Earlier this month, I was having a conversation with my colleague on the significance of making more money. Anyone can make money but not everyone can hold on to it. He had rigorously pointed out to me that making and holding the money is the result of the intention.
No sooner were my thoughts on this settled, Elisabeth Murdoch in the prestigious James MacTaggart Memorial Lecture at the Edinburgh Television Festival 2012 made a keynote speech.
Elisabeth Murdoch’s speech starts on the 9th minute of the video after all the introductions.
Elisabeth Murdoch is the 2nd eldest daughter of Rupert Murdoch, founder of News Corporation, the world’s 2nd largest media group and the 3rd largest in entertainment group and valued at about US$30 billion, It has interests in film, television, cable, magazines, newspapers, publishing and more. Elisabeth is the founder and CEO of Shine, a television production company.
She was commenting on the very same topic that my colleague and I were discussing. There is no better way of demonstrating these thoughts than to take excerpts from the speech (taken mainly from the concluding part).
She had pointed out that her brother James Murdoch in the MacTaggart Lecture (2009) “ended his lecture with a line in which he claimed that the only reliable and perpetual guarantor of independence is profit.”
James Murdoch is Elisabeth’s younger brother and deputy CEO of News Corporation (3rd ranking person in News Corporation). He had implied that to make a profit (money), it does not matter how it is made.
Then in 2011 in the UK, News International became embroiled in a phone hacking and related scandals. This has not only discredited the brand, closure of its best selling newspaper (News of the World) and possibly himself. James Murdoch was the chairman of News Group Newspapers in London when the scandal was at its height.
She says “The reason his statement sat so uncomfortably is that profit without purpose is a recipe for disaster.”
She goes further and says: “Profit without purpose is a recipe for disaster. Profit must be our servant, not our master. (Values come from a statement of purpose.)
Absence of purpose – or of a moral language – within government, media or business, could become one of the most dangerous own goals for capitalism and for freedom
My Dad (Rupert Murdoch) had the vision, the will and the sense of purpose to challenge the old world order on behalf of “the people”. He literally bet our house on it. My parents spoke to us vividly over the breakfast table about what this purpose meant, and that we could be obliged to be permanent outsiders and constant nomads. But even back then,
I understood that we were in pursuit of a greater good – a belief in better.
A mission to improve the world doesn’t turn business into some social agency. It makes business great.
The late Steve Jobs said, “being the richest man in the cemetery doesn’t matter to me.
Going to bed at night saying we’ve done something that’s what matters to me”.
If we want to even contemplate that we have left an indelible mark on time, that we have left behind a legacy like the great cathedral builders of the past, then we have to aspire to be something special and to change and grow. That is the way that we will live on in others.
We have to acknowledge and dedicate ourselves to our purpose, which is to tell great stories, to inspire our audience, and to contribute to a sense of community.
If we follow this course with diligence and conviction, then we will find that we too are laying the foundations of a new cathedral. “
Comment: There is the illusion that aiming directly at making more money will make you even more money. Yes but it will not be for long. News International is used as an example in this post. Also, look no further then the reputation of the banks after the banking crisis of 2008. The reputation of the major banks in the UK are in shreds at the moment.
However, if you have an intention that contributes to the well being of the Universe, the money is earned as a reward for your contribution.
An appropriate way to end is a Chinese story which was told to be as a child and also in my training in feng shui.
Money is like a “dog” which has 4 legs. It is difficult to catch it because us humans have only 2 legs. The dog thinks it a game of “catch me” and runs away when you are close to it. However, when you make yourself so much in demand, money will chase you. Just work on getting your intention right.
(c) Copyright – Dr Michael Oon. All Rights Reserved Worldwide 2012.