Whether an individual’s purpose comes naturally or someone has to spend years of work and self-reflection to discover it, purpose is often an intensely personal aspect of one’s life. While that purpose might lead someone to establish his or her own business, it might not always be clear how to weave that purpose into a business.
Finding the best route to build a business that reflects a personal purpose often starts in the business plan. Consider the three big Ps — product, profit and purpose. A solid and well-defined business plan will address all three of these, the most important of which is purpose.
Think about it, what leads a business? The answer to this question: The mission statement. For entrepreneurs, the mission statement should be where they find their own purpose mirrored back to them. If the mission statement is focusing on any of the other Ps, then it has missed the mark, and it is time to go back and revise. Potential investors and future customers want to know what a business is actually striving to achieve and how it intends to affect the lives of those linked to it.
The mission statement is more than just an airless claim — it is the heart and purpose of a business.
Things like products and profits come secondary to purpose because there can be no sustainable growth, product development or growing profits without the focus, drive and heart that an intertwined personal and business purpose will inspire.