The “why” of your business is more than just some shallow principle that you slap on your company mission and vision. The foundation of your business can make or break your enterprise. It is the very thing that allows you to combine your passion and your purpose.

How to Identify the Purpose of Your Business

1. Identify the top 3- to 5- core values of your business. What are the non-negotiable things that your company cares about?
2. Take a look at other companies you admire or feel inspired by. Keep in mind that they should be companies you emulate and not imitate.
3. Try this little exercise: assuming your company suddenly needs to shut down. What would you want your company to be remembered for? What is the kind of legacy you want to build and leave behind?
4. Assemble these values and compare them to the overall company purpose. At this point, you need to ask yourself, “Is this going to generate my business some revenue? Is this sustainable and profitable while effectively reflecting the values of my business?”
5. Try it out. Distribute the purpose to your employees and see if everyone understands it. If it does not feel like the perfect fit, feel free to make some modifications until you arrive at something that feels natural and comfortable.

The last step is crucial because it allows you to recognize that the purpose of your business can and will change. It is tempting to stay consistent, but some instances will require change. Your business may need to evolve to meet specific goals or values that everyone can partake in.

The Benefit Angle

Another way to identify and build the “why” of your business is to look at it from a benefit angle. The first step is to determine what your company does and its benefits to you and your clients. Then, once you have the initial benefit, ask yourself what the benefit of that is. Continue along this pattern of identifying the benefit of each use.

Here is an example.

You are a company that sells electric vehicles.

What is the benefit of that? It allows people to get from one place to another in a way that is greener and more environmentally friendly.

What is the benefit of that? This helps reduce pollution.

What is the benefit of that? It helps combat climate change to reduce our planet's negative impacts.

What is the purpose of your business? To create a sustainable mode of transportation that reduces harmful emissions.

Overall, it is vital to identify your “why” because this is the very thing that resonates with your audience. It is the dealbreaker that sets you apart from your competition. It is the key to a successful business that cares.

Personally speaking, the “why” of my business is to help small businesses increase their online visibility so that they may serve more people in their ways. My purpose is to empower every business so that they can do the world to the best of their ability.

To help you more about digital marketing, I need you to check this ebook I've created about the 10 things that I'VE WISHED I had known when I started marketing. If you are or are not in the same place, you must read this. Get the ebook here. 

If you want more up close and personal marketing strategies, advice, or an overhaul of your marketing structure, email us at zack@roimf.com or schedule a call with Zack now.