Summary of The Purpose Is Profit

The Truth about Starting and Building Your Own Business

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The Purpose Is Profit book summary
A top entrepreneur shares the secrets of starting, nurturing and expanding a successful business.


9 Overall

9 Applicability

8 Innovation

9 Style


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.

In this summary, you will learn

  • How Ed “Skip” McLaughlin built a start-up into an Inc. 500 company
  • What “Roadmap” steps to follow to start a business and
  • How to take “21 steps to profitability.”


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...
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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.

Comment on this summary

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    Rajesh Venkiteswaran 5 months ago
    No new ideas.
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    Victoria Littlefield 11 months ago
    There is nothing here to distinguish this book from dozens of other how-to-start-a-business books. The Dummies book on how to start a business appears much more useful.
    • Avatar
      Maged Eltohamy 9 months ago
      I agree

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