Why is Purpose essential to your Business?

Purpose in business has gone from a ‘nice to have’ to a ‘need to have.’

7 years ago when I told my brother I was developing an online course using meditation to help business people define their Purpose and translate it into an authentic Brand Story, he naturally thought I had gone mad. And so did a whole lot of other people.

Today I get a very different reaction.

Purpose is now on the business radar, and interest is growing. Today I am speaking at an event to explain why I believe business Purpose is a fundamental, not a fad.

I argue that Purpose inspires people to do incredible things, and it attracts like-minds to your cause. I point to how important it has become to the younger generation; the people who will buy from you and work for you – now and into the future.

But there’s one argument that really gets business leaders listening: Larry Fink says it’s essential. Given that Larry is the CEO of BlackRock, the world’s largest ‘Shadow Bank’ – with $6.8 Trillion under-investment, business leaders are listening.

Here’s what he wrote in his letter to CEOs in January this year:

He went on to say; “Companies that fulfill their purpose and responsibilities to stakeholders reap rewards over the long-term. Companies that ignore them stumble and fail.”

Have you defined your Purpose? Is it authentic and from the heart? Have you shared it with your people, customers and business partners?

If not, now would be a great time to get started on it. The Christmas break gives you an ideal opportunity to develop your Purpose and Mission for next year.

If you need help defining your Business Purpose, please use this link to arrange a complimentary 20 minute discussion with me.