A business purpose, also known as a mission statement, is a statement that defines the reason why a business exists, its values, and what it aims to achieve. It concisely summarizes the company’s overall purpose and guiding principles.
“Believe in yourself and trust that you are on the right path, not being in doubt, following the myriad footpaths of those wandering about you.” – Seneca.
Seneca’s powerful words show us how clarity of vision and knowing the general direction of where we want to go, and where we want to be can guide us to a happy, successful life. These are great words for personal application, but they also apply in business.
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While so many others wander around us, the belief of being on the right path is fundamental to a successful business—the difference between businesses that carve a path, leading the way, and those that follow and imitate. But, to believe your business is on the right track, you must first have a clear vision of where you’re going.
Your business purpose, ambition, goal, B.H.A.G., or whatever else you want to call it is the compass that guides your business. The bullseye at which we aim our arrows. When we start a new business, we might power by setting our mission or vision statement.
Sometimes, these are just things on a checklist, something to do quickly and get on to doing the really important stuff. After some time, we may not even remember them. While these statements lay forgotten in the depths of a folder deep within our hard drives or gathering dust in some filing cabinet, we go about our business of doing business. Then one day, when the business hits troubled waters, we look up from our work and realize we don’t know where we are, where we’re going, or how we got there.
We’ve lost sight of why we started our business; maybe we never knew. So today, we will take some time and go through seven questions to help define that path for your business. These are fundamental questions that can help you define your business purpose. We ask these questions at the very start of every Brand Strategy project. The answer to these questions is one of the foundational pillars of designing and implementing a successful brand. So take time to answer each one truthfully and thoroughly. The answer you come up with will shed light on your path.
Seven Questions That Define Your Business Purpose
The following seven questions are part of three essential segments of your business brand puzzle. When we work with a client to establish a Brand Strategy, we go through these questions to better understand the Brand Why, the business purpose. The answers to these questions are essential to identifying the core purpose of your business. If you don’t have answers to some of these questions, it’s time to think hard about why you don’t. If you need help, don’t hesitate to get in touch with us to schedule a consultation.
1 – Why are we here?
The answer to this question should be a simple statement. Think about why you started this business. What problem are you solving? Keep it simple and to the point.
2 – What do we do, and how?
The nuts and bolts of the business. This answer relates directly to your process.
3 – What makes us different?
Your position in the market. What makes you different between yourself and your competitors? What makes your business unique?
4 – Who are we here for?
Who is your key audience? Who are your customers? Define who you want to be buying your product or service.
5 – What do we value most?
What are your fundamental beliefs? Think about the basic rules and values that affect how your employees act.
6 – What is our personality?
How does the business express itself? Think about the expressions, the tone of voice, and how employees communicate with the customer.
7 – What is our ambition?
In the long term, where do you want to see the business? These are goals that may take years or decades to achieve.
These seven questions and their answers are the tip of the iceberg for establishing a good Brand Strategy for any business. However, they will be an excellent start to achieving clarity and focus for your business purpose.
Take some time and think about these answers, and you will see a more straightforward path for your business. If you need a guide, we can help. Please feel free to reach out to us.