You did what most people dream of, but never actualize. You started your own business.
So what separates you from the dreamers? Is it your talent? Your ambition? No, it’s something deeper than that.
I want you to think about why your business exists.
Think beyond the product or service. You wouldn’t have started your business if there wasn’t a demand or need for it.
There is a reason you started this business beyond logic.
This reason is your passion.
And that is more powerful than money.
Passion trumps money.
It’s true. Money is an extrinsic motivator. That’s a five dollar word meaning anything that provides validation outside of ourselves like a reward or avoidance of punishment i.e. getting money or going into work to avoid being fired.
It is proven that this type of motivation can only inspire us to attain a certain level of success and once it’s reached we will eventually plateau.
An intrinsic motivator on the other hand is about self-actualization and enhancing one’s esteem or fostering one’s passions or interests. This type of motivation is fulfilling. It can keep you motivated exponentially. Continuously pushing you to reach for new and increasingly ambitious goals.
Your “why” is intrinsic. It will fuel you to perform better for longer and even encourage you to persist in difficult times.
Do you know your "why" and how to use it? Contact us. We can help you connect with your target audience and turn your passion into profit.
Book a free 1-hour Breakthrough Consultation with us.
So how do you find your “why”?
Think of one of your core values that is vital to your business’s existence. This core value can be small or big. Think big like save the world. Or on a smaller scale: be a little greener or more socially conscious.
This value is why your business exists and why it’s different from your competitors. No one can replicate your passion or “why.”
Once you’re in tune with your “why” you need to use it to your advantage. This is where your mission statement comes in. We know that having a “why” is important, but if you’re not marketing it, it can’t serve you.
Most marketing is focused on relating to the public with an outside-in approach. For example a traditional ice cream company will want to market their fine ingredients or superior taste to consumers. They put the “outside” (its product and obvious benefits) first before relating “in” (their mission or perspective).
But the smarter business will market inside-out.
This means they’ll incorporate their “why” before their what.
For example, Ben and Jerry’s market socially conscious ice cream. It’s made with brownies from Greyston Bakery. This bakery is committed to non-discriminatory hiring and advocates for fair work opportunities for previously addicted, homeless, or incarcerated individuals.
And that’s just one of the social causes they highlight. The company puts social, environmental, and political issues in tandem with their product. They want consumers to know what they care about just as much (or even a little more than) what they taste like.
That type of “why” driven marketing is aided by having a strong and clear mission statement.
Think of the statement:
My business exists to...[blank].
Fill in that gap over and over with different variations of your value (or "why) until you get goosebumps.
You want your “exist” statement to feel like a mantra. It's succinct and powerful. You should think about it whenever you’re making a decision or resolving a conflict. This statement answers why you started your business.
It is important to make your mission clear.
Whole Foods Founder, John Mackey, made a strong case for conscious capitalism. Or you can think of it as “why driven” marketing and operating.
His mission was to make corporations adhere to a higher code of conduct that valued the environment, consumer, and worker in every step of production and operation. For a while this led to a spike in spending with businesses that were seen as socially conscious (i.e. TOMS buy one donate one philosophy or Ben and Jerry’s social advocacy).
Lately, however, according to the Conscious Consumer Spending Index across categories consumers are feeling more disheartened and cynical that even conscious companies aren’t making enough of an effort. And the extra expense on their end isn’t making an impact. This same study also showed a lack of understating of who was a conscious company and how you operate to be one.
Bottom line: make your mission statement clear!
If people can't tell you're a conscious business and operate with a "why" in mind, you won't win their business.
Your “why” was powerful enough to start a business. Make it the driving force in the way you talk about and present your business.
Make sure conscious consumers know exactly what makes your company different.
The more transparent your “why” is in your approach and presentation, the more likely consumers are going to stay loyal to your business and it's mission.
If you’re struggling with finding your own “why”, or want your business to function to serve the “why” better, let us help.
We’ve helped many clients identify this important and unique “why” and build goals around actualizing it.
Let’s get started today.
If you are having trouble knowing exactly where your business should be going or what you need to make your journey successful, we can help!
Book a free 1-hour Breakthrough Consultation with us.