The basic factor for your business strategy’s success.
Have you asked yourself if your career or business is fixed on a purpose greater than profit? Do you consider this to be something important?
This is relevant for businesses and entrepreneurship in general. Having a defined purpose makes you more likely to surpass the success rate, which shows that only 5% of companies remain in business after 5 years of being established.
An important thing to consider is the existence of two types of organizations: those who chase profit and those who seek to fix a specific problem.
Both are successful organizations. But the ones that go beyond regular boundaries are those who have a clear motive for their creation; and all products or services they offer are always linked to a sole purpose.
The goal for this blog post is to educate people on how important it is to build that foundation & share our insight on the use of effective digital marketing strategies, specially for those who have decided to pave the way of their own business and put their knowledge to a test.
Based on the concept of Simon Sinek’s book “Start with Why”, the secret that sets apart companies who have changed history, such as Wal-Mart, Apple, Google, Microsoft, and Facebook, is that all of their activities portray the reason they were conceived by their founders.
On the other hand, there’s information that suggests these companies have affected communities in diverse scales when derailing from their original plan.
A well-known example in Mexico is drug stores opening in various locations in the country. This makes you wonder if their true motivation is providing people with better access to pharmaceuticals, or if they have found a more profitable business model through drug sales and complimentary product lines.
According to Sinek, this is due to leaders losing their internal compass that points to their company’s purpose. In other words, they are organizations that have chosen financial results over solving an issue for society.
As a business founder, knowing your “why” allows you keep a clear mind when doubts or uncertainty arise; and it’s a great help for decision making as well.
Chasing a purpose goes farther than anything tangible, this allows you to add a new dimension to your life. For example, writing these lines allow me to share my ideas with people that are interested in learning marketing and business strategies.
What current topics are you interested in exploring and solving in order to create value for a group of people?
What’s difficult is understanding your purpose: now is the time to think how you can create a business that, based on that idea, will be viable in the long run.
A good way to start is defining your potential client’s profile via online searches or direct conversations in order to find out their opinion on your solution.
Analyze your answers and come up with new topics which you can improve on or explore. It’s possible you might find the opportunities you are looking for.
Share the project you are currently working on. Your experience is very important for the community.