Is It A Business Or Is It A Company, And Does It Make A Difference?

Today is a very short post regarding businesses and companies. There is something for you to consider at the end of this post.

Every time I go to or connect to a networking event, I hear the words business and businesses being used extensively. I have never been keen on calling a company a business. I prefer to use the term company instead of business. When I change my language from business to company, a few things happen. Let me tell you about three things which make a difference to me.

  1. The focus is not just on trade but also what actually happens

This is what I mean. When I say Equitus is an engineering business, the focus is on doing engineering in exchange for money. However, when I say Equitus is an engineering company, or a design company, or an innovations company, then the focus is on the aspects of engineering in which, Equitus is engaged.

  1. The focus is not just on balance sheets but also the values

The idea of a company is not just about solid and robust balance sheets, but also about what it stands for, what its values are, and what image it projects of itself to the world outside. Let’s take Equitus Design Engineering and Innovations Limited (yes that is a mouthful). I call it a company, as opposed to a business, because of our purpose, which is a better engineered world, and how we do this; by enabling people excel at what they do.

  1. The focus is not just on selling, but also on the value the company brings

Value is something close to my heart. Those of you that know me or have seen/heard me speak, know the importance I place on value. To me, a business sells, but a company provides value. This means that, what a company offers will add value to my life in some way.

All said and done, whether it is called a business or company is a matter of projecting its image to the outside world. If a company does not offer value, it will have no takers, and if a business offers value, it will do well. What matters in the end is the substance. Questions for you to think about:

  1. Are you a business or company?
  2. What do you want the world to see you as?
  3. Does the business versus company thing make a difference to you?

Please feel free to comment.

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