Profit Wise

Profit Wise
Title: Profit Wise
Author: Jeff Morrill
Date Reviewed: 25th June 2021
8 out of 10
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It was suggested I might enjoy this book because of my review of Profit First (which I love). I approached it cautiously because the author’s background in car sales, real estate, telecommunications and insurance doesn’t … um … resonate with me, if you know what I mean. However, I was attracted to the idea of running your business while staying true to your values. So, putting aside any prejudging that I might be guilty of, I dived in.

And, you know what, I’m glad I did. Profit Wise is all about making money while doing the right thing. That’s interesting to me because I’ve always had a mental block regarding the desire to make money. Like you’re evil if you want to make a good living. This is something that I have to actively work on – the mindset that wanting to make money can go hand in hand with doing good things.

Once I’d got past the introduction I really started to warm to it in the first chapter. I found the intro a bit too “I’ve done this and made this much money” (I told you I had a problem with the idea of making money … and I defo wouldn’t want to brag about it) and seemed to promise too much for such a short book. In the first chapter the author gives examples of things he did in his first business, which really don’t fit the money grabbing image that I have of car sales:

  • hiring people that other dealerships rejected – a woman and a gay man for example
  • installing solar panels on their showroom roof
  • donating a vehicle to their local river protection organisation

Now, that definitely grabs my interest!

The more I read the more I liked the author. I’m so glad I didn’t get put off by the whole car sales stereotype. Some who says “we have a moral obligation to run our businesses in a way that minimizes negative externalities and increases benefits to society” is my kind of guy!

I tend to think that my personal values are a separate issue to my business. Though saying that, we have said no to potential clients that very much were against our personal beliefs. This book is making me think about going even further and promoting what we believe to attract like-minded clients. That could be a real win-win.

So, as you can see I ended up really enjoying the book. It takes you through different aspects of running a business and how you can do things right – right by the business, right by your employees, right by your customers, and right by society and the planet! Give it a go, it’s an interesting read.

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