Calvin Coolidge
The Quote in Other Words
No business can survive on its own. It fulfills a significant purpose, provides a valuable service, not solely for its own benefit, but for the benefit of others. If it fails to do so, it becomes unprofitable and eventually ceases to exist.
Explanation of the Quote
This quote highlights the importance of purpose and service in any enterprise. It suggests that a business cannot exist solely for its own benefit, but must instead provide value to others in order to be successful. This value can take many forms, such as meeting a need or providing a service that improves people’s lives.
The quote also implies that businesses must constantly adapt and evolve in order to remain profitable and relevant. If a company fails to provide value to its customers or stakeholders, it will eventually become obsolete and cease to exist. This underscores the importance of innovation and staying attuned to the needs of the market.
Overall, this quote emphasizes the idea that businesses must have a greater purpose beyond simply making money. By serving others and meeting important needs, companies can create lasting value and make a positive impact on the world.