Finding Your Company’s Purpose In Just 6 Steps
Innovative companies usually develop a clear and a compelling sense of purpose. People often believe that’s their secret mantra. “Truly transformational teams combine their ambitions to their passion and their purpose,” said John Doerr in his 2018 Ted Talk.
Imagine starting a business without a mission and clear goals set. Even if your product is decent, you would not be able to venture very far. Identifying your purpose and committing to it is what a company must prioritize. It’s like following the North Star when you are helpless and lost. The brightest star, i.e., your purpose, not only helps you reach your destination but inspires your team as well.
A company’s mission serves as a launchpad for its objectives and key results (OKRs). An OKR is described as an empty vessel made up of a team’s whats and hows. What matters is the reason that we pour into those vessels. Not gonna lie, this sort of sounds like a zen master’s wise saying.
Let’s take the example of Google and the services they provide like search, Gmail, earth, and android, etc. Their mission or “purpose” is to “organize the world’s information and make it universally accessible and useful.” If we take their functionality factor, google connects everything making life simple for their users. Mission completed!
The benefits of determining your company’s mission are undeniable. The question lies in finding its purpose. Let’s make room for reflection and start writing down your values. Look for patterns within your success and failures. This can be pretty challenging, but lucky for you, we have some tips and strategies to try out!
A 6 step process to find your purpose.
Step 1: Outline your company’s core values and find what your company cares about the most.
Step 2: Consider other companies and emulate their ways. (Do not imitate).
Step 3: This might be hard to imagine if you’re an optimist but give it a try. Assume your company went out of business. What would you want your company to be remembered for? This might give you an idea of what you value the most.
Step 4: Find out what goals matter the most to you.
Step 5: Put these together and discover your overall purpose. We all know that money is essential to keep the business going. So the next step should be finding out if your drive can transcend revenue. Purpose can be aspirational, but it must be realistic.
Step 6: Stand by your purpose. Please make sure everyone in the organization understands it and resonates with it. If it does not fit, change it until you find the one.
In case you’re still uncertain about it, here’s another route you can take.
For instance, if your company sells vegan products, keep finding the benefits of it.
Purpose: We sell vegan products.
What’s the benefit of that? We do not harm or kill animals.
What is the use of that? It will lead to fewer animals bred for killing.
What’s the benefit of that? It will ensure lesser methane emissions into the atmosphere.
What’s the use of that? It will reduce the contribution to climate change and minimize harm to life.
What did you get? Your purpose. To provide a life-sustaining alternative lifestyle.
Now that you have ways to find your company’s purpose do not waste even a single second. Getting started is the first step. The day your business reaches new heights, you can confirm that your purpose has brought meaning to you, your stakeholders, and your customers.