What makes it really the hardest about running a business (any business model) is caring about all stakeholders whether or not we directly benefit from them.
I am a fan of WP NINJAS and its business model.
I recently came across an insightful post on their blog, which talked about the FREEMIUM business model although I found a part of their post carrying a flawed philosophy.
In one of the paragraphs, the writer says, “In my opinion, the best business model is the one where your business is profitable and your customers are happy. Everything else is irrelevant.”
If you give it a second thought – most capitalistic structures around the world glorify this philosophy.
Businesses must consider stakeholders they don’t directly benefit from. This may not apply to WP development businesses but it does apply to a lot other businesses who presume they are doing greater good just because “their customers” and/or their employees/shareholders are happy.
There are customers who wouldn’t worry about how businesses run sweatshops who create products they happily use. But in such a case, are sweatshops irrelevant?
I hope not.
What makes it really the hardest about running a business (any business model) is caring about all stakeholders whether or not we directly benefit from them.
But care we must!
In my opinion, an ethical business is caring for all stakeholders, and not just the customers.