January is the season for goal setting. It’s exciting to have a new year full of possibilities and opportunities for growth. Have you committed to eating better or hitting the gym more? Maybe you’ve decided you want to spend less time on your phone and more time with your family.
As you look toward the year ahead, you probably have goals for your business, too. Do you want to make more sales, expand your product line, or scale your operations? As you set goals for your company this January, remember that your goals are only as powerful as the purpose behind them.
Purpose-driven vs. short-term goals
If you focus solely on achieving short-term goals, you will only get short-term fulfillment. Your goals won’t have lasting power. When it comes to your business, your goals must be aligned with a greater vision, or you will never find the success and meaning you desire.
When you set a goal, start with why instead of how. Find the purpose that drives your company, and determine how your goals relate to that ultimate purpose. When you connect your goal to a bigger WHY, it will have enduring power.
Business is a spiritual game. How can you do more for others? How can you do it consistently? Some of our deepest human needs are to grow and to give. Your business can meet those deep spiritual needs when you provide yourself and your employees with opportunities to progress. As your business grows, you have more to give to others.
Creating a vision with meaning
When you build a business, it is more than a vehicle for making money; it is an opportunity to impact people through experiences, moments, memories and interactions that MATTER. Here are some examples of mission statements, or purposes, that have guided some of the world’s most successful companies:
Nike
“To bring inspiration and innovation to every athlete* in the world. *If you have a body, you are an athlete.”
“To organize the world’s information and make it universally accessible and useful.”
IKEA
“To create a better everyday life for the many people.”
Patagonia
“We’re in business to save our home planet.”
Starbucks
"To inspire and nurture the human spirit – one person, one cup, and one neighborhood at a time."
All of these companies care very much about growth, sales and their bottom line. However, they are ultimately driven by a deeper purpose that helps them understand their company and gives incredible value to their customers. Companies connected to their purpose enjoy greater employee engagement, encourage innovation and create raving fans. Great leaders unite their entire company behind a shared vision and it drives peak performance at every level.
What business are you really in?
Successful companies understand the value that they offer their customers. In our business coaching programs, when we ask entrepreneurs and executives what business they are in, we usually get standard answers—they tell us they are in tech, finance, sales, retail or the restaurant business. Then, we ask them to consider what business they are really in.
The mission statements above encompass that idea. Ikea isn’t just in the furniture business. It is in the business of elevating the standard of living for everyday consumers. Early on, Starbucks was struggling to find its footing as a coffee distributor. It was only when Howard Shultz redefined Starbucks’ vision as a place for community gathering that it began to succeed. Starbucks was not in the coffee business; it was in the business of bringing people together.
Never love your product more than your customer.
A mistake that new business owners frequently make is to fall so in love with their product or service that they can’t make adjustments to meet the needs of their customers. You don’t make the business special, and neither does your product or service. Your customer is what’s special. When you can figure out how to add incredible value to your customers in a way that nobody else can or will, that’s when you will have a breakthrough with your business. That’s how you will find the X-factor that sets you apart from your competition, and that’s where you will find passion and fulfillment.
A raving fan company culture is one where everyone in the company, from the top to the bottom, loves the client and lives to make them happy. The number one goal of any successful business is to understand, anticipate and fulfill your customers' deepest needs. You want to focus on creating raving fans rather than just satisfied customers.
Unlock an extraordinary life.
Progress equals happiness. It’s intrinsic to the human spirit. And in tandem with that, the secret to living is giving. Both are needed to make us feel whole. If you want to live an extraordinary life or create an extraordinary company, you need to tap into the real growth that happens when you look outside yourself.
It is not what we get that gives meaning to our lives but who we become and what we contribute.
A company vision acts as a north star to guide your decisions and keep you going when things get tough. Where focus goes, energy flows. That is why our business and executive coaching starts by helping clients define their purpose. When you focus on a purpose that makes a difference in the world, you’ll unlock the secret to all business success.
This is your year to transform your business and your life. Start by finding your purpose, and you’ll be blown away by what you can accomplish.