How to Instill A Sense Of Purpose In Your Startup
Originally published: 07/09/2018 15:29
Publication number: ELQ-36952-1
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How to Instill A Sense Of Purpose In Your Startup

8 Ways To Instill A Sense Of Purpose In Your Startup

Introduction

Starting a new venture and thriving in today’s economy is hard, but the best have figured out that customers and employees need to feel that you have a sense of purpose, to complement the company’s pursuit of profit. A higher purpose motivates people in a way that financial wins alone never will. For a company to thrive, it needs to find and broadcast its purpose in all that it does.
A great product or service as a solution is necessary, but not sufficient. If you want your company and team members to be seen as going above and beyond the competition, you need to include an element that adds social value or sustainability for the greater community. For example, Whole Foods is involved in efforts to safeguard the environment and ensure humane animal treatment.
Nearly 80 percent of customers say they are more loyal to purpose-driven brands than traditional brands and nearly three-quarters are more willing to defend them, or even pay a premium, according to the 2018 Cone/Porter Novelli Purpose Study. Here are eight specific steps for how you can add purpose to your company’s image and execution:

  • Step n°1 |

    Let your passion and skills define a mission you can love.

    Make sure you select a mission that adds shared value and provides a competitive edge, as well as playing to your strengths and interests. Assess likely industry changes and disruption over the next five years, and structure your business to lead the way with personal commitment.

    How to Instill A Sense Of Purpose In Your Startup image
  • Step n°2 |

    Become a thought leader early through social media.

    Today anyone with a purpose can test their message through blogging, Twitter, YouTube, Instagram, and many other channels. Every customer is looking for provocative thought leaders, such as Sir Richard Brandon and Elon Musk, who are able to challenge current issues with creative solutions

    How to Instill A Sense Of Purpose In Your Startup image
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