It’s been proven over and over again that businesses driven by purpose are also successful in attracting talent, customers, and success. So much so, that in the past two years the term purpose-driven business has almost become a fad, thrown around by magazines, consultants, and coaches around the world.
However, if you’re like many of my coaching clients when I first met them, the idea of a company purpose may seem light, fluffy, and a waste of time. You’d be making a big mistake.
Last week I was driving to the park with my son, who turns three next month. On the way we past a gas station near our home, and he asked, “Why is that truck there, daddy?” He was referring to an big underground tank service truck parked on the sidewalk next to the station.
I explained that the truck was there because someone was working on the underground tank that holds gas… And I bet you can guess what he asked next.
And again, and again, “Why, daddy, why?”
He asked it over and over until he was satisfied that he understood the real reason that anyone would park a truck like that one at the gas station near his home.
This question of why has the power to get to what really matters. And, if you ask it enough times, you’ll discover what really motivates someone to do anything.
It’s important to any leader or business that works with any people to know their why… their purpose.
But when I talk to my clients about their purpose statement, I’m almost always met with a comment or question that sounds something like, “Do you mean my mission/vision/values statement?”
Maybe, you’re thinking the same thing right now.
That’s okay, it’s not your fault.
As a business coach who helps contractors and service professionals break through $1 Million in annual revenue while increasing their freedom and profitability, I know things must be practical — not fluffy, abstract tasks. They must benefit your bottom line — otherwise it’s just another waste of time, right?
So let’s spend a few minutes, together, getting clarity on what makes how your company’s mission, vision, values, and purpose different and how a strong purpose creates practical AND profitable benefit to you, and the rest of your company.
1st – What are Vision, Mission, Value, and Purpose to a Small Business?
Your Vision is an internal road map for you and your staff; indicating what the company is becoming. By looking 10, 15, or even 20 years into the future, describing your company in a clear concise, and inspirational statement, your vision statement sets the direction and guides all strategic and transformational initiatives.
Your company Mission is a simple sentence that states what business you’re in. It is used to keep your management and staff focused on the important part of the work they are doing.
Values describe the organization’s culture. They act as a guide and create a set of expectations for the behavior inside your company.
Each of these statements communicate a set of boundaries or rules for HOW someone should view the company, do the work, and behave as a team.
Your Purpose is different.
Your purpose statement communicates, “WHY.”
WHY should anyone buy from you?
WHY should anyone work for you?
WHY should I even care?
WHY does it matter?
The answer to the WHY question contains your company purpose; your company purpose hold the the key to engagement & performance.
2nd – How a strong purpose creates practical benefits for team engagement?
A good answer to the question, “Why,” contains the power to engage and inspire the actions and loyalty of both employees and customers.
“We are drawn to leaders and organizations that are good at communicating what they believe. Their ability to make us feel like we belong, to make us feel special, safe and not alone is part of what gives them the ability to inspire us.”
— Simon Sinek, Start with Why: How Great Leaders Inspire Everyone to Take Action
It’s simply a part of how our minds are created to work.
As a leader, if you can assign an authentically powerful purpose to the existence of the company AND each job function, then you will multiply the energy each of your team members have to give. They will align with a powerful purpose. They will fight for a powerful purpose. They will even sacrifice for a powerful purpose.
I understand how tempting it is to think of your company purpose as a non-necessity. I’ve made that mistake myself, and I watch other owners make that mistake over and over again. It’s easy to do, but it costs a great deal when it comes to building a business that creates freedom and profitability.
However, if you get it right — if you invest the time needed to properly create a good purpose for your company, you will begin to experience the benefits: engaged team members, better productivity, better results, and more profit.
David J. Robertson is the Founder and a Business Coach with Growthpoint Coaching Co. He helps contractors and service providers install the 22 business systems, tools, and strategies that quickly create freedom and profitability. You can learn how to dramatically increase your profit and create more free time in your week at www.GrowthpointCoaching.com.