Question

Clearly and fully explain that business is about purpose-get the purpose right profits follows.

Answer 1

Focusing on your business purpose and what product or service you 're aiming to deliver will help you gain support from customers, investors and employees more easily. It helps you develop a stronger brand and a better working environment, turning clients into brand evangelists and employees into cause ambassadors. Focus on profit intent, and for your startup you will enjoy these three tangible benefits.

Consumers are being inundated with options in almost every sector. Many companies sell similar products and some are virtually the same. Focusing on impact or purpose is a great way to help your business stand out from the crowd, and it allows you to offer a unique selling proposition that will convince your customers to make.

When your business can resolve the pain points of your customers, they will spread the news to everybody with a similar problem. Despite a wealth of big data and digital marketing efforts venturing their high ROIs, word of mouth remains the strongest marketing type. When customers hear advice from people they trust, they listen and then act on it.

Getting an organization that focuses on effect rather than benefit will lead to a much healthier working climate. For your company, work culture is so critical that it can actually make your workers more efficient, even when financial rewards are not enough to do the same. Nearly three-quarters of American employees feel their job is fuller when it allows them to have a positive impact on their communities.

Business and ethics go hand in hand. Often we behave for personal purposes and sometimes for interests that affect others. Incentives are important but principles are also important. Most people tell the truth and keep their promises, and most of the time, act responsibly. And we have to promote that behaviour. It is not just bad ethics when those expectations are not met, it is also bad company. Business is an entity profoundly human but its aim is not to make as much money as possible. There is something else to the purpose. We need to bring meaning back into capitalism because business is fundamentally about meaning and value-creating income and benefits to stakeholders follow.