The book, “It’s Not What You Sell, It’s What You Stand For” by Roy Spence, explains that businesses without a purpose that improves peoples’ lives, and contributes to the greater good, will struggle to be successful. Some might think that focusing on purpose would limit the company, but in fact with the constraint of purpose in place, employee engagement is higher, competition is less threatening, customers are more loyal and innovation flows.
“With a purpose in place, decision-making becomes easier. All challenges, opportunities and threats are examined through one unifying worldview. Any opportunity or challenge can be seen through the lens of your purpose. You can ask yourself, “If this the right thing to do given our purpose? Does it further our cause?” Creativity isn’t a result of thinking anything is possible. Creativity comes from constraints. The constraint of your business purpose will open the floodgates of innovation and creativity. Innovation designed to facilitate a core purpose in new and exciting ways is where meaningful progress is made. How can you deliver your purpose in new ways? How can you translate your purpose to new audiences? Purpose will guide the creation of products, services, and experiences that matter to people and face the realities of the current market situation and address them with powerful and persuasive messaging. Purpose will widdle down everything the company is doing and only focus on what is most important.”