AMERICAN ANGUS ASSOCIATION - THE BUSINESS BREED

ANGUS ANGLE

Profit or Purpose?

Defining your defining your business’s purpose is valuable endeavor.

By Julie Mais, Angus Journal Editor

December 31, 2024

“What do you enjoy most about your job?” is a question I often get when speaking to a group of college students looking to pursue a career in agriculture communications.

“How’s work going?” is a conversation starter often with family and friends.

I know I’m blessed to be able to respond, “The people, the breeders I work for,” and “Going well! I get to share the stories of families in the cattle business so similar to my own.”

Do I enjoy the tasks of writing, editing, helping to put together a legacy publication? Absolutely. But I know these skills are transferable, but what isn’t, is the purpose to which I’m using them for. 

The balance

Raising cattle is not for the faint of heart — or for anyone lacking integrity and work ethic. The winter months can be long. This season brings weather challenges, calving, long days that are short on daylight. You have a business in your Angus herd and need to turn a profit to be sustainable. 

Profit is quantifiable, but measuring purpose is not as easy. In an article on Forbes.com titled “Striking The Balance Between Profit And Purpose,” Teri Thomas, CEO of Volpara Health, writes “A McKinsey survey on organizational purpose revealed some telling statistics: 82% of respondents believe it’s important for a company to have a purpose, and 72% said purpose should carry more weight than profit. However, only 42% reported that their organization’s purpose drives impact, highlighting a gap between aspiration and execution.” 

Her audience is tech companies, but the idea of defining your business’s purpose is valuable across industries.

“A good purpose statement is short, memorable and connected to your company’s differentiators,” she writes. “Purpose is a guiding light that informs everything we do … But profit and purpose are not mutually exclusive. Profit is what fuels your purpose.”

If I know anything about cattlemen, it’s their deep sense of purpose, as caretakers, as farmers and ranchers, that drives them to care for their cattle and land in the good days and bad. This purpose will ensure a strong legacy for the next generation. 

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Julie Mais, Editor

Publication: Angus Journal

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