29. The Frenemies: Profit and Values
They are neither enemies nor friends
As Reid Hoffman stated on the Masters of Scale podcast episode with Starbucks Founder Howard Schultz:
“Profit and conscience are neither enemies nor friends — they’re frenemies. You have to be creative about how you bring the two together.”
I think every aspiring entrepreneur or business leader should listen to this episode, and think of their businesses’ impact from the start. Because it’s not something that you can think about later when you scale.
It’s just like the culture and strategy. These two should also go hand in hand. More about that later…