How to Lead a Purpose-driven Business

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By now, most entrepreneurs know that they cannot run a business without passion and grit. Money, after all, can only get them far.

The problem is many also lose their way in the process. Sometimes revenues come first before values. In other situations, the choices of products and marketing campaigns reflect how far the company has drifted away from why it started in the first place.

How can your business avoid treading the same path? Here are some ideas on how to lead a purpose-driven business:

1. Create a Mission-vision Statement for the Business

Businesses should have a mission-vision statement that sums up what the company or startup is all about. Naturally, you will need to be flexible as the business changes and evolves over time, but it gives everyone a clear indication of where they are headed.

If there is one document every team member needs to read regularly, it is this one. Consider including the following elements in your mission-vision statement:

  • Why you are doing the business
  • Your areas of responsibility as an entrepreneur or company leader
  • How you interact with clients, suppliers, and other business partners
  • What values have to underpin everything you do—in short, your code of conduct

2. Be Guided by a Professional

There’s a good reason the saying “Two heads are better than one” always rings true. In many ways, other people’s perspectives can help us discover more about ourselves, including whether we are purposeful with our actions.

Businesses that want to remain true to their values and mission might want to engage life coaching services online or offline. A life coach can help companies to:

  • Gain clarity and focus on what you want to achieve
  • Remain focused when the going gets tough
  • Create a plan for achieving your goals
  • Develop the right mindset

3. Enhance the Company Culture

No two companies have the same values and principles, but every team has a culture that influences their behavior. Are you aware of what yours is?

Take a moment to look back over the past six months and ask how your company culture changed. How does it affect everything from hiring decisions to what kind of products you release?

If you find the culture is drifting away from your original purpose, consider hiring a consultant to help get it back on track. As you work through this process, ask the following questions:

  • Do the company’s values and principles still reflect what we do?
  • Is there a disconnect between what we say and how we behave?
  • What kind of company culture do we want?

managers in a meeting

4. Assess Your Performance Against Core Values

Suppose you realized that your business was not purposeful in every area. In that case, it is good to assess how far off the mark you are against each area of responsibility defined in your mission-vision statement. Sometimes these might be skills and knowledge areas—for instance, having the right team members to pursue a particular strategy. Other times they might be competencies—doing certain activities well that contribute to organic growth.

After you have identified which areas are lagging, continue the process of making improvements until your performance is satisfactory. With time, your business will get back on track and set new standards in your industry. With this foundation, you can focus on continuing to provide value for all stakeholders, including your employees, customers, suppliers, and the larger community.

5. Be Passionate About What You Do

No matter how difficult times get or how many setbacks you experience, being passionate about what you do will keep you going even during the most trying circumstances. It’s not an easy task to remain passionate, but you can do it if you clearly understand your purpose and apply just the right amount of effort each day to fulfill it.

How do you demonstrate passion in the business? Here are some ideas:

  • Create a list of activities that you were passionate about before you started your business. Think about what these activities can add to your business vision and how you can use them in your daily work.
  • Ask yourself the following questions: In which areas of my business am I not performing well? What needs to change or improve? What am I passionate about? What do I enjoy doing the most in my business?
  • Use the list of activities and your answers to these questions to develop a new personal mission statement for yourself. Your new mission statement will help you become more aware of what brings you true happiness and satisfaction.
  • Reach out to others. Ask them what they see as your strengths and weaknesses. What do you still need to learn? Create a vision board that incorporates all these elements into an inspiring message. Then, use it as a daily guide to direct your actions and set realistic goals for yourself.

It is important to be clear about your purpose and vision for the company. Your mission-vision statement should clearly define what you want to accomplish, but it’s also essential that your employees understand their role within the business. That way, everyone can work toward achieving common goals while pursuing individual growth at the same time.

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