Yes, there are some bad businesses. The good news there is that they leave room and lessons for other entrepreneurs to build better ones.
We’ve searched books, case studies, podcasts, and expert advice from the best clients and industry leaders to simplify and bring you this list of how to make that better business stand out from the rest.
Words by Paolo Aljibe
Illustration by Paolo Geronimo
1. Everything must have its purpose. Make yours count.
The tip: Good ideas come from good intentions that can sow its good purpose.
First, look in. A business is typically created to solve a problem—and one that may be similar to others. But what defines a business’s purpose or its reason for being is its intentions, so make it count. Ask yourself why you do what you do. Combine that with the know-how to improve and innovate the business’s profitability and efficiency, and you can inspire a call to action as well as make a lasting impression.
Second, look outwards. It would be sweet to be part of a process that makes the world not only livable but one we’re actually grateful to be in. Anything that makes someone’s life a little bit better is worth a shot. Changing the world doesn’t happen overnight, but contributing to it through a purpose that creates value beyond financial metrics could eventually lead to that. In a world that’s just trying to catch attention, be true to your intention.
2. Share your idea to some, and then to the world.
Starting small is already a big feat.
Being true to your intention means shining your own light instead of hiding in the shadows. If everyone, from employees to customers, is aligned to a common purpose, it empowers them to move from words to deeds. When you build a business on a clearly defined purpose, you can proudly showcase it to the world because undoubtedly, there are people beyond your borders who will also need it.
Going big is never the enemy especially when a business can keep its soul. Keeping a business small isn’t bad either. Know exactly how much scale your business can strategically cover and what the opportunities are to grow and develop. The best guide is always your niche as most of the insights you need will come from them. If they’re listening, then there’s a chance you can make the rest of the world do, too.
3. It’s your story to tell.
Leave an impact on your business and everyone around you.
Every great story starts with inspiration. And the best inspiration comes from a genuine place. Yours is a story that only you can tell, and real stories stand the test of time, so highlight the good stuff. A unique selling proposition will help you differentiate— “What makes me unique?” But the story is what makes you worth the time— “Why should you go for me?”
So when you find your business’s purpose, don’t just leave it as is. Be strategic about how you deliver it. Do it with clarity and avoid sweet nothings. With a business built on purpose, it would be a shame to keep it hidden.
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