In Australia today – 30 June – it is the last day of our financial year. The day when financial books are “closed”. A line in the sand. The day when individuals and organisations are obliged to share information with the federal government about their financial story for the previous year.

Henry Ford said “Business must be run at a profit, else it will die. But when anyone tries to run a business solely for profit, then also the business must die, for it no longer has a reason for existence.”

He also said “A business that makes nothing but money is a poor business.”

I am very passionate that a business must be run profitably but mindful that that profit doesn’t come at the expense of everything else. We are people first: an individual before being a business owner or team leader or employee. We need balance. We need to look after our mental health as well as our physical health.

PEPP®

In my world, balance comes by living with PEPP® which is my word for vitality.

PEPP® is an acronym for:

  • Purpose
  • Energy
  • Pleasure
  • Profit

So, profit is there but I believe it can only be sustained if the other elements are considered and everything is in balance. The right balance for YOU. Which may not be the same balance as your life partner, if you have one, or anyone else in your world.

If you are out of balance and you don’t know it yet so haven’t taken corrective action something will happen in your world to wave the “do something” flag. For example, I remember a time about 20 years ago when I tripped and broke my foot on my home front doorstep a few days before the festive break. In the moment that I landed on the ground, the very first thought that came into my mind was “Ahhh, thank goodness I can stop now!” I think my body was crying out for a rest!

Or perhaps you do know you need to change something but are not sure which direction to take. Sometimes if we are feeling overwhelmed, exhausted and/or confused we know we need others to help us but are afraid to ask.

On several occasions in my business coaching career I’ve suggested people seek other professional help such as visit their doctor before I’m able to support them with business challenges. One person even thanked me later for saving his life as he was thinking of ending it himself because it was just all too hard.

Balance is key

Profit is very different to turnover and cash flow. A business could have a multi-million dollar turnover and still not return a profit. Actually knowing this is fundamental. Balance between all these financial elements is so important, as well as balance with everything else in your life.

A busy business owner mum recently said of my approach “I like your focus on energy and pleasure. So many times I’ve heard pitches [from other business coaches] and it’s been all about the profit, like some sort of race as to who can build a business the fastest.

Personally I see the energy and pleasure as an acknowledgement of the need for balance and sustainability, and that is a refreshing change.”

Balance in all things is key, especially to look after your mental health.

Sometimes profit is another currency

Not everyone and every organisation is driven by money. Sometimes people have enough that they can focus on other aspects of their life. Recently in one of my PEPP® Express programs, someone said her profit goal was to be happy.

In large organisations or government departments, for example, where access to the bottom line profit figure is inappropriate most of the time, they have other measures of success such as time to perform a particular task or the number of compliments (as opposed to complaints) a team receives.

So what currency are you using for profit in your business or your life? Is it dollars or something else… I’m interested to know!

And, if I can help you create more dollars or balance or vitality/PEPP® then I’d love to do that – please reach out.