader sense at first, but once you start thinking about it, you will quickly realize how much transparency affects your day-to-day business. If you want to move towards an equal society (and maybe you shouldn’t if you have something to hide) transparency becomes an essential factor. That is why it is a very bad idea for business leaders to deny the use of transparency. It’s not a fool’s game, it’s a game of heroes.

Become a better customer because half of the power is in your hands

Businesses aren’t forcing us to buy anything. We are the ones at the end of the day making that choice. But we’re all driven by the dollar. Which means we have the responsibility to make better decisions. Just suppose, Any book reading website offers a more honest way to rate books. They eliminate the need to mark a book as a “five-star read.” Why? Because 5 stars is just not an accurate measure of a book. And three stars don’t tell the full story either. So instead of asking you to pick five stars or one star, they allow you to mark a book with any number of stars in between the ratings. “Rating books on a 1-5 scale is like saying ‘this song is very good.’ But there is so much more that can be said about it.”

So let’s begin with the small stuff. We’d like to ask you to start reading tiny bits about those things you buy. It doesn’t have to be much – the more you read about a product, the more inclined you are to buy that product. We are not saying that reading more about shoes necessarily means you will send them money, but we are saying that by reading more about a product and understanding more about it, you will feel more comfortable spending money on it.

If you want sustainable products, demand for a durable product then. If you don’t like something about the product, tell the company. Imagine, all the money you spend during a year goes to the honest companies, they would not have to try the tricky techniques. The power is in your hands. You can use it well for betterment.

People over profit quotes

“Every day you have a choice, to be honest, or deceptive. If you commit to telling the truth, you will win. You’ll win more trust, you’ll win more business, and you’ll win more peace of mind. You’ll break the system and be even more successful.” Dale Partridge

“But vulnerability without accessibility is counterproductive —- VULNERABILITY + ACCESSIBILITY = TRANSPARENCY” Dale Partridge

People over profit review

Mostly the business books focus on telling the tactics and schemes of the business or growing the business, some of the books focus on giving the strategies and techniques of the business but just a few books address the philosophy. People over profit is few of them. There is a saying in German, “It’s the head where the fish reeks.” If you facilitate your starting customers after starting your company with honesty then your company will automatically grow vastly. This is one of the philosophies, Dale Partridge explained in this book. This is one of the best books I’ve ever read for business and I would also suggest you pick up People over profit.

To whom I would recommend People over profit summary?

  • A business advisor who can teach honestly to businessmen.
  • A CEO of the company realizes that he can still go back to the company and lead them the right path.
  • Anyone wants to have better products but still buys on basis of prices.

Link: https://amzn.to/3oHcE8I