Some Important Questions that You Should Ask
Why do you put forth the effort that you do every day? Is there a purpose behind this, or are you just acting in accordance with habit?
Why even do business at this location? Does your organization have any significance outside of the realm of providing goods or services?
In a nutshell, what are you trying to accomplish? And what kind of mark do you want to leave on the community that surrounds you?
If you are unable to express the objective of your firm in a clear and concise manner, the potential for development in your organization is severely constrained. It’s possible that you’ll keep running your company and perhaps see some expansion.
Give Your Firm A Purpose and See it Grow
But if you want to GROW your company massively, having a genuine purpose will drive your employees to accomplish the fantastic and help you attain your long-term business objectives. If you don’t have a heartfelt purpose, your business won’t GROW.
According to study that was carried out by Jim Stengel, a former chief marketing officer at Procter & Gamble, businesses that have higher goals routinely beat their rivals. In the book “Grow: How Ideals Power Growth and Profits at the World’s Greatest Companies,” written by Stengel.
He discloses that in a 10-year growth study of 50,000 different brands, the 50 firms that performed the best were the ones who focused on their ideals. In point of fact, the growth of these 50 companies was three times quicker than that of their rivals!
The most successful companies in the world understand the significance of having a mission and do not focus just on selling their wares. They market themselves as vendors of “better ways of life.”
In their mission statement, Procter & Gamble, which is not only one of the most successful firms in the consumer packaged goods industry, but also one of the most lucrative companies in the world, says the following:
“We will deliver branded goods and services of high quality and value that enrich the lives of customers all around the globe, both today and for future generations.
As a direct consequence of this, customers will reward us with market-leading sales, profits, and wealth creation, which will ultimately benefit both our shareholders and the communities in which we live and work.”
P&G’s goods, as well as the way the company treats its workers and the charitable work it does, consistently contribute to an improvement in the quality of life for consumers.
It is the only reason why they have come to provide service to 4.6 billion individuals all over the globe. It’s not complicated, it only takes two phrases, and no business choice is finalized until it satisfies that requirement.
Another excellent example is provided by IBM, which is largely a B2B solutions provider and provides three bullet points that illustrate the company’s fundamental value:
“Dedication to the success of each and every customer, Innovation that matters for both our business and the globe, Trust and personal accountability in all of our interactions.”
Easy and uncomplicated. Because it is stated so plainly in the mission statement, each and every member of the organization, from the chief executive officer down to the newest employee, is able to comprehend and retain this information.
It provides everyone with a goal, and more crucially, it provides them with a clear filter through which to make decisions. Therefore, every person is able to make decisions more quickly, with less difficulty, and with greater consistency.
This enables the company as a whole to move faster and more decisively than the competition, regardless of whether the decision concerns how to market a new product, what philanthropic effort to participate in, or how to choose employee benefits.
In addition, it is not necessary to have a revenue of $85 billion or $125 billion like Procter & Gamble or IBM for this information to be relevant. Patagonia is known all around the world for its dedication to protecting the environment. The following is a declaration of its mission:
Build the greatest product possible while causing no additional damage, and utilize business to inspire and execute environmental solutions.
This deeply rooted purpose has resulted in an increase in income that is very close to double over the course of the previous five years. And this was accomplished in the midst of a terrible economic downturn.
Even for your company, discovering its raison d’être is possible, and here is the way to do it. Collect the employees at every level of your firm who have the best ideas and the most compassionate souls. Put yourself in a room together and get the job done. Investigate the person that you are on the inside. What exactly are you concerned about? What gets your motor running?
What Does Your Company do?
Then on to elucidate your reason for being here. This might take as little as 20 minutes or as long as 20 hours. No matter how long it takes, every single moment will be well worth it. Not only will you be able to assist a greater number of individuals, but also the operation of your organization will become more streamlined, accelerated, and robust. You will, as a happy side effect, also earn more money.
Struggling to figure out where to begin. The following is a list of questions that need to have answers included in your statement of purpose:
- In what ways does your firm make the lives of your customers better?
- In what ways does your organization contribute to the betterment of the world?
- In what ways is your organization working to improve itself?
Conclusion
Whatever it takes, make a pot of coffee, pick up some munchies, or get a six-pack of your favorite beverage. Do not leave the meeting until a concise purpose statement consisting of one to three sentences has been drafted and agreed upon.
Introduce it to your staff and your customers, and make sure that in EVERY choice you make, you stay true to your goal. Then sit back and watch as your company expands to a far greater extent than you could have imagined.
