The power of purpose
December 12, 2021
It’s not what you sell, it’s what you stand for. In their bestselling book,[1] Roy Spence and Haley Rushing make the case that all extraordinary businesses are driven by purpose.
Purpose is the reason why a company exists beyond making money. But how to align the organization with its purpose? For Spence and Rushing, it begins with an inward journey: defining and articulating the difference that the organization is trying to make in the world.
For the authors, there are various methods for developing a purpose statement, ranging from “soul-searching” to “rummaging.” Why does the company exist? Why is it important to the people it serves? Why does the existence of the company matter?
Once defined, purpose takes the helm. It drives all major decisions. It creates a path to excellence, rallies people to achieve the impossible, attracts passionate people and helps incubate visionary ideas. It can provide a source of continuity in uncertain market environments. It injects a dose of reality into your brand. It contributes to a life well-lived.
But how can purpose serve as a basis for success? For Spence and Rushing, there are three key elements that need to be present in the purpose-driven organization at all times:
Making a difference from the ground up. This means that the organization has to find the thrill, have the will and ignite the passion of their employees.
Leaders who are passionate about the organization’s purpose. Purpose comes before profit; it creates alignment and allows the company to do what is right. Purpose needs to be a source of leadership and the main driver of day-to-day work.
Bringing purpose to the broader market environment. Purpose-driven organizations set the bar higher for their beers. They help mobilize stakeholders, create visionary ideas and prioritize objectives that are not solely commercial in nature.
Without a purpose, there is no heartfelt motivation or inspiration to drive innovation in a constructive and meaningful way. Innovation for innovation’s sake often results in wasted time and energy. Innovation designed to facilitate a core purpose, however, is where meaningful progress is made. And one of the building blocks of achieving superlative levels of performance.
CPM
[1] See Roy M. Spence Jr. and Haley Rushing. It’s Not What You Sell, It’s What You Stand For: Why Every Extraordinary Business is Driven by Purpose.
