A visible sense of purpose

“What is your business?” And the second question is “How is business?” says management guru Peter Drucker. This visionary and legend has set the foundation for the serious study of business and management.

Today, with the vast majority of millennials populating the workplace, there is another question they want an answer and the question is: “For what purpose is this business existing in the first place and is the purpose grand enough that would make them proud to be working with it in the first place?” In other words, this is a search for having a visible sense of purpose for a business’ existence.

A sense of purpose is not some cheesy, good-sounding pie in the sky thing that many business executives or motivational speakers use and say methodically in their script and practiced lines. It goes deeper than mere rhetoric. Any organization without a visible sense of purpose for their people to see would find itself in a great disadvantage and in a continual turmoil.

For example: a car manufacturing company might say that its purpose is to “generate a healthy profit by manufacturing the finest cars in the world.” It becomes obvious then that every objective and goal of this company should in some way contributes to that broad purpose. But broad as it may seem it provides a general direction for the company and keeps its eyes focused towards this purpose. It provides direction.

It isn’t uncommon for successful companies to have executives recommend that they utilize their assets and divert itself into another field of business, which they are convinced to be extremely profitable. For example, suppose some executives inside the car company would suggest that they open a supermarket or a massage parlor as well, the purpose statement clearly defines that the recommendation does not follow its direction of travel and thus minimizes error.

Run a test with your key executives in your company. They might be so engrossed in the daily grind, caught up with the activities and while they lead the pack they themselves do not even know why the business exists.

The vision and mission statement on their corporate website looks so nebulous, insignificant and devoid of meaning and does not say why the business is there. Maybe this is why they make business decisions and recommendations that are so off tangent to the core of why the enterprise exists in the first place.

Small and medium enterprises, family businesses are notorious for this. While the older generation is passing on the business to the younger ones, the young successors are absolutely clueless as to why the enterprise exist in the first place apart from: “Making money as the old man or woman wants it ever since it started…” And this is not a good thing.

A purpose statement answers the question, “Why do I exist?” Such a statement does not need to be profound and complicated but it needs to provide a general direction towards your goal.

A friend of mine opened a small factory for toll production. He had big dreams, his dream is that one day he would be able to market his own brand and compete with the country’s most successful companies during those years. I helped him achieve this and it was easy for me to do so because his purpose was clear.

Then he became successful. Money came in. Bank managers offered him loan facilities. And he lost his purpose. He entered into multiple businesses that are so far and remote from his core. A few years later, he lost most of his businesses and in hindsight it is clear to see that most of these ventures that closed or were sold at a loss were the ones he built without having a visible sense of purpose as to why they were even put up in the first place apart from the belief that “I will make a lot of money in this.”

Diversification is important in business. But the question one needs to ask is why? What is the purpose? What is the visible sense of purpose for the business that is clear and evident to the people that would rally their energy, idea and efforts towards the pursuit of that purpose?

Millennials want to know why they are working, for what purpose and for what cause. This gives them pride. Money is important to them but the moment somebody offers a higher pay they leave but those who stay are motivated by the visible sense of purpose as to why the company exist or have been growing all these years.

Is this articulated? Is this emphasized and most importantly, is this there in the first place? The question “why” is so powerful.

And I will end by challenging you to think deeper. Have you ever known the purpose of your own existence? In many cases, the question “why” is just as important as “what is your business” or “how is your business.”

(Bestselling book author and productivity expert Todd Henry, Francis Kong and a host of successful leaders will talk about Passion, Purpose and Productivity in a whole day conference entitled: “Die Empty” on Nov. 9, 2017 at Samsung Hall, SM Aura. For registration or inquiries contact April at +63928-559-1798.)