How to Build a Purpose-Driven Business

You’ve got your business plan, you’ve started developing processes, and you know what people you need in the seats. But wait. Have you decided what your business’s purpose is? Really, what is the purpose of your business? Some might say, “to make money.” Others might say, “freedom over my time.” This is all fine and good, but that’s more your “why.” What I’m getting at is if you’re a purpose-driven business and whether or not it’s driving all you do. 

I have a ton of experience with building companies, and what I’ve found is the ones in which I’ve had a clear purpose are the ones that have survived and thrived. At StringCan our purpose is to help businesses dedicated to improving people’s lives expand their digital reach. We’re laser-focused on this, and it’s the driving force behind everything we do. 

Think of your business purpose as the backbone of your company. It should provide the storyline for your brand and inform your strategy. Your purpose should dictate how you market your products or services, and it should fuel your internal culture. It’s also the North Star for how you hire, and how you make your decisions every single day. 

How do you actually make your company purpose-driven? Here are some tips for business owners about how I’ve been able to do it, and how you can too. 

1. Start with your company values. 

I don’t mean poetic, abstract values, I’m talking about your actual values. What governs your life? What matters to you? 

If you’re not sure, you’ve got work to do. One way to find out what you value is by looking at two things: 1) Your calendar, and 2) Your bank account. What you spend your time and your money on is almost always what’s highest on your priority list. 

Are you on the boards of four nonprofits, and constantly donating to philanthropic causes? Giving, and making a difference to others, matters to you. Do you volunteer at your child’s school, and pay money for a housekeeper so you can spend more time with your children in the evenings? Time with your family trumps everything to you. 

Figure out what your top three values are in life. Then find a concise way to articulate them. Don’t skip this step. You’ve got to be able to quickly summarize your values in order to make them the key pillars of your company. 

2. Use your business purpose to drive your hiring process. 

Businesses don’t exist in a vacuum. You can be all-in on your values, but it’s not going to do a thing for your company if your employees aren’t also. If your current team is strong, great! Nothing will help you succeed more than a strong team you can rely on. Your hiring process needs to reflect your obsession with the people you bring on board. Your team must be excited about your values, or your purpose won’t drive anything. 

For example, let’s say “well-being” is one of your values (as it is for us at StringCan). Health, nutrition, and fitness matter deeply to you. But your staff rolls their eyes when you offer a mindfulness workshop and grumbles when you invite them all to a group boxing class. They’ll never be able to sell, promote, or embody that value – and poor sales will reflect this. You need people who are just as excited as you are to eat that kale salad, practice that new meditation technique, and hit those punching bags. 

When you go to make your next hire, include pointed questions during the interview about your values. Ask for examples of when and how each candidate demonstrated their enthusiasm for – and belief in – each one. You’ll know who shares your purpose just as quickly as you’ll know who doesn’t. 

3. Commit to your team’s happiness. 

The happier and more fulfilled your employees are, the happier your customers will be. When you revamp your hiring process to choose team members that fit your purpose, this will naturally improve employee happiness. We also regularly direct job candidates to our Glassdoor profile, so they can see a non-biased view of our company before joining. We want the best fit possible, and for people to know what kind of culture they’re entering before they come on board. 

It’s also your job as the business owner to stay on top of your team members’ satisfaction. A purpose-driven business should include opportunities for employees to learn and grow. Give them new challenges. Invite them to come up with new ways to achieve your purpose. Make your business employee-centric and it’ll also be purpose-centric.

So let me ask you once more. What is your business purpose? Do you have your values defined? Is your purpose a central part of your hiring process? Does your team’s happiness take center stage every day within your walls? When the answers are Yes! You’ve got yourself a happy, successful, purpose-driven business. I’d love to answer any questions about how to help you define your purpose – please reach out!