Why Businesses Should Be Purpose Driven
Jan 5, 2021 5:42:00 AM / by Sustainably Run
More than ever it is essential that businesses are not just “businesses” but that they are businesses with a purpose. It’s vital to focus on what good you can do and bring to the table as a company and business owner. Take the time to learn more about what a purpose-driven mindset is and the reasons your business should commit to it.
A Purpose-Driven Mindset
With a purpose-driven mindset in business, you are focused on doing what’s best for the greater good and humanity. You know that the changes you make today can have a long-lasting impact on future generations. It’s likely you also live a passion-driven life if you have a purpose-driven mindset and combined with emotion, you’ll be on your way to achieving your goals. It also means that as an entrepreneur, you progressively continue to concentrate your capabilities and resources on creating solutions that alter whole markets and industries.
As a company and business owner, part of your job is to work toward improving the environment and the world around you. Consider your company’s corporate social responsibility (CSR) and environmental, social governance (ESG) policies and see where you can do an even better job of fulfilling these goals.
Reasons for Driving Purpose into Your Business
Driving purpose in your business isn’t for nothing. There are reasons that you should do so and that will help you succeed in the long-term. For instance, you may choose to be purpose-driven to set yourself apart from the competition, achieve and have higher productivity and growth rates, and a more satisfied workforce that’s likely to stay with you for the long haul.
You must be committed to running a purpose-driven business, especially during uncertain times such as the onset of COVID-19. It’s all about having an authentic and integrated commitment to a purpose that’s bigger than profitability and expansion. There are ways to run a socially responsible business and still reach your core objectives for your company. It’s about doing good when no one is watching and because you want to. This is the type of dedication that gets recognised and rewarded.
Ways to be Purpose Driven
There are many ways to be a purpose-driven business and to differentiate your company and succeed. For instance, it may be that you’re committed to a social purpose and making a social impact, or having an environmental purpose and making a positive environmental impact. It may also be that you choose to modify your habits and behaviours by implementing sustainable business practices. Take a step back and look at and evaluate how you operate and where you see opportunities to do better and improve. There may be a charity or organisation you feel strongly about helping or maybe you begin recycling and reducing energy use in your business.
The reality is that “When your business has an important mission at its heart, you will have more power to attract talent, valued mentors, investors and customers” (Entrepreneur).
You should now have a better understanding and grasp of what a purpose-driven mindset is and why it’s important. You’ll be able to position your company as a leader in your industry and business community when you’re focused on the right aspects that will ultimately lead others and have a positive impact on the greater good.