People who run purpose-driven businesses want to change the world —for the better, whether they’re focusing on literacy, the environment, meditation, merchandise —or an unlimited array of businesses that aim to shift the way we’re living. Their businesses don’t just sell things. They serve as engines for change, forces for good.
And most often, there’s no monetary trade off. In fact, some studies, such as this one in the Harvard Business review, show that purpose-driven businesses grow three times faster than their competitors while also keeping their staff and customers satisfied.
Why? Customers want to feel like they’re supporting and participating in businesses that are helping us. As Deloitte Insights states, “Purpose is Everything.”
Purpose-driven businesses share basic traits:
- They articulate why they exist,
- They spell out what problems they solve.
- They share their mission widely.
They focus on three main objectives:
- They tell stories that illustrate their purpose and help connect with their audiences.
- They reach out to their natural customers: those who want to change the world in the same way. Buying from a business that shares your values, also happens to feel great.
- People who run these businesses live and breathe their missions, striving to make an impact far beyond commerce. In other words, their work doesn’t begin and end with commerce. They’re often evangelists for their causes, and they’re always passionate individuals.
If this sounds like your business —one that wants to solve problems, share stories, and take conscious steps towards changing the world — then clearly, you run a purpose-driven business.