There has been a shift recently in how businesses are created and operated. Instead of a pure profit motive, many entrepreneurs have begun to ask themselves how they can carve out a life for themselves that not only provides financial rewards, but also a deeper purpose and significance. Eschewing the short-term “here today, gone tomorrow” throwaway products mass marketed to consumers, these small business leaders want to make more than an impact on their bottom line. They want to make a significant impact on the world.
How about you? Do you seek significance for your business? If so, ask yourself these following questions:
What is your mission? What do seek to do?
Start by crafting a strong mission statement. This declaration should detail the positive impact that your business will have on its customers and its industry. If you already have a mission statement in place, revisit it. Does it still reflect the direction you want to take your business?
Sure, it’s your mission to make a lot of money and to lead your competition, but go beyond the superficial. State your goals and your ambitions. What do you hope to achieve? What makes you unique? Unite your customer base by providing them with a mission statement that resonates. Make clear that using your product and service aligns with their values and goals.
What value do you provide?
To achieve significance you must provide something of value. If you want to stand out from your competition you have to offer something they don’t. Think about what differentiates you from everyone else in your industry. Innovate and create a product or service that has unique qualities your clients can’t resist.
Who is your ideal client? Be specific. It may seem counter-intuitive to narrow down your target market versus aiming to please the widest demographic you can, but trying to appeal to such a large audience will water down your message and diminish your value. Instead, do the opposite: narrow down your target clients into a defined group. Research their needs and provide solutions to their problems. Become an expert in your field and your value will rise as you help guide others to their own success.
How can your business make a positive impact?
Significance means having a positive impact in the lives of your customers. To stand out and be remembered you must truly change how people think and feel. How will using your product or service affect your clients? Determine the true benefits your customers will receive and make sure you deliver what your promise.
Also consider how your business will make a positive impact on a global scale. What values do you hold? What personally brings you meaning? Once you determine those answers, ask yourself how your business can be an extension of those beliefs. Then design a vision that lays out how your business will be a practicing example of those principles, shaping the world positively through your values.