I start conversations with prospective clients with the question “what is your purpose?” and the answer is often “to make money.” That is not a bad answer. Every type of business exists because they make money. The more money they make, the more they can do. And, no, it doesn’t matter the type of business. Every type exists because they make money. However, profit is not your purpose.
My favorite part of my process is when those same business owners realize their true reason for being, or purpose. The reason they created the business they did, the reason people chose to follow them, the reason life is better because of them.
Spoiler Alert: It is NEVER to make a profit.
The Business' Purpose is much greater than what you think it is. Purpose is the reason you exist. The reason people follow you. The reason you make the world a better place.
Jim Collins teaches us to focus on what we do better than anyone else and to live in our purpose. When you do, the money will follow. Simon Sinek teaches us a similar concept in “Start with Why" and life will be a bit better.
I have an example of a business who lived through two owners (to very different owners.) The first focused primarily on the money. It drove every decision. That business had customer complaints, a not-so-great-culture, and it wasn’t financially healthy. The second owner focused, without knowing it, on their purpose – to enrich the lives of those around them. Every decision was made with the team and client in mind. Every client came first. No matter what, they focused on impacting the client in a positive way. That business has had the best year ever. It is healthy; culture is improving and profit is beyond expectation.
I am not saying to not focus on the financial health of the business. I am saying profit is not your purpose. Live your true purpose and do what you do better than anyone. The profit will come. It might be hard work. You will have to find things to measure to ensure you are doing good work. But when you make decisions solely on profit, your organization will eventually suffer.
Your purpose is the reason you team wants you to have profit!
Do you research. I don't want to call out specifics, but there are plenty of "history making" stories where this is true. When payout or profit is your business, your decision-making takes a turn that is not positive for your team, your clients or your reputation.
If you would like to learn more, start a conversation with Heightened Leaders. www.heightenedleaders.com