The ABC’s of Business Planning – What is your Business Purpose?
Why is it important to have a purpose?
If you’ve ever wondered what a business purpose statements all about, it’s important to understand why you’re in business. I’ve spoken about vision before, where you see the direction of your business and your business in the future; but what is the actual purpose behind the whole business?
If you are interested in learning how powerful it can be to understand your "why", I would highly recommend you view Simon Senik’s Video, 'How great leaders inspire action' . He talks many times about people caring more about why you do what you do, over what it is that you do.
It’s about connecting our emotions and our heart, with what we do.
What is the difference you want to make?
When we talk about Level 5 leadership, it’s about wanting to achieve something greater than our own ego, leaving a legacy and making a difference.
Sometimes it takes a bit of thought to figure out your purpose, it's tricky - try thinking about your core personal values and then link your business purpose to your values! Once you have a clear reason behind what you do, it will be the backbone to your business and drive your enthusiasm.
Once you know why your business exists, you should share it with your team as they’re going to have a lot more passion and purpose if they know why they’re doing what they’re doing. Your purpose should extend from your own connection with why you do what you do, to your team and then your clients.
It's the motivational force that drives you, and outlasts any goal or product offer.
Here are a few examples to help you find YOUR why:
- Ford – “To allow everyone the opportunity to own a motor vehicle.”
- Disney – “To make people happy.”
- Microsoft: To help individuals and businesses realise their full potential.”
A finance company’s why might be 'to empower people to take control of their financial situation', and a charitable foundation’s might be 'to inspire philanthropy in people, to make a difference to those less fortunate than themselves'.
My why is to inspire people to achieve beyond their wildest dreams, and to leave a legacy. I want to touch a million people’s hearts for the better before I leave this earth.
So ask yourself; Why are you in business?
If you don’t know what your why is, it’s really important to discover the purpose behind what you do every day. You and your team will feel a lot more passionate and motivated which should make a lot more impact in the world.
What drives you to succeed? What difference do you want to make in your current role? What is your purpose as a leader, and what contribution are you and your business making to others?
Discovering your why will help you to reinvigorate your own motivation, and remind you that you have a purpose beyond today.
There's something quite special about discovering your purpose; it transforms the way you approach your days and creates a path to greater success and freedom in your choices.