Employees + Individuals
Individuals and companies who don’t know their ‘why’ will fail. If you do not know who you are or why you do what you do, you cannot expect others to care about your brand, products and services. People don’t engage with ‘how’ you do something – the loyalty starts with ‘why’ you do it. Customers, the community and all employees need to know a company ‘why’ and be able to share the story behind why a company does what it does.
Do you know who Simon Sinek is? You should. Other than having the third most watched Ted Talk ever, he is a ‘why’ guru and we believe in the ‘why.’ Why is this so important? Your ‘why’ is what people will follow…as a company or as an individual. (Please take 20 minutes to watch this video)
‘Why’ can be stated as purpose…Harvard Business Review and the EY Beacon Institute surveyed 474 global executives to look at the business case for purpose. The majority of executives agreed that purpose is important – truth is that fewer than 40% of the executives surveyed said their company had actually articulated a strong sense of purpose. Millennial issues? Get them to buy into your ‘why.’ Turnover? They didn’t believe in your ‘why.’ Culture issues? ‘Why’ is a part of that as well. One bad day can create a meltdown. Don’t know your personal ‘why?’ Trials in your life can shut you down completely.
The ‘why’ creates confidence because you know why you’re doing what you’re doing, even on the tough days or through the tough years. Why inspires, encourages and guides. When you know your ‘why,’ corporately or personally, winning is around the bend.
Purpose-driven companies grow faster.
Fifty-eight percent of companies with a clearly defined purpose have experienced growth of 10% or more over the past three years, compared with just 42% of companies where purpose is not well understood or communicated. Companies with a clearly defined sense of purpose are up to 50% more likely to successfully expand into a new market.
Purpose makes a difference to employees.
Without a doubt, meaningful work brings employees fulfillment. Employees are the most important sponsors who communicate your company’s purpose. That makes sense—the company starts with its employees, who spread its message to customers and suppliers.
Purpose increases customer loyalty.
Your company’s mission and values make a difference to customers. Eighty percent of executives surveyed agreed that “an organization with shared purpose will have greater customer loyalty.” Increasingly, brands are taking stands to let their customers know they care.
Purpose matters to millennials.
The spending power of millennials grows every day as the world ages. Research from Enso suggests 68% of millennials care about social issues compared to just 42% of their baby boomer generation counterparts.
Individuals miss opportunities and fail to fulfill their purpose because they do not know their ‘why.’ Once they have established their why, they may not have to ability to share their own stories that give them value. Stories have purpose and can share specifics in a way that people and consumers remember them. People remember stories – especially good ones. Share what your brand is all about – your core brand values, purpose, beliefs and mission. You must stand out by telling the right story, the right way at the right time on the right platform. Successful brands ask themselves why – Why do you do what you do? Why do you get out of bed every morning? Why should anyone care? Without purpose or direction, the wrong decisions are made, legacies are lost, and opportunities fade. Your own why should inspire you, your family, the companies you serve and colleagues.
Strong brands, like influential leaders, are built