Purpose, Perspective, People
As business owners, entrepreneurs, and executives, we often get so caught up in our never-ending to-do list that we forget there was a reason we embarked on this journey in the first place. I know I’m guilty of it. So I want to take a few minutes to forget the tasks, the profit margins, and the optics; and go back to the basics.
Let’s talk about purpose, perspective, and people; or the why, how, and who of your business.
Purpose
Peter Drucker famously wrote in The Practice of Management, “that the purpose of business is to create and keep a customer”. But that’s not really true.
The purpose of business is to create and keep purpose.
You see, your purpose is your why. Why you took the risk and started your own business. Why you work hard, day-in and day-out. Why you hire more people, rent that extra office space, and buy that ad spot. The why is the heart of your company.
Your business was built to do one thing, and it’s not to sell a product or provide a service. Your business was built to make people’s lives better by solving a problem. The companies that understand that and can get people to rally around their why, regardless of what they actually make and sell, are the ones that naturally experience growth.
People are innately drawn to companies, products, and ideas that are built upon a solid, easily communicated purpose. The way a company views its purpose is tremendously consequential, not only to bottom lines, but to the value it seeks to create; it defines what the business is and does, whom it serves and how it contributes to the well-being of society.
Perspective
While purpose is your why, perspective is your how. How you view your company. How you communicate that vision to your employees and your customers. And most importantly, how your customers perceive your brand, your product, and the value it adds to their life.
Did you take a moment to consider your why? Good, because it will be important to keep in mind as you consider your how.
Amidst the often chaotic process of running a business, it can be easy to forget one crucial piece of information; we work with humans to create products sold to humans, and part of being human is that every single person’s perspective is completely different. Our past and present situations, choices, values, and priorities all come into play when we come to work, when we shop, and when we use a product or service.
Businesses that value perspective in their company culture experience higher levels of collaboration, resiliency, and market adaptability.
Let’s break down the three most important pieces of your how:
1. How you view your business.
Self reflection is hard to do but a skill worth developing. Take a hard look at your own perspective, bias and all and start to be intentional about how you want to be seen, valued and remembered.
2. How your staff views your business.
How many of your staff can say what your company cares most about in one sentence? As the owner, do you drive the company culture or allow your staff to define your image and brand?
3. How customers view your business.
What are you known for? What value do your customers perceive in your product or service? If you could write your ideal customer testimonial, what would it say?
People
While technology continues to become more integrated in every aspect of business, the most important asset at your company isn’t technology. It isn’t materials or manufacturing equipment, it’s not data, and it isn’t intellectual property. The most valuable aspect of any business is people. The fact is, the human element remains your most important business resource.
Your people are your who. Who you recruit. Who you hire. Who you retain and promote. And, sometimes, who you let go.
Think of all the most successful, innovative brands you know: Google, Starbucks, Facebook, Southwest Airlines, and Zappos are just a few. The common thread across all of these companies is that they have embraced the idea that happy employees are productive employees. They also know that happy employees make the best brand ambassadors; not only are their staff more productive, but they’re also a free source of positive publicity.
Unfortunately, today’s business leaders are running at full-speed just to keep up with the day-to-day demands of running a business. This means that, oftentimes, the most important business asset for growth and development - human capital - is underused and underdeveloped.
Understanding the value of your people and developing happier, more productive employees, is critical to your brand’s success.
These three elements are so critical to the underlying reason your business exists in the first place, but often get overlooked when you’re in the midst of the day-to-day grind. Periodically take a moment to consider whether your purpose, perspective, and people are in line with your business goals.
Putting the who, why, and how at the center of everything your organization does will enable you to create - and communicate - a more credible, sustainable, consistent, and relevant brand.
Solomon Advising is a marketing & branding agency focused on helping professional services firms retain their relevance and ensure sustainability by consistently promoting a credible brand. Contact us today to see how we can help improve your brand’s health.
