Going into business simply to make money may be one of the reasons why you want to start your own business but it won't be enough to keep you going when things get tough and it definitely won't be enough to get potential clients to sign up for whatever it is you are offering. We previously discussed how important it is to have a personal WHY statement. Now, we will discuss why it is important to have a business WHY statement. Your business WHY should be in harmony with your personal WHY.
It is easy for us to tell people WHAT we do and HOW we do it but WHY we do it could be a bit challenging for some of us. Make no mistake about it, defining what your WHY is will help you to find a clear, laser-focused and fulfilling life. It will be your WHY that motivates you to wake up in the morning and do what you do whether it is for personal or business gain. Not only is it important for you to know what your WHY is but it is equally as important for your customers to know what your WHY is in order for them to buy from you. Your WHY should be communicated throughout every aspect of your business that includes marketing, sales, customer communication, financial objectives, etc.
DEFINITION OF WHY
I most definitely didn't coin the phrase "find your WHY". My first interaction with this phrase was after I read the book Start With Why by Simon Sinek. Although, this concept has been around for a long time, Simon started a movement to inspire people to do the things that inspire them and he has definitely made this phrase more widely known in the business community through the use of his books and TED talk.
The WHY is "the purpose, cause or belief that drives every one of us....the one constant that will guide you toward fulfillment in your work and life." Or in other words you can rephrase this and make it personal by saying "my WHY is my purpose, cause or belief that drives me...my one constant that guides me toward fulfillment in my work and life." If you go throughout life and never define truly what your WHY it will only lead to a life of frustration and disappointment after disappointment. It will be like driving a car to a destination without having a road map or GPS navigation system. You will never reach your destination because you would never know where the destination is in the first place let alone the road you need to take to get there. Just like everything else in life, the earlier you do this the sooner you will get to truly fulfilling your purpose in life and being happy.
Defining your WHY is not only beneficial for your personal life but also for your business. If you are not clear on the reasons why you are in business then your customers won't be either, which will make them less likely to buy from you. In addition, if you don't know WHY you are in business then your messaging to your customers won't be clear and you will never be able to reach your target audience. Just from a personal perspective, when your WHY involves helping others I believe it serves not only a greater good but a much deeper and happier fulfillment in your personal life.
Knowing your WHY will help you to be able to clearly aim your arrow towards the bulls-eye. Goal-setting and clear objectives are crucial when starting and operating a business. When defining your business objectives your WHY will provide a "a clear sense of purpose that will enable you to focus your efforts on what matters most, compelling you to take risks and push forward regardless of the odds or obstacles..." as stated by Margie Warrell, author of Stop Playing Safe. Margie goes on to add that "Without an answer to the question ‘Survival for the sake of what?,’ we can quickly fall into disillusionment, distraction and a quiet sense of despair...knowing your why is an important first step in figuring out how to achieve the goals that excite you and create a life you enjoy living (versus merely surviving!). Indeed, only when you know your ‘why’ will you find the courage to take the risks needed to get ahead, stay motivated when the chips are down, and move your life onto an entirely new, more challenging, and more rewarding trajectory."
So how should you go about finding your WHY? Although there is no clear cut pathway to do this, I have listed some questions to ask yourself to get started. Take some time to yourself with no distractions to gain deeper insight into yourself. Take out a pen and paper and truly commit to answering the 5 questions below. When was the last time you did an exercise like this? Use the 5 questions below to help you to create your business WHY statement in just 3 or 4 sentences.
What are 2 of your most important values?
What are 2 passions that make you come alive?
What does success look like to you?
How will you measure your success?
If your WHY is to make money, then why do you want the money?
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Read the next article - Step 5 " What is a unique selling proposition and why do I need one to have a successful business? "
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