Kuratore
The Purpose Is Profit
Book

The Purpose Is Profit

The Truth about Starting and Building Your Own Business

Ed McLaughlin, Wyn Lydecker and Paul McLaughlin
Greenleaf Book Group, 2016
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Editorial Rating

9

Qualities

  • Innovative
  • Applicable

Recommendation

Ed “Skip” McLaughlin – writing here with his son Paul McLaughlin and with business-planning expert Wyn Lydecker – is an Ernst & Young Entrepreneur of the Year and the founder of four businesses. The authors tell the story of USI, a start-up that McLaughlin and his partners built into an Inc. 500 company. They present a 21-step “roadmap” of practical, clear, actionable advice for starting, building and expanding a business. getAbstract recommends their valuable guide to business owners, start-up entrepreneurs and students studying how new businesses succeed.

Summary

The Rise of USI

Ed “Skip” McLaughlin worked in sales for Hewlett-Packard, IBM and the Trammell Crow Company, a nationwide US real estate developer. In 1991, in his mid-30s, McLaughlin left Trammell Crow to start his own business in real estate outsourcing, his area of special competence and expertise. Confident in his knowledge and experience, McLaughlin felt certain he could create a successful new business. His certainty sprang from a preorder sales commitment from Bill Scheller of Patterson Dental, America’s largest distributor of dental equipment and supplies. Kip Chafee, head of real estate at IDS Financial services, also promised to become a client of McLaughlin’s new firm, United Systems Integrators Corporation (USI). The firm targeted real estate customers at Fortune 1000 corporations.

McLaughlin went into business with two partners, Gus Poulopoulos, a recent graduate of Fordham University, and Tom Dever, the husband of McLaughlin’s assistant at Trammell Crow. To fund his start-up, McLaughlin relied on bootstrapping with his own money. He didn’t take a salary during his first year of operations. He paid his partners small salaries, and offered them each...

About the Authors

Ed “Skip” McLaughlin has founded four businesses and is currently running his fourth company, Blue Sunsets LLC, investing in startups and real estate. Wyn Lydecker launched Upstart Business Planning. Paul McLaughlin, MBA, is an associate in the financial advisory services group of Deloitte’s real estate consulting practice.

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