Do you remember the day when you got the idea or the platform to start your business?
You were so passionate and was excited to impact the world in a big way.
As the day went by, things weren’t working as you expected.
Most of the day you spent time on how to survive and how to beat the competition.
Now you even struggle to wake-up every single morning to go to work.
Your passion has been lost for your business.
What happened? You may wonder is it your problem, or the idea, or the industry you choose to work?
Most entrepreneurs and their teammates lose the passion for their business because of a primary reason, that is:
Lack of Business Purpose
90% of entrepreneurs who fail, didn’t define their “Why” or “Business Purpose” for their business when they started up.
They created the product or service and wanted to rush to the market.
Today, people have endless choices of products or services.
These days people do buy from those who feel connected to.
In other words, they pay to those people who have the same value system as they have.
Simon Sinek in his famous Ted Talk: How great leaders inspire others? says that:
“Goal of today’s business is to attract the people who believe in what you believe in”.
In case you don’t define the true purpose of your business, when you get some rejections from your prospects or when you have cash flow challenges.
Your excitement level will go down.
And eventually, you may fail.
Importance of Business Purpose
You need to make sure you come up with a Deep Purpose for your business which is very important to regain your passion for your business.
People think Vision and Purpose are the same. Vision is where we want to go. But before we decide where we want to go. We need to have clarity on why you want to go where you are going.
So finding what is that drives you as a person and ties it with your business purpose will make you passionate day after day even the worst things happen in the business.
In case you see all the great businesses and the most valuable businesses in the world, all of them have defined their “Purpose” of their business.
Because of this clarity of where they wanted to reach, has helped them become who they are today.
Let me quote Simon Sinek’s Ted talk here again:
Why? How? What?
This little idea explains why some organizations and some leaders are able to inspire where others aren’t.
Let me define the terms really quickly. Every single person, every single organization on the planet knows what they do, 100 percent.
Some know how they do it, whether you call it your differentiated value proposition or your proprietary process or your USP.
But very, very few people or organizations know why they do what they do. And by “why” I don’t mean “to make a profit.” That’s a result. It’s always a result.
By “why,” I mean: What’s your purpose? What’s your cause? What’s your belief? Why does your organization exist? Why do you get out of bed in the morning? And why should anyone care?
Mostly we think, we act, the way we communicate is from the outside in (What -> How-> ?), it’s obvious. We go from the clearest thing to the fuzziest thing.
But the inspired leaders and the inspired organizations — regardless of their size, regardless of their industry — all think, act and communicate from the inside out.
They all start with the “Why”.
Great Businesses have Greater Purposes
Let’s explore the purposes of some of the world’s best companies below, hope it will inspire you to redefine or create a deep purpose for your business:
“To be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices.”
2. Alibaba Group
“To make it easy to do business anywhere.”
“To give people the power to share and make the world more open and connected.”
“To build the Web’s most convenient, secure, cost-effective payment solution.”
“To enable people and businesses throughout the world to realize their full potential.”
“To organize the world’s information and make it universally accessible and useful.”
Steps to Define the Purpose
Hope you have got some ideas after going through the above business purposes of some of the greatest businesses in the history.
Here is a step-by-step process you may use to find out your purpose for your business.
Take a deep breath. And sit silently for a minute. Ease yourself.
Think about a past situation when you walked away, or got angry at, or got into argument with someone.
Better think about a non-relationship situation.
What was it that thing pissed you off? Was it the way that person behaved or done something?
In case you really thought about it as instructed in Step 2.
Then try to figure out the value system which made you fight for?
Was it you were looking for Perfection? Integrity? Honesty? Contribution? Ethics? Health? Education? Travel? Luxury?
Close your eyes and think from your heart.
What was that value you hold in your life which you want to keep it for a lifetime and want to inspire others to do the same?
Once you got that value which you hold on to your heart, in your life.
Then attach it to the customers you want to service or attach it to the product or service of your business.
Think how you can serve, not how to make more money.
Money and profits are by-products when you serve and add value to as many people as possible.
The whole point is to set your purpose by going deep inside your heart.
In case you can’t find it now, at least set something up which comes into your mind right now.
Don’t look for a perfect business purpose. You can always refine it.
Don’t leave it to find it later. If you postpone it, your business won’t reach the level you always wanted.
Or it may eventually fail as well.
So go ahead and re-read the steps provided above and define the purpose of your business now!
Look forward to seeing your business on the list of most valuable companies on earth sooner or later.
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