Purpose is the Why of what they are doing.
Yes, everyone is in business to make money, that’s a given. It’s exciting and it keeps us alive. Business does not exist without profit. But – business leaders, teams and customers have found that profit for its own sake is not enough own.
Finding your real Why – what it is that gives you passion to do, what you love to do and believe in – is your personal Why. Knowing your personal Why gives you the drive, resilience and inspiration to get through all the ups and downs of the entrepreneurial journey and build a great company.
Great founders are driven and sustained by their Why. Entrepreneurs that lose touch with this burn out, can become flat and overwhelmed. Overcome by the workload and stress, they can lose focus.
Entrepreneurs that know their Why will (ironically) make more money and enjoy the journey along the way.
Entrepreneurial companies are increasingly seeing the benefit of adopting a clear corporate purpose as a point of
difference. It makes it easier to hire and retain great staff, and attracts customers. Numerous studies show that
companies with a clear purpose have better returns over time.