A Framework for Purpose: It's Not Just About You

In this series, we look at the word PURPOSE and its importance in our businesses. In the first article of the series, we talked about the fact that while every business was started for a particular reason, we can lose sight of that reason over time and then lose the compass it provided in how we operate and serve. This series is meant to help you achieve and sustain alignment so that you can harness the full power of PURPOSE.

We are leveraging the word PURPOSE as a framework to help us discover a deeper understanding.

It begins with the fact that purpose is PERSONAL. What matters most is that you have a clear reason for the business that is personal to you. Then, you can use that reason as a proving ground for all decisions about moving forward and know that the spark that started it all is being fanned into a flame that is lighting the way for you and those you serve.

But it's not just about you. The second part of our framework is about PURPOSE as a UNIFYING force.

Let's start with who might care about your PURPOSE.

First are your customers. Those we serve must know what we stand for and what they can expect when they do business with us. When your purpose is clear and compelling, it can work to develop an alignment with you and loyalty to the relationship.

The second group is your team. Whether they are direct employees or others you work with, your purpose allows them to identify a sense of meaning and fulfillment in their work. It can also be what helps you attract and retain them because they are not just committed to you. They are committed to the work you are doing together.

Another group to consider is investors. Why would they care about purpose? Because it impacts your business's long-term viability and even profitability. And just like with your team, investors also want to know that the work they are supporting supports a worthy mission for those funds.

Then there is society as a whole. Everything impacts everyone at some point. We're all aware of that, even when it seems we have nothing in common. When our purpose is transparent, it allows everyone to see our part in creating positive change and the ability to make a meaningful difference in the world. Your purpose could be the single point of connection that you would otherwise miss.

Here are some interesting numbers from recent surveys that demonstrate just how unifying your purpose can be:

•  88% of those surveyed said they have a higher level of loyalty to a company that demonstrates a purpose they align with.

• 81% said they actively talk about those companies and encourage others to do business with them.

• Businesses aligned to a clear purpose that serves the broader good can experience a rate of growth that is often 4X higher than other companies.

• Profits from those businesses are 12 to 20% higher than others in their industry.

• 79% of those surveyed said that in the future, they would ONLY do business with businesses that serve a purpose beyond their profits.

Is it personal? Yes. It's just not only about you and what you want. It is so much more.

In the next part of our framework, we will look at RESILIENCE. Another one of my favorite topics and something your purpose delivers every time.

"When people are connected to a sense of purpose,

they become more engaged, more loyal, and more productive."

- Simon Sinek

"A shared purpose creates a bond among people,

that can be stronger than any force of nature."

- Dan Buettner