Leadership Purpose: Defining The “Why” For Your Business

You win when everyone knows your purpose. It is not enough to be busy, so are the ants. The question is: why am I busy? Having a clear purpose in what you are doing enables you convince the world that it is richer with you than without you, which in turn helps build your reputation. Even before you set out to write a business plan, you must answer these two fundamental questions: (1) Why do I set out to do this business and (2) What do I want to achieve at the end. Your answer will quickly prompt other questions; such as the following: Will the business be my principal career activity and primary source of income or a secondary pursuit? Am I launching it as an investment to sell as soon as I can? Or, do I envision something more permanent? Will it be a family business, and is providing jobs to family members as my primary motivation? Answers to these and related questions will have an impact on the business’s aims, its development, and its strategies.

A business that knows why it exists, instead of just what it produces, can take a long-term view, spot risks and seize opportunities. You are able to give your company a clear sense of direction that keeps you focused and inspire your employees. Being clear about why you are in business makes it easier to attract customers and investors to your business. If the employees share the vision of the company, they will be more motivated in their work. Having a purpose keeps you focused on what is important and stops you from getting sidetracked. If you know why you are in business, it is easier to create a marketing strategy.

Remember, your business purpose should be a direct link to achieving your business vision. A vision reflects what your business is trying to achieve and what you care about most. Defining purpose (or mission) expresses what the business does. Vision expresses what the business aspires to become. It drives the business forward toward its long-term aims and often is created from the fundamental values and aspirations of the business executives, the stakeholders and as well as the purpose and awareness of the business’s current environment. Some experts describe vision as “the glow of light just over the horizon; you may not reach the light, but you continue to march toward it.” Vision is about pursuing challenging but achievable goals within defined time frames. It is simply a statement of your desired competitive position within your best guess of the future environment, for example, “Our fast food joint will be the very first place people come for…” Realistic visions can be achieved and almost always bolster staff morale. Once your vision is reached, you can further expand your aims.

So, as an entrepreneur, you should not only define the purpose of your business but also have the vision – a crystal clear picture of the desired future you hope to see and achieve. Make 2021 a year of definite purpose and vision for your business.

Action Exercises:

• Think about why you are in business? How does what you do matter?
• What specific need is your business solving in the marketplace?
• Why should a customer buy from you instead of your competitor?
• Talk to your employees – what do they understand is the purpose of the business?

About the Author

Dr. Elvis Ukpaka is a Leadership and Peak Performance Expert. As a renowned management Consultant, Trainer, Speaker, and Coach, Elvis has helped transform the leadership direction for most corporate organizations, businesses, governmental bodies, religious bodies, schools, and individuals through his leadership empowerment programs. Elvis holds a B.Com (Hons.) Marketing from Wits University, Johannesburg, South Africa; Master’s degree in Organizational Leadership from Regent University, Virginia Beach, USA; and Doctorate degree in Strategic Leadership, from Regent University in Virginia Beach, USA. Elvis is the Lead Consultant at Visiondrivers Management Consulting – a leadership consulting firm based in Lagos. To reach Dr. Elvis for speaking engagements, trainings, one-on-one coaching, and consultancy, simply call: +234 810 654 5127, +234 817 123 5284 or visit www.elvisukpaka.com, Email: info@elvisukpaka.com