Purpose often motivates businesses to do their best. If that’s what you want, there are a few things you should do, here.
What is the importance of leading with purpose?
Leading with purpose can help frame your business as superior and dynamic. A good example of a company that uses this leadership technique is Google, which aims to “organize the world’s information and make it universally accessible and useful.”
What are the advantages?
Researchers have found that “purpose” gives companies a competitive advantage and a stronger balance sheet. Here’s some of the data*:
- Raj Sisodia, FW Olin Distinguished Professor of Global Business at Babson College and Founder of Conscious Capitalism Inc., found that purpose-driven companies outperformed the S&P 500 14 times between 1998 and 2013.
- Harvard Business Review also revealed that over a three-year period, the majority of purpose-driven businesses (58%) experienced growth of at least 10%, compared to only 42% with less clear purpose.
You can also adopt this technique by having your own goals. For example, your goal is to make everyone healthy with a healthy diet, then do various strategies to show your goal to the world so that various opportunities will come to you to help make it happen.
How to?
When leading with purpose, there are three things you should always keep in mind: share your purpose, leverage your network, and be authentic.
Don’t hide your goals, but share them with the world by leveraging your community. Being open to inviting others to engage with you will enhance and expand their own efforts.
By stepping out of your comfort zone and authentically sharing your goals and passions with them, you, as a leader, can be a significant driver in rallying your team towards positive change and impact.
