One of the BIG advantages of having our BVTV Network here at BizVision, is that we gain a constant flow of what we may call the “mood of business” on a global scale. That means the trends and changes, along with the latest thinking and actions.
I have no doubt at all that your success factor in 2023 will revolve around what are terming as the pursuit of purpose, alongside the pursuit of profit.
You already know that the world has changed since the pandemic and the fall-out (or is it fall-up?) continues and is gathering momentum.
People are leaving their job primarily because of dissatisfaction wit their present employer, lack of opportunity, and the sheer lack of direction by the employer.
The merging workforce of Generation Z and X only wants to work for a company that knows and lives its purpose.
Stakeholders and, especially, customers are carefully looking at a company’s statements, products and brands to see that they fit in with their own changed values.
Investors are growing in their prioritising of aspects such as consciousness and well-being within a business
Companies’ social impact responsibilities are increasingly measured by buyers and suppliers. “Greenwashing” is more than frowned upon. Businesses need to be transparent and authentic in their pursuit of purpose.
I could go on. In fact, it is no longer success coming from “what we do” but instead success from “who we are” that is paramount.
It’s why in 2023, we bring you BVTV 4 – The Purpose Channel along with our Better Business club, coaching and courses and our acclaimed BizPulse Better Business Scorecard.
So what are the essentials on your path to purpose?
Let me give you a starter of four – you can follow our other thinking at our BVTV 4 -The Purpose Channel.
- Create a compelling, clear and comprehensive narrative. Too many businesses have ambiguous statements about their purpose. Keep it clear of such ambiguity.
- Be consistently authentic. When a company demonstrates an authentic purpose, consumers feel a connection to the products and company. They will choose that company, even if it’s not the cheapest offering.
- Hire the right people. You can’t force your people to share your purpose. If they don’t, customers will know. It’s better to hire people with a shared sense of purpose which gives everyone a common starting point.
- Focus on creating shared value. As Michael Porter and Mark Kramer wrote in Harvard Business Review in 2011: “Shared value is not social responsibility, philanthropy, or even sustainability, but a new way to achieve economic success.”
Our BizVision Conscious Compass Coaching along with our exclusive BizPulse Scorecard will help you get started as you manage to the four points of Plant, People, Profit and Purpose.
Now, I don’t say that creating, embedding and delivering on your purpose is simple. You need to know what works and what doesn’t. I’m working with businesses daily to help them. Contact me, Malcolm Gallagher, if you want a free chat about creating and delivering on your purpose. Email me at mg@bizvision.co.uk or call me at UK 0784 341 3305
