Every business is in business in order to turn a profit. That’s a given, and it’s why business is called ‘business’ in the first place. But what about purpose? Why are you in business in the first place? What is your purpose for existing?
If that sounds like an age-old question we all ask of ourselves, that’s because it is. But it’s also a question your company needs to ask of itself.
Purpose is so much more valuable than mere profits alone. In a purpose-driven business there is a bigger reason to exist, a bigger goal to strive to attain. Sure the profits are nice and good things can be done with those profits, but without an underlying purpose, profits in most cases may not be put to the best use.
Purpose Holds Power
Whether it’s to do more good in the world, or simply to do more good for your customers and clients, a clearly articulated purpose for existence and how that purpose impacts the lives of those connected to your business can be powerful.
Not only will a strong purpose motivate your customers and clients, it will motivate your employees and staff. Clear purpose for a business provides not just direction for the company but inspiration. It’s why purpose-driven brands when done right, do so well.
People feel as though working for a company that truly seeks to make a difference and serve the world allows them in some small way to make a difference and serve the world, no matter how small their role may be.
Clear purpose is how your business tugs at the heart strings of your customers and clients, creating lasting brand loyalty. Like your staff and employees, your customers will feel as though in some small way they themselves are contributing to making a difference and serving the world, merely by being your customer, buying your products and services, or spreading the word about your focus initiatives.
Marry Profits with Purpose
Obviously when running a business, you want it to be successful. Turning a profit is important, and there are many ways to improve a company’s bottom line. There are many ways to simplify and stream-line processes to achieve objectives and goals, and as the old saying goes, there’s always more than one way to skin a cat.
However, deciding on all of those objectives, goals and processes becomes infinitely easier when driven by an overriding purpose. Equate it to your personal life. Purpose is what we all look for in our day to day living. It’s what guides and directs our steps in the walk of life. “Why am I here” is a question that has been asked since the beginning of time.
It only makes sense then that businesses seeking to impact more than just their bottom line, should also ask themselves “Why are we here?” Tip… make the answer a good one. Comments welcomed below.