How can you keep yourself excited about work, attract and retain top-notch talent, and cultivate a loyal customer base who adores you? It all starts with a powerful decision: making your business meaningful.
According to Harvard Business professors John Kotter and James Heskett, purpose-driven companies have consistently outperformed their competitors in stock market performance by a ratio of 12:1. Whether it’s millennials or baby boomers, there are millions of talented individuals seeking meaningful work with organizations that prioritize strong ethical, social, and environmental values.
Follow these steps to infuse more meaning into your business today.
1. Clearly define your purpose.
Don’t assume that others can read your thoughts or feelings. Articulate your company’s purpose and communicate it frequently. The more emotionally connected you are to your mission, the more your thoughts, choices, and actions will align with that purpose. If you’re struggling to clarify your purpose, start by answering this question: What is your company’s reason for existing, beyond just making money? What positive impact do you strive to create for your customers?
2. Create a list of frustrations (or heartfelt concerns).
This is a valuable exercise to undertake with your team, especially if you’re unsure of how to incorporate deeper meaning into your work. Take a look around you. What issues do you observe in your community, among your customers, or in the broader world? What aspects of your industry provoke your frustration? What melts your heart? Compile a list of the challenges, problems, and injustices that evoke strong emotional responses in you, and select one to address.
3. Take action.
You don’t need to make large donations or completely overhaul your business model right away. Start small, but start now. Offer your business expertise for a few hours to an organization already making a positive impact on an issue that resonates with you. Launch a promotional campaign that supports a cause beyond your own profit. Provide scholarships or free products to a community that may not otherwise have access to your services. Don’t feel pressured to commit long-term to any single organization yet. Familiarize yourself with the key issues, stakeholders, and most importantly, your own values.
