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Why business owners need a mission & purpose!

Creating success involves planning, innovating and taking deliberate action to shape your future the way you want it to be.

Your Business Mission plays a pivotal role in creating your success.  You must have a Business Mission that complements and furthers your personal goals and aspirations, guides the development of your Business Strategy and channels your innovation efforts to where they count most!

It provides a framework to guide your business direction and activity, ensuring everyone in your business is working in the same direction, for the same cause with maximum effort and effectiveness.

It provides context for the development and realisation of your Business Strategy, a ‘lens’ through which to spot opportunities and threats, focus your innovation efforts and to accelerate your success.

You need to be clear about your purpose to avoid drifting!

In the absences of a clear Business Mission, the lack of purpose leads to below average business performance, misplaced innovation activity and outcomes that ultimately do not align well with your personal goals and aspirations.

It decreases the chances of getting what you want from your business and limits your happiness and success.

Being in business in a competitive environment and not having a clear Business Mission, is akin to drifting rudderless at sea, in a storm that relentlessly pounds at your very existence – adrift and at great risk of failure!

Having a clear purpose allows you to chart a course to success!

Successful businesses have a well-developed Business Mission that remains relatively enduring, while their goals and targets constantly adapt as the world changes.

They know why their business exists, what its purpose is and how it makes a difference!

It guides the development and execution of their Business Strategy, provides meaning and the motivation needed to achieve superior business performance that is aligned with your personal goals and aspirations.

For people to work together effectively with maximum effort, they need to know ‘why’ and for what cause!  The Business Mission guides their behaviour and actions – it provides meaning, something that drives people to do things because they want to, not because they have to!

Focusing your business primarily on financial outcomes or profits is far less meaningful and inspirational than having a Business Mission focused on enriching people’s lives and making the world a better place!  No matter how ‘ordinary’ you perceive your products and services to be, you can better motivate others by not focusing purely on your financial outcomes!

When you have a group of people rallying around a common purpose, cause or belief, creativity and innovation can flourish – amazing things can happen!

What does a Business Mission include?

Your Business Mission includes your business’s:

  • Purpose – the reason for its existence and why anybody should care!
  • Core assumptions and beliefs – the handful of things everyone must embrace in the pursuit of its purpose!
  • Focus – clarity around where the business should go and importantly where it should not go!

While your Business Mission does not need to be in writing, it is critical that it is clearly articulated, communicated, understood and actioned!

An effective Business Mission will enhance success by establishing greater clarity of direction and loyalty from staff and customers.

Why does your business exist?

A key part of your Business Mission is understanding the purpose of your business.

While all businesses have the same overriding purpose – to find customers and provide them with value – every business is unique, with different products, resources and activities.

Your business also has another unique and defining asset – YOU!

This allows you to define you own business purpose as something unique about you and the value your business provides, something you can use to motivate your staff and engage your customers with.

It is an opportunity to differentiate your business and strengthen its competitive advantage.

This point of difference should embrace your unique purpose – why you do what you do.  Something that closely reflects who you are and what you believe, something:

  • Unique about life, the world or your industry
  • That you believe can or cannot be done

That you can use to inspire your staff and engage your customers!

To uncover your business purpose you may need to think about:

  • Why you started doing what you are doing in the first place?
  • What would be lost if your business ceased to exist?

It should be specific and personal, something that resonates with your core life-long values, strengths and passions.

It must be something authentic that you can communicate and action clearly, easily and consistently.

Live your purpose!

Once you have clarity of purpose and a positive and powerful Business Mission, its needs to be communicated and put into action.

Once you know what you want from life, your Business Mission is a powerful tool that can be used to inspire and guide your business success.

You live your business purpose by creating your vision of success, developing your Business Strategy and engaging in the ongoing innovation activity needed to get what you want from life!

If you would like to learn more about how to discover your purpose and create a powerful Business Mission that will accelerate and sustain your success, give the team at Fortitude Business Consulting a call on 1300 551 040.


Downloadable Resource

Why business owners need a mission & purpose!