Principles, People, Product, Profit

What do you value most in your business, or in the company you work for?

My priorities are clear:

1) Principles
2) People
3) Product
4) Profit

In that order… every time.

1. Principles

These are the foundation. Principles can be hard to define, but once you have them, they can serve as guard rails for future decisions. Here are the principles I’ve defined for Howdy (My little side project):

• Intentionally Tiny
• Embrace constraints
• Reduce complexity
• Stay focused
• Stay independent
• Forever frugal
• Remarkably original
• Minimal feature-set
• Simple tech
• Gut driven data informed
• Give way more than you get
• Default free
• Promotes itself

2. People

A close second after principles is people. This can be customers, employees, freelancers, partners. Basically anyone you associate with.

3. Product

Third comes your products and services. This is the value you bring to the world. It’s your unique way of solving problems and making other peoples lives a little bit better each day.

4. Profit

Profits come last. Not because profit is least important, it’s clearly important, but in a well run company profits come as the direct result of nailing your first 3 priorities.

Hold strong to your priorities

It can be tempting at times to make exceptions, especially when things get tough. But changing your priorities tends to be one-way street. Once you’ve given yourself permission to value profit over product, people, or principles it’s a very slippery slope. It’s very hard to come back from.

Can you run a successful profit first business? I guess that depends on your definition of “success”. It’s certainly possible, but it’s certain to come at a cost.