What is the purpose of a business? Every time I ask this question during a business seminar, the immediate answer that I get back is, “To make a profit.”

But this answer is wrong. The purpose of a business is to create and keep a customer. If a business successfully creates and keeps customers in a cost-effective way, it will make a profit while continuing to survive and thrive. If, for any reason, a business fails to attract or sustain a sufficient number of customers, it will experience losses. Too many losses will lead to the demise of the enterprise.

According to [...]