Drawing parallels from his observations and experiences, Jeff Morrill in his latest book; Profit Wise, makes an effort to explain to the readers how morals play an important role in the functioning of any business/ industry. The simple key points that we all learnt right from our childhood on soft skills and personality development take a huge turn while choosing a career in entrepreneurship.
As we all might be aware, the end-goal of any industry is to provide effective and efficient service to its customer base. This book, however, takes this goal to a further new level by suggesting ways not only to fulfil the satisfaction of customers but all the stakeholders that have an interest in the business, namely directors, employees, society, suppliers and the government. This book is based on structuring and building strong and compassionate relationships for the long term profitability and growth of the business.
A few of the unique perspectives that ‘Profit Wise’ brings, is how the author himself felt a direct relationship of profitability with a sense of ownership that an individual acquires at birth and its further impact on one’s community. He emphasizes the necessity to include people that are excluded from the business environment and integrate them into the network so that society at large can experience holistic development.
As the Chapters flow, Author keeps unveiling the layers of a business mindset. He candidly talks about how in today’s overcommunicated society, one of the major ways to ensure that customers remain loyal to one’s brand is to ensure that they understand and stand with its business values.
He then proceeds to give interesting insights about the most effective approach towards hiring and acquiring the right people at the right time. The author goes out of the traditional way by suggesting entrepreneurs hire people who don’t have much work experience in a particular field of work. Why? Because moral behaviours and values should have higher priority status when it comes to deepening the talent pool and this includes a selection of people based on good character, aptitude, intelligence, skills, capability and potential.
Further interesting insights that acquaint the readers with the new process of thinking is balancing the red flags of ineffective employees with their required analysis. Having said that, this book does not cover a dedicated chapter to sales but an integrated lesson on sales and customer service. The explanation that the author gives for such a doing is that – The style of sales is unique to different industries. The reason that he combined the importance of sales with that of customer service is that it acts as a guideline for every business person to follow through so that the ultimate goal of customer satisfaction is achieved.
Finally, the author concludes the book by emphasizing the motto; “the institutions should have love in the model”. This suggests that the decision-makers of a company should be such that, they make the decisions and apply the principles with compassion and empathy for others. These people think about the long term impact that their ideology might have on the global market and the various classes of stakeholders all over the world.
‘Profit Wise’ is a must-read for anyone who wishes to put his/her ideas out there in the marketplace and ensure long-term monetary and non-monetary returns on its structural investment. This book is available on Amazon – paperback and kindle. The author also went out of the way and provided 3 Bonus chapters on his website www.jeffmorrill.com to provide useful insights into a successful business mindset.
Written by: Nandini Rao
Image Credits: Industry Today