A Purpose Driven Business is More Successful. What is Your "Why"?
Have you ever asked yourself, “Why am I working so hard?” and “What’s next in my life that has me energized and excited?”
Having been through significant life-changing events these past several months with the sudden passing of both of my parents and the birth of our first grandchild, I’ve begun to ask myself these questions.
As the executor of my parents’ estate, I’m responsible for handling the distribution of Mom and Dad’s assets to their stated beneficiaries. This process is very humbling. I’m staring straight at the meaning of life and how short life really is. And experiencing the reality that once someone is gone, life itself moves on. The only things that truly remain are the memories.
Looking at our beautiful grandson and seeing new life - the innocence, the future - reaffirms that what we do with our lives has to have meaning. Otherwise, what are we doing, but moving through the days.
As a certified exit planning advisor, I work with a lot of business owners. Many have never thought about much beyond their business. Why are they working so hard? What do they want to do in their next chapter? Very few have an answer. And I’ve found most have done little to no planning to not only prepare for what’s next but also live a better, more fulfilled life today.
My parents’ memorial is coming up in May. In preparation, we are going through pictures and cleaning out files. In this process, I found a folder that included birth announcements, wedding invitations, and obituaries of family members dating back to the 1960’s. A couple of thoughts came to mind when I was looking through these items: 1) Why doesn’t anyone keep these special life mementos anymore? 2) With this digital world, nothing is tangible be it newspaper clippings, pictures, etc. 3) Are we all just announcements from the time we’re born until the time we pass? 4) What do I want people to keep from my life?
I’ve been a business owner now for almost 15 years. Prior to that, I worked in private industry for 15 years, and prior to that I worked in public accounting for 4 years. All of this while raising three children (now adults) with my husband. I’ve had accomplishments and failures. I’ve been excited about life and had times when I wonder what I’m doing and why I’m doing it.
As business owners, we are afforded the following freedoms to choose:
What we do
How we work
Whom we work with
Where we work
When we work
How much we earn
However, the most important freedom we have is the freedom to live with purpose.
What’s even more amazing about aligning your business with your life purpose is that it will also make your business economically stronger and more prosperous. Here is how:
When your business is aligned with your purpose, you create a unique brand identity. A distinctive and well-loved brand identity is not stealable.
A purpose-driven business attracts the right customers who share your beliefs and values and are not tempted by discounted copies of your products.
It makes you resilient when challenges and obstacles show up because your purpose as a business owner is more significant than these obstacles, fueling your drive to succeed.
It will attract the right employees who will stick with you through thick and thin because they are inspired by the purpose, likely the main reason they wanted to work for your company in the first place.
Having a “why” or a purpose for what you do and how you live not only permeates your business but also your personal life. It adds meaning. It defines your legacy.
Our Purpose at Journey Consulting is “Changing Lives by Transforming Businesses.” I started the business to have an impact on people’s lives. Yes, we need to make money, but that is truly the by-product of what we do. Because, if we focus on our “why,” we attract the right clients and the right team members.
Life has a funny way of providing occasional wake up calls. As I look ahead to the future of Journey Consulting and my personal life, the ability to change lives through my work and through the interactions with my family is the legacy I want to leave behind. It’s also my next chapter of how I will obtain fulfillment in what I do every day. What is your “why”?
True happiness…is not attained through self-gratification in life, but through fidelity to a worthy purpose. – Helen Keller
Jayne McQuillan, CPA, MBA, Certified Exit Planning Advisor (CEPA) is the owner of Journey Consulting, LLC
Our firm is focused on providing business owners and their businesses with strategic planning, exit planning, financial expertise, and organizational improvement. We use a holistic approach within all of our services by aligning leadership with business strategy and outcomes.
Schedule your free consultation call today!