Profit and Loss - What it means to me.

What is profit to me?

EOS Security is a year old and amongst of all the things this means, one is that it is the time of year to get the books in order and submitted. A process required for business and one that I don’t have much time for, and yet know it is needed.

I am not financially clever. Those that know me, know I understand it but also know I place other areas in greater importance, such as service, reputation and doing the right thing.

It seems to me that this financial reporting part of business, boils down to two areas: Profit and Loss. This seems to be where most businesses concentrate on. In my past life, working for Global and National companies, this was pretty much the only thing they seemed bothered about. When I created EOS Security, I placed our core values front and centre of everything and within these values I placed the words; ‘Not to be led by profit’.

Definition of Profit.

When you look up the definition of profit, you see something similar to the following:

‘a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.’

The second thing you will see is another noun used:

‘Advantage. Benefit’

So, I suppose it is the definition that matters. For most businesses, the first definition makes sense. For me though, it is the second. I understand that for a business to succeed, it needs to make money, above that on which it spends. But does it need to be the focus?

I have spent the first year of EOS simply concentrating on providing an excellent service to my customers, to creating security solutions that not only meet the requirements but exceed in them. This has meant often giving something for free or at a reduced cost to them. This, by the very definition of the first phrase, effects my profit but does it effect theirs? I would suggest, not.

In fact, I would suggest that it merely helps to give them a benefit or an advantage, as they get what they need, but cheaper than they expected.

Furthermore, surely by doing the right thing, I have gained an advantage and benefit, as I have instilled trust, honesty, and exceptional service towards protecting a business and through our commitment towards the environment a much larger benefit and advantage in making it better then it was the day before.

Small Businesses

I am sure that many small businesses think in a similar manner to me. Together we make up the highest percentage of businesses in the world (SME), yet our footprint is not as strong as larger ones, our buying power is less, our marketing and brand awareness is far less. I have learnt over the last 12 months that in those moments I had in previous roles and jobs when I thought that I was working 24/7, I wasn’t. But I am now.

It takes everything to run a small business, no matter how smart your thinking is.

I am prouder of myself now, then I have ever been. I have made a larger difference as the owner of a small business then I ever did working for the big boys. I salute other small business owners for going down this path, it is hard, relentless and at times totally soul destroying, but it is also the greatest feeling in the world. To actually make a difference, to give a benefit to another, to give other companies an advantage so they too can benefit.

Environment & Awareness

For me EOS is about more than just being a security provider. It is about making tomorrow better. My marketing, my awareness campaigns and my focus is clearly on this aspect as, to me, this is exactly what security is about, protecting people.

I have received some tremendous support along the way. Comments about how unique EOS is, how its marketing is beautiful and I am even asked who does it for me (It is me by the way). I also get comments that I tend not to concentrate on security, but on areas that are not security related. This totally baffles me, as what I support and promote is exactly what security is about, just not in the way they see it.

Last month, for example, was World Heart Day, International Day of Peace, and our National Emergency Services Day. By supporting and promoting these campaigns of awareness I feel that this is exactly what security is about, your health, your peace, and your protection. I need get nothing from this to make a profitable action as if it just helps one person, that is enough for me. Job done.

Reputation

EOS, I am sure, will never be a brand name to match the larger corporations. No entity I join will ever shout out that EOS Security has signed up for all to see. You will never hum to yourself, the EOS marketing tune.

But for those that find us will see the benefit and advantage to being partners with a company that cares and sees its profit as beneficial to theirs.

I believe in what I am doing, my customers see it. The reputation of EOS is small but solid and continues to grow as being a brand that cares, regardless of how much money it makes.

Our year end books are done. My financial profit is less then it could have been but my benefit and advantage given to others, so as to protect them better and protect our world, is so very much better than it was a year ago.

Knowing this, believing in this, and striving to continue in the same manner, how can you possibly see a loss? I can’t.

So perhaps, on reflection this core value is incorrect. EOS is profit led, just not ours.