A large majority of successful startups were founded with a purpose that acted as an integral aspect of the business plan. This is likely because of how truly powerful a purpose can be, and by basing a business on an owner’s passions and strengths, there is often a lot of drive to succeed and fulfill that purpose.
But, what about the businesses that are lacking a purpose? These businesses might have experienced nominal success at first; however, without a purpose to help support and shape the goals of the business, success can quickly screech to a halt. Some less-experienced business owners might write the business off as a loss and call it a day, but there is still hope. Although not ideal, one can bring purpose into the business even after it has already begun operations.
Before any business begins to reshape around a purpose, the owners should consider a variety of points:
What do our customers truly desire? What do they need?
Focusing on the true needs and wants of the target market (not just the wants and needs of the owner) is one of the first steps to determining a business’s purpose. If the customers’ needs and desires are not being met, chances are they will not stick around for long.
What unique talents do we bring to the table?
A business is only as successful as the people behind it. What are the owner’s talents and perspectives that only he or she can provide? What are the strengths of the top workers?
Some business owners feel as though they need to go much deeper than this, but in truth, most purposes are fundamentally simple and straightforward. Where passion, desire and talent meet, a business’s purpose can be formed.