Many believe that the one true purpose of a business is to produce profits for its shareholders. On our podcast Rethreaded Lives, we recently sat down with Tom Rossi, founder of Buzzsprout to challenge this view.
We believe businesses can aspire to more. We believe that a business can find its true purpose in the people and communities they serve.
Tom had his worldview rocked after reading Servant Leadership by Robert Greenleaf. In it, Greenleaf argues that businesses have a responsibility to consider all stakeholders, not just those who own stock.
“Profit is important, but it’s not the most important thing,” Rossi says. Corporations exist for the benefit of communities and people. That’s why Buzzsprout ties every decision back to its core values of empowering its employees and customers so they can grow.
Likewise, Rethreaded operates according to a “whole life” philosophy. Along with job skills, they work hard to build a healing community that helps employees develop their unique purpose.
While profits keep the lights on, they should not be the end-all goal. Rossi feels, and we at Rethreaded agree, that companies working only for shareholders miss the point. They miss out on the opportunity to achieve something greater than large profit numbers.
The true purpose of business is to empower communities, enrich lives, and lift people up.
To hear more of Rossi’s thoughts, and to see how Rethreaded works hard to live this principle each day, check out the full podcast!