Chances are, your business is aiming far too low — and earning exactly the results you deserve.
Experts across the board, from Tony Hseih to Umair Haque, are calling business leaders to a higher standard. Now, thanks to the folks at Wharton School Publishing, no business leader can justify sacrificing long-term dominance for short-term gains anymore.
In their new book, Firms of Endearment, authors Raj Sisodia, David Wolfe and Jag Sheth selected 28 companies “truly loved by all who come in contact with them – customers, employees, suppliers, environmentalists, the community, even governments,” and compared their performance over a 10-year period against companies highlighted in Jim Collins’ best selling Good to Great, and against the S&P500 Index.
Here’s what they found:
An excerpt from the book’s summary:
These companies pay their employees very well, provide great value to customers, and have thriving, profitable suppliers. They are also wonderful for investors, returning 1025% over the past 10 years, compared to only 122% for the S&P 500 and 316% for the companies profiled in the bestselling book Good to Great — companies selected purely on the basis of their ability to deliver superior returns to investors.
So, remind me… why do you run your business the way that you do?