The purpose-driven entrepreneur is someone who cares about more than just making money in the short term. Doing something you believe in and making an impact on the world can make your purpose become your legacy! Read on and learn more about how to build a company that makes a difference.
Becoming A Purpose Driven Entrepreneur
If you are going to be a purpose-driven entrepreneur, the very first thing you need to figure out is what is YOUR purpose? This is not an easy task, but taking the time to talk to yourself is crucial.
Routines that can help you on this journey are waking up early, exercising, positive affirmations, meditations, gratitude, reading, and setting a goal for the day. Start the day focusing on the most important thing in the world, which is you, and soon you will start seeing the world with new eyes.
“Take care of yourself so you can take care of the world.” – Fred Cary
Once you learn what is important for you, apply it to your business idea.
You can find more inspiration on how to do that on Fred’s official Instagram profile.
Types of Purpose Driven Organizations
A purpose-driven organization is not a good way to make much money in the short term, but it is a great way to make a lot more in the long term and create an impact in the world. There are two types of purpose-driven organizations:
- Internally purpose-driven companies want to do good for their employees, stakeholders, and the tighter group. Good examples are AirBnB and Amazon which focus on their employees, offering free lunches, flexible working hours, etc. to create a nurturing and motivational environment. Money is not a motivator, it is a short-term recognition of an employee’s accomplishments.
“What motivates people is the culture of an organization.” – Fred Cary
The things a company does for an individual to let them know their work is valued are critical. If you have employees who have a sense of purpose and belonging, you are on the right track.
- Externally purpose-driven companies think about what they can do for their customers, but also the community and the ecosystem. If you decide to create a product that will be harmless to the environment that will cost you more money and you will earn less at the beginning. Take the extra time to consider your global and local environment, stakeholders, customers, suppliers, and the community, because they will perceive you differently. When you stand for something more than just the bottom line, employees will love working for you, and the customers will be more loyal because they agree with your cause.
6 Companies That Are Driven by Purpose
- Tesla, which came out as a luxury brand, has recently introduced the $35,000 model. Although there is an internal reason for doing that, the external purpose-driven reason is trying to find a way to bring more sustainable transportation to the world. Sustainable transportation means less pollution and a better environment.
- Microsoft has built a common database model used both by large and small organizations that otherwise couldn’t afford it.
- Amgen has a science program to help high-school students learn about possible options, get grants, and become the next generation of scientists.
- VF Corporation boycotted Brazilian leather due to intentional fires burnt to increase the cow and leather production in that industry.
- Timberland is on a mission to plant 50 million trees.
- 4ocean company was funded by a couple of surfers who wanted to clean the ocean from plastic. Today they are making millions of dollars selling bracelets made of the plastic they collected. That is an example of a hundred percent purpose-driven company.
You don’t have to do that because it is enough to make it a part of what you deliver and an added bonus is that it has a positive impact on the world. If you plant a tree for every subscription, you will make less money for every subscription, but you will get a lot more subscriptions. These things make me feel that I’m doing my little part as a consumer, working with your company to be purpose-driven myself. You’re allowing me to give back by doing what you do as an organization. That’s the kind of secret sauce of a purpose-driven organization.
Related Reading: What It Takes To Be a Successful Entrepreneur
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