The 6 Fundamental Business Principles of Petrov LMC
Bedrock Principles for This Business
Welcome back to another edition of the Petrov LMC Leadership Blog! My hope is that you have received great value (and actionable ideas) from this content. You can sign up to receive alerts for new blog posts and you can follow me on Twitter and Facebook. With today’s post, I wanted to elucidate the fundamental business principles of Petrov LMC:
- This business exists to serve others – specifically current or aspiring leaders and managers – by teaching, encouraging, and holding leaders accountable to bedrock principles like discipline, integrity, love, and service. However, that is just the first level. I am imagining a day in the future (10-15 years down the road) where this business is a major force in serving (through a charitable arm) kids in need such as orphans and foster kids. This has been a priority mission in the life of our family and we would like to be able to help more families come along as we try to tackle this rapidly escalating issue (the numbers are scary).
- I believe in bringing value and trust to customers first. My money does not come from click bait, banner ads, selling junk, etc. The more I become involved in this business the more I see the myriad ways people make money online. Not all of them are honorable. A key component of who I am – integrity – extends to the business as well. The value I am espousing comes from my writings, ideas, videos, and audio. They serve to validate my authority as someone who has lived and learned leadership principles. Wisdom needs to propagate.
- Social media exists to educate, to grow awareness and to grow trust over time. Then and only then will customers be interested in buying my company’s services. Personally, I have had somebody try to sell me on their “mastermind” group with the first contact. That doesn’t work because there is no relationship there (salesmanship is a real concept). I am willing to put the time in to develop that trust and presence. That is foundational for a company to exist far into the future.
- I don’t make any money until the customer makes money first. This flies in the face of most consulting businesses where they charge $1,000 per hour first and they bear no responsibility for the actual outcome. I value my reputation and this business’ potential reputation too much for that kind of arrangement. I am looking for long term business partners who want to grow their business. If I help a business grow sales and profitability, I believe they would be happy to pay a portion back to me (essentially a commission).
- I strive each day to be better personally, mentally, physiologically, and emotionally so that I can bring the best of my talents each and every day. This goes not only for customers but also family and friends. I believe I can have success in business and still have success with my family. After all, I am the CEO there.
- Biblically based leadership doesn’t mean I am going to be constantly evangelizing. My faith is an integral part of who I am and what I do. I understand that there will be people who don’t agree with all I believe in. However, I do believe there is some common ground for leaders of all different faiths – love, respect, and integrity to name a few. These are concepts that have been around thousands of years and that simply work for leaders – especially leaders in the business world.
There you have it. If I had to sum it up, I could use the core values from my old Air Force days. Back then I didn’t think they would have such a profound effect on me. Now, however, I believe they fit in nicely within the larger framework of me and this company.
- Integrity First
- Service Before Self
- Excellence In All We Do