Running a Purpose-Driven Business

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When your business is created out of service and purpose, your focus tends to stray away from the administrative matters. This is understandable. Prioritising to help a community is not a walk in the park. On this journey, you require the help of teams that are as passionate as you are. Every member should have an understanding of the philosophy which serves your company in two ways: as its backbone and heart.

For the administrative matters, you can choose to outsource a team. For instance, you can acquire the help of a small business accountant in London to take care of your company’s payroll and taxes. This way, you can place your energy on projects that have greater contributions to the world.

A business with a purpose can achieve more than it could by pursuing profit alone. The purpose can either be a selling point or a strategy. It can also be both. Consumers prefer brands with story and advocacy.

According to Oliver Pursche, CEO of Bruderman Brothers, it’s smart to invest in purpose-driven companies. He said, “Purpose-led brands are more successful in acquiring and retaining customers. This may make intuitive sense, but it is also backed by behavioural science: people buy things that make them feel good about themselves.”

Another important mission for businesses with this type of model is sending your message across. You can do so by answering this list of questions.

1. What do you stand for?

Consumers need to know what makes your company worthy of their loyalty and support. This is why it’s important to be clear about your advocacy. Translate your support into words, so you can have a better grasp of it.

Your advocacy will initiate the connection between your business and the people. Doing so will help you find your customers—the companions who will stand beside you to fight for the change you’ve been trying to achieve in the form of the product you’re selling.

2. Are you genuine?

tree planting

Now, customers are smarter consumers. They can smell a marketing gimmick from afar. They’ll make sure that everyone knows they hate it. When they sense that you are faking it until you make it, expect them to do their research to back up their claim. They will not think twice on revealing you in their social media accounts.

If your company is committed to its advocacy, every decision being made for your business and by your business should be a reflection of that purpose. Your advocacy is your truth. Practice what you preach. If you are aiming for sustainability, your office and stores should run on sustainably.

3. How can you show the consumers that you are genuine?

They say actions speak louder than words. Once your company’s commitment to its advocacy is established, it’s time to encourage the community to participate beyond their purchase.

Community engagement is necessary for positive social change. Through profit, companies have the resources to create a platform where more people can be involved. Including them in the creation of programs and initiatives will keep your company in a state of growth and relevance—as you continue to carry out the company’s purpose.

At today’s time, a business with a purpose might be the current trend, but empathy should be timeless.

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