Here is another valuable Management Tip of the Day from Harvard Business Review. To sign up for a free subscription to any/all HBR newsletters, please click here.

Everyone knows a business needs ethics, customers, and profits, but a lot of companies fail because they get the sequence wrong.

The most common mistake is to put profits first.

When you do, numbers become all-important, and you can justify almost any behavior if it makes money. Instead, start by doing what’s right and make sure everyone in the company does too.

Then, focus on customers. The best way to attract and keep them is to treat them well and be incredibly good at what you do.

Once you’ve mastered the first two elements, you can focus on making money.

Today’s Management Tip was adapted from “Four Things I Want You to Remember Me By” by Clif Reichard.

To read that article and join the discussion, please click here.