How to Fundamentally Transform Your Business Part 3: Purpose
Our third post in our Transform your Business series focuses on purpose. We’ve already covered how vital both an aligned vision and shared set of values are, but now it’s about really thinking about what drives your company. What gets you out of bed in the morning?
(Did you miss our past top tips for fundamentally transforming your business? Check them out here and here.)
PurposeA sense of purpose is absolutely crucial to the health, efficiency and alignment of any business. It creates motivation and positive energy and compels people to help fulfil your vision.
When it comes down to your purpose - you either have a burning desire or you’re standing on a burning platform - one or the other. If you’ve got neither, then don’t read on as in all honesty you’re probably never going to succeed.
So now you’ve (hopefully) worked out what gets you out of bed, you need to succinctly communicate this to everyone around you and see if they buy it - shareholders, investors, employees, suppliers, clients and everyone involved in the success of the business.
Watch out for greed and watch out for fear. These are two really obvious reasons to be compelled to do anything, and they work well, but they have consequences in terms of the culture you create.
Fear can create uncertainty and inevitably stress. It’s hard to have an organisation that communicates openly when everyone is afraid of failure or the consequences of not being perfect.
A Gecko said, “Greed is good,” and it can be for some people, but surprisingly money is not a major driver for most people and certainly no one wants to work with an organisation that is clearly greedy. If wealth generation is your purpose then expect to be used by people who equally wish to attain wealth - at all costs. Greed is a slippery slope.
Fear and greed, driven by the ruthlessness of detached shareholders, are very common motivators within PLCs. That’s one of these reasons why there’s so much politics and ‘arse covering’.
It’s much better to be compelled by a burning desire, to want to truly achieve greatness in whatever it is you’re doing. Just remember that as an individual and an organisation you really are making changes to the world, no matter how humble you are. Start from there and elaborate.
- In this series of blog posts, I’m going to give you some awesome insight into what some of the biggest organisations still fail to do effectively, and give you the five top tips to fundamentally transform your organisation.