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When you embark on the business owner journey, you're not just starting a business; you're setting out on a path that can profoundly impact your life and the lives of others. While pursuing profit is undoubtedly a key motivator, something even more powerful can drive your entrepreneurial spirit: finding purpose in your business.
Your "why" is your mission, your guiding star. It's why you get out of bed each morning with determination and passion. Studies prove purpose drives the sustainability behaviours of a team through a process of psychological ownership.
When you embark on the business owner journey, you're not just starting a business; you're setting out on a path that can profoundly impact your life and the lives of others. While pursuing profit is undoubtedly a key motivator, something even more powerful can drive your entrepreneurial spirit: finding purpose in your business.
Your "why" is your mission, your guiding star. It's why you get out of bed each morning with determination and passion. Studies prove purpose drives the sustainability behaviours of a team through a process of psychological ownership.
Pursuing Passions:
Passion is a potent fuel for business. It keeps you energised, creative, and dedicated to your craft. Consider your passions and hobbies – they could be the seeds of a successful business idea. Many people have turned their deepest interests into thriving ventures, proving that doing what you love can be fulfilling and profitable. Kirsten our founder was one of those people; when a new hobby of making a soy wax candle (when no one had really heard of them) turned into a 12 year passion project stocked in over 600 stores and exported to Greece and the USA.
Impactful Entrepreneurship:
Purpose-driven businesses have the potential to make a significant impact on the world. They often strive to solve pressing problems or contribute positively to their communities. These businesses not only focus on profit but also on creating a better, more sustainable future.
Overcoming Challenges with Purpose:
A strong sense of purpose can be your fog lights when navigating the inevitable challenges of entrepreneurship. It provides the resilience to persevere, adapt, and learn from setbacks. With a clear sense of purpose, you'll find it easier to weather storms and emerge stronger.
Tip: remember this also means understanding what your purpose IS NOT.
Building a Purpose-Driven Brand:
Communicating your purpose effectively is key to building a purpose-driven brand. Your purpose should permeate your company culture, products or services, and marketing efforts. A brand with a clear and authentic purpose can forge deeper connections with customers and inspire loyalty.
Measuring Success Beyond Profits:
While financial success is undoubtedly important, consider measuring your success by other metrics. Are you making a positive impact on your community? Are your employees thriving and fulfilled? Businesses prioritising these aspects often find greater fulfilment and purpose in their work. When times flatten; remind yourself that Rome was indeed not built in a day, remember where you are in the lifecycle of your business. Starting out?
Well, if you are struggling, you are right on schedule (remember to book with us) and if you are in a plateau, are you breaking even and paying staff? Well you are employing people, paying tax (supporting your country) and putting money into your retirement (super) so there can be a silver lining in the best and worst of times.
Finding balance:
Balancing purpose with profitability is essential. Pursuing your passion should not lead to burnout or financial strain. Strive to strike a harmonious balance that allows you to fulfil your purpose while sustaining a thriving business.
Finding purpose in your small business can be a transformative journey. It's about aligning your values, passions, and goals to create something meaningful and impactful. When profit becomes a byproduct of your purpose-driven efforts, your entrepreneurial journey becomes financially rewarding and deeply fulfilling.
Remember to explore your "why" and let it guide you toward a more purposeful and meaningful business.
Don’t forget, if you need help- reach out. Everyone needs help sometimes, it doesn’t mean you aren’t great at what you do- it just means you are indeed human like the rest of us!
Sources: https://rdcu.be/dl1gm
Interested in boosting your marketing or learn more about how to amplify your Digital Media efforts? Check out the Digital Solutions Program, based in Victoria, the program is for eligible small business operators and we are very humbled to be mentors for the program. You can check it out here: digitalsolutions.