As you reflect on 2022, you may be giving thoughtful consideration to the impact your business purpose has on employees, vendors, the communities you serve, and, perhaps most importantly, the impact it has on you. Have you given thought to the joy and contentment your business brings to you and your family? Not just during the holidays, but year-round.
We can certainly agree that business isn’t always “joyful”- especially in the wake of inflation, labor shortages, changing consumer habits and all the other trials we have endured. Many of us are undoubtedly feeling a bit beaten down by the realities of the past couple of years. But when I refer to the word “joy,” I mean, do you still believe in the purpose of your business? Do you enjoy it?
No matter how you answered that question, there are ways to increase joy by strategically aligning your business purpose with profitability – but it all comes down to whether you are truly set up to succeed.
To establish where you stand, you must understand both your business and your intention. Harvard Business Review writes that “entrepreneurs must continually ask themselves what business they want to be in and what capabilities they would like to develop.”
Well-defined purpose leads to well-defined goals which lead to well-defined success.
In our experience, those that define their goals and strategies thoughtfully (and see it through) do better, make more money and are happier. In other words …
They enjoy their business. They aren’t just running, running, running and (you guessed it) running every day.
So if it all starts with purpose … what’s your purpose?
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A global study reveals that consumers are “four to six times more likely to buy from, trust, champion, and defend companies with a strong purpose.” Purpose can also help with employee recruitment and retention. But as an entrepreneur, do you align with the report that indicates “joy stems from believing one’s work is truly meaningful.” And yes … meaningful and profitable can go hand-in-hand – particularly in that order.
Think about that for a moment. Even in the midst of challenges, do you have a business purpose that you enjoy, and do you have a well-defined future? Imagine how better off it would be if you could check both of those boxes.
I would recommend beginning to analyze your business by asking yourself the following questions:
- What parts of your business bring you joy?
- What aspects diminish your enthusiasm?
- How can you be better organized with your business?
- What are the challenges you face in reaching your short and long-term goals?
- Do you have all the information you need to make smart, strategic decisions?
If you need guidance in answering these questions – and determining how you can reclaim or expand the “joy” of owning your business – we can help. In fact, helping you is our purpose, it’s our strategy, and it’s what brings us joy.
Final Thoughts on Purpose
Being an entrepreneur is never going to be easy, but there should be energy in providing impact and building something for the future.
So, with a thoughtful look to 2023, I ask that we focus on ways our strategic planning can help bring “joy” and purpose back to our entrepreneurial journeys. If we can help you gain clarity in any way, please do not hesitate to reach out.
We’ll be back in January with more industry news, insights, and encouragement.
Until then, Happy Holidays and may your 2023 be joyful and prosperous.