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The Purpose Is Profit: The Truth about Starting and Building Your Own Business, by Ed "Skip" McLaughlin Wyn Lydecker
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Review
'''The Purpose Is Profit provides the roadmap and motivation needed to win the startup game. It is required reading for every entrepreneur committed to building a profitable business.''-- Barbara Corcoran, Shark Tank Investor and Founder, The Corcoran Group''There are no shortcuts. Startup success requires a solid business model, disciplined execution, and a profound commitment. 'The Purpose Is Profit' provides blueprints and tools entrepreneurs need to start and scale a business.''-- Joel Peterson, Chairman, jetBlue Airways & Consulting Professor, Stanford Business School''Unlike so many books on entrepreneurship, 'The Purpose Is Profit' gets at the nub of what it takes to build a successful business. Ed talks the talk, and walks the walk, about the importance of factoring profit into every business decision.''-- Larry King, Worldwide Television and Radio Host'''The Purpose Is Profit' provides the formula for scaling a business from startup to Inc. 500 - and takes you into the board room for the sale to a Fortune 100. The book shares the inside story and the hard lessons every entrepreneur needs to know, covering both failure and success.''-- Bill Teuber, Vice Chairman, EMC Corporation''Ed's book isn't just about profit - it's about following your inner voice and your destiny. It's about succeeding through integrity and giving back. It will put you on the path to responsible prosperity.''-- Rohan Marley, Chairman, Marley Coffee''This is an excellent book. 'The Purpose Is Profit' powerfully describes the principles profitable businesses must follow and how failure to adhere to every one of those principles takes a business owner over that fine line into unprofitability. The book is exceptionally practical and candid, since, alongside his success story, one of the authors freely describes what caused his other start-up business to fail.''-- Michael Critelli, Entrepreneur and former Chairman & CEO, Pitney Bowes'''The Purpose Is Profit' will resonate with anyone who wants to start their own business. Each chapter puts you inside the startup machine - challenging you to turn the levers and gears to your own advantage. Anyone who wants to mitigate the startup risk should read this book.''-- Don Froude, former President, The Personal Advisors Group of Ameriprise Financial'''The Purpose Is Profit' is both entertaining and educational. It is like getting an MBA in entrepreneurship in 300 pages. This is a must-read book for any aspiring entrepreneur.''-- Maggie Wilderotter, Chairman & CEO, The Grand Reserve Inn''Ed McLaughlin's book, 'The Purpose Is Profit,' is a powerful guide for entrepreneurs at any stage. It combines the inside story with the tools you need to build a profitable business. I'll be encouraging everyone with a startup dream to read this book.''-- John ''Randy'' MacDonald, former COO & CFO of TD Ameritrade''I run an entrepreneurially driven group within a large organization and have asked our team to read the book and share five key takeaways they will use to transform our business. I am betting on a 5% increase in year-over-year growth across my team from implementing the advice in 'The Purpose is Profit'''-- Pamela Newman, President & CEO, The Newman Group, Aon Risk Solutions''As the first customer to introduce corporate real estate outsourcing while I was at Baxter Healthcare, it was obvious Ed and I were creating something new and disruptive. We were constantly learning and adapting to make this breakthrough idea work. 'The Purpose Is Profit' captures the energy, the work ethic, and the persistence every entrepreneur needs to create and build a successful new venture.'' --Bill Agnello, former SVP & Executive Officer, Workplace Resources at Sun Microsystems'''The Purpose Is Profit' is a very accessible account of what it takes to be a successful entrepreneur, and - importantly - what it takes to fail successfully. Learning from the personal accounts in this book, an aspiring entrepreneur can well understand the nature of the journey (s)he is embarked upon. I highly recommend it.''-- Polly Black, Professor of Practice, Business and Entrepreneurship, Wake Forest University ''If experience is the best teacher, then 'The Purpose is Profit' is your best bet to learn from Ed McLaughlin, who has been there and done that, how to start and build a successful company from the ground up.''-- Henry DePhillips, MD, FAAFP, Chief Medical Officer, Teladoc, Inc.''Building a business is one of the most rewarding, yet challenging experiences of a lifetime. If you are planning to start a business, why not mitigate your risk by reading 'The Purpose Is Profit?' No one can promise instant success, but following the proven roadmap in this book will substantially increase your probability of startup success.''-- Bill Scheller, President & CEO, BlackHawk Industrial'''The Purpose Is Profit' takes the contrarian view on growth at any cost. Through a well-written and engaging narrative it highlights the advantages of focusing on the fundamental but sometimes forgotten business principles of customer service, team building, sales and profitable growth vs. pursuing exponential growth at the risk of losing control. These are worthy considerations for every entrepreneur, particularly in the face of a changing investment environment.'' --Vincent Ponzo, Senior Director, Eugene Lang Entrepreneurship Center, Columbia Business School
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About the Author
Ed ''Skip'' McLaughlin Ed is the founder of four businesses and is currently running his fourth company, Blue Sunsets LLC, investing in startups and real estate. He bootstrapped USI Companies and grew it into an Inc. 500 company. In 2005, he sold USI to Johnson Controls, a Fortune 100 company, and at that point, became CEO of JCI's Global Workplace Business for the Americas. Ed was honored as Entrepreneur of the Year by Ernst and Young and has a BA in history from the College of the Holy Cross and serves on their Board of Trustees. Active in philanthropy, Ed lives with his wife in Connecticut and has three adult children. Email: Ed@ThePurposeIsProfit.com LinkedIn: LinkedIn.com/in/EdSkipMcLaughlin Twitter: @purposeisprofit Wyn Lydecker Wyn is the founder of Upstart Business Planning. She works with entrepreneurs to develop plans that answer the questions investors ask most often. Wyn has been published inThe New York Times and other publications. She has an MBA in finance and marketing from the Wharton School of the University of Pennsylvania and a BA in economics from the University of California at Santa Barbara. She lives in Connecticut with her husband and has two adult children. Email: Wyn@ThePurposeIsProfit.com LinkedIn: LinkedIn.com/in/WynLydecker Paul McLaughlin Paul is an associate with Deloitte in the Financial Advisory Services Group in the Real Estate Consulting Practice. Previously, Paul served as vice president of Blue Sunsets LLC, where he was responsible for real estate development and specific angel investments. He has a BA in mathematics from the College of the Holy Cross and an MBA from Georgetown's McDonough School of Business. Email: Paul@ThePurposeIsProfit.com LinkedIn: LinkedIn.com/in/PaulPMcLaughlin
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Product details
Paperback: 328 pages
Publisher: Blue Sunsets Books (July 15, 2016)
Language: English
ISBN-10: 0986304344
ISBN-13: 978-0986304347
Product Dimensions:
5.5 x 0.8 x 8.5 inches
Shipping Weight: 14.4 ounces (View shipping rates and policies)
Average Customer Review:
4.8 out of 5 stars
67 customer reviews
Amazon Best Sellers Rank:
#29,793 in Books (See Top 100 in Books)
Just finished reading "The Purpose is Profit" in one sitting. Ed successfully combines nuts & bolts, nitty-gritty details about the inner workings of a large, very successful start-up with practical, actionable advice for business new-comers. This works so well because he weaves in the story of his own venture from pre-launch to exit. This narrative component kept my attention and focus to the very end. I was also struck by the importance that he places on relationships and integrity - that one need not eschew moral convictions to succeed (quite the opposite).The "Startup Roadmap" and "Startup Funding Guide" alone are worth the purchase of this book. These appendices provide pragmatic, thoughtful, and, most of all, implementable steps to take on one's entrepreneurial journey.Altogether, this readable and easily digestible book will inspire you to either continue to fight for your own financial independence, armed with useful and powerful new weapons or to finally give into the "pull" that entrepreneurship has had on you and start your own venture. As he says in the book: "Do it! Do it! Do it!"
Clunky writing to disguise weak premise. Working in real estate does not equal entrepreneurship. Book is not a roadmap, or even motivation, to starting and building a successful business.
The Purpose Is Profit is both inspiring and pragmatic. If you are a potential entrepreneur, the book will motivate you, help you figure out when the time is right, and then guide you along the entrepreneurial path. Ed McLaughlin gives specific advice, illustrated with personal examples, which made this book both useful and enjoyable to read! A friend of mine teaches a college class on entrepreneurship and I am going to tell him to recommend it for his students.
As an owner of two small businesses, with the intentions of opening a third, I looked to "The Purpose is Profit" for inspiration in jumpstarting the process. This book is educational, relatable, inspiring, and an overall staple to the library of any individual with entrepreneurial aspirations. This personal account of the successes and failures of creating and managing your own brand, does not sugarcoat the exhausting process. In addition, the book paints a vivid picture of the end result that fuels the entrepreneurial spirit: success and profit. "The Purpose is Profit" reminds us to be active, hard working, and dedicated.
Ed nailed it! He gives step by step directions on your start up, from failures to his success stories, not leaving anything out. I have read a lot of entrepreneurial books, start up books, and business books, but they all leave out the key secret to making huge success. Ed did not leave this out, I can best describe this book as your grandmothers sauce, She tells you all the main ingredients but leaves out the key secret ingredient, so that the success of the sauce will not be there. Ed, on the other hand; tells you all the ingredients and gives you the right direction to make a successful sauce. This is one book I will be able to leave on my desk and refer back to. It is not just informational but also a great read, He really brings you in and surrounds you with knowledge from his life's story.
"The Purpose is Profit" is unlike any other business book I have read. I normally walk away "wanting more".... not after reading this book.Ed not only gives sound philosophical advice, but also real world examples and actionable steps to ensure success. The beauty of this book is that it can be a quick, enjoyable business read for some, or a "gospel" for others who are thinking about fulfilling a dream of entrepreneurship.The Startup Roadmap alone provides the knowledge you can spend years trying to acquire, and is frankly worth its weight in gold.
I recently retired from feature film production, and have often thought about starting a business in a different field. The Purpose Is Profit: The Truth About Starting and Building Your Own Business has given me an insight into businesses that are structured differently than the broad-based film industry, and it articulates elements of small business in understandable terms. In addition to the nuts-and bolts information, the authors’ individual experiences of walking the line between entrepreneurial dreams and business realities are invaluable to one who is launching into a new venue. I highly recommend this book, and appreciate the common sense advice it offers and the healthy dose of "follow your bliss."Judy Juracek
Thank you Ed and Wyn for putting this book together. We recently started a business and would refer to the information in this book constantly. It truly helped us get the business up and running. And the startup roadmap was amazing in putting together our business. Having a step by step guide to build and manage the business was a tremendous help. We joined your mailing list so let us know any projects you begin in the future.
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