Lead with PurposeOn this episode of the Lead With Purpose podcast host, Tze Ching Yeung, talks about how to write a powerful purpose statement as many companies now know what drives business growth is purpose beyond profit, which is why having a purpose statement in place is essential from the day you start your company.
KEY TAKEAWAYS
- Having a powerful purpose statement in place will help guide your organisation, it will also help guide your customers in terms of whether they like you or not, if they agree with it, it’s more likely they’ll follow you. It’s a good tool to also attract new customers.
- A purpose statement is a statement that describes the reason why a company exists and the impact that it has on those it serves. It’s different to a mission or value statement. Often companies put out statements including all three which can be a bit confusing. A purpose statement is why you’re doing what you’re doing, a mission statement describes more what your company does, and a value statement is more about the guiding principles or priorities of a company, such as great customer service, innovative products, how you deliver on your goals. Why, what and how.
- A great purpose statement should not be static, it should be able to follow the growth of the company. It should not be based on a particular service or product, it is the purpose of the whole of the organisation, so when you scale, grow and add more product lines and services, your purpose statements needs to be able to remain the same and true to what your company does.
- Keep it short and concise, between 6-20 words, though 20 is a bit on the long side. Keep it inspirational and motivational so employees know why they’re coming to work. A purpose is never achieved, but acts like a guiding star for your organisation. It needs to be sincere and simple, applicable and motivational to all stakeholders, people need to believe that this is what you believe in as an organisation, brand or business owner. It should contain three components: a verb, an intention and an outcome/beneficiary.
BEST MOMENTS
‘Why does your company or brand do what it does, aside from commercial interest? What makes your company stand out?’
‘If people agree with your purpose, it becomes a really powerful tool to attract them to you.’
‘Our purpose, as a business owner, should definitely be in line with our own personal purpose.’
‘A purpose statement is not just for attracting customer, it’s for guiding employees, the organisation and stakeholders that are involved in your company, to inspire and help motivate them to do the work that they need to do.’
ABOUT THE HOST
Tze Ching started her entrepreneurial journey back in 2007 with the launch of a sustainable clothing and home furnishing ecommerce business. Next, she created a sustainable fashion brand.
In 2019, she launched a social enterprise to help raise awareness about the negative impact of fashion at schools and colleges.
Through the 15-year journey, she learned so much, but easily the most meaningful lesson learned was about the importance of marketing. She now focuses on channelling those insights to help others succeed, through We Disrupt Agency, a business coaching, mentoring and digital marketing company.
Tze Ching’s mission is to create a community of global change makers and to contribute to positive change in both people and planet.
CONTACT DETAILS
Tze Ching’s website: https://wedisruptagency.com
Facebook: https://www.facebook.com/wedisruptagency
Instagram: https://www.instagram.com/wedisruptagency/
