The Power of Purpose

The question we ask when starting on a project is ‘What is your business purpose and why is it important?’
 
And ‘What is the meaning of purpose?’
 
We work with clients to harness the power of purpose and profit to make them work as good partners in the best interest of the organisation so they can be progressive brands.
 
A company’s purpose goes beyond financial results; a company with a clearly defined purpose is more likely to experience growth, achieve greater customer satisfaction and retain talent.

The Oxford Dictionary defines purpose as ‘The reason something is done or created or for which something exists’. From experience, when we engage a client, we take a step back and reflect on why they exist? Asking the big questions focuses the lens on strategy and futureproofing.
 

It’s so easy for clients to focus on what they make, sell or provide that they can forget to think about the actual value, in other words, what problems we are solving for our clients.
 
Purpose extends beyond clients, it starts in the work environment, future employees today seek out employer brands of choice that align purposeful work, while being commercially profitable at the same time.
 
At OOK, we offer services for business owners and organisations trying to navigate this space. The problem for owner managed companies they are so busy working in the business they can neglect to work on the business head down with the day-to-day running of their business they can fail to recognise potential opportunities or issues when they arise. Understanding your purpose helps with anticipation vs reaction.
 
OOK is a purpose-driven strategy brand agency. We power purpose & profit to work as good partners for progressive brands working with client’s charities and not-for-profits with shared vision of a better world.
 
By powering purpose and profit we build harmony between the bottom line and social mission.
 
We find clients can describe the business in terms of what they do or how they do it. But often they struggle to clearly articulate why they do it?
 
The purpose of a business underpins everything about it and drives its reason for being, it embeds culture and builds values.

Why is having a purpose essential?

“Often the things that we focus on what we make do or sell (products and services) are not what our customers buy (utility and value).”

JJoseph Rowntree was an English Quaker philanthropist and businessman from York. Rowntree is perhaps best known for being a champion of social reform, partner and friend of Charles Booth, and his time as a chocolatier at the family business Rowntree’s, one of the most important in Britain. He aligned social purpose with his business and today his legacy continues with the Rowntree Foundation.
 
The late author, management consultant and professor Peter F. Drucker was obsessed with the responsibilities of leaders and managers and identified the importance of purpose as early as 1954.
 
“If we want to know what a business is, we must start with its purpose. And the purpose lies outside the business itself. What the business thinks it produces is not of first importance. But what the customer thinks he is buying and what he considers value is decisive. What a customer buys and considers of value is never a product. It is always utility, in other words, what the product does for him.”

I have written a blog about this Nike vs Adidas if you want to read it to illustrate this point.

The Benefits of Purpose

If your team know your purpose, they can be 100% focused and at maximum efficiency. When suppliers know your purpose, they focus on giving you exactly what you need regarding products and services. If customers know your purpose, they are more likely to provide you with all the orders for your essential products and services.
 
To illustrate this, take toilet roll, it’s a basic commodity that performs a function. For one consumer they may want to buy the cheapest loo roll as they see if flush down the toilet literally. For another consumer they will be motivated and driven to purchase a loo roll that’s good for the planet example Who Gives a Crap, an eco-friendly toilet paper with 50% of profits donated to clean water and sanitation non-profit.

Purpose is motivation

A Harvard Business Survey revealed that of the companies that clearly articulated and understood their purpose, 58% had achieved 10%+ growth in the past three years. Compared to only 42% of those whose purpose was not understood or communicated.

Purpose moves employees

Employees, inspired by seeing a clear direction forward, can better align their full energies and resources to achieve progress toward the shared vision of achieving growth goals for the organisation.

Purpose drives transformation & innovation

A company with a strong sense of purpose means everyone is working in the best interest of the organisation to be successful with innovation and transformation efforts.

Purpose attracts and retain talent

We deliver culture-led programs for our clients with leading human resources consultancy hr alchemy.
 
A Deloitte survey of over 4,000 respondents* found that over half of employees (62%) consider an organisation’s purpose before deciding to join, with over a third (36%) saying that an organisation’s purpose was just as essential as their salary and benefits package.

Purpose brings clarity & commitment

 
A clear core purpose gives the organisation clarity and commitment. It connects your team, provides structure and gives everyone a common drive towards shared goals.
We all need a purpose to get up and out of bed on a morning. Purpose brings meaning to the workday. Whatever level of work people do, a core purpose keeps the organisation and everyone united making coming to work worthwhile and more than just chasing profit.

The Janitor who put the ‘Man on the Moon’

The name of the janitor who spoke to President John F. Kennedy. The story goes that during a 1962 visit to NASA, Kennedy asked a janitor what he was doing and the janitor replied, “I’m helping put a man on the moon”. The story is often told to illustrate how each person’s role, no matter how small, contributes to a larger goal and a purpose.  The janitor understood the importance of his work and felt he was part of something bigger than himself.

In conclusion

If you are struggling to understand your core purpose, think about your reason for being and what makes you get out of bed every day to deliver for people. If you need help defining your purpose, please get in touch

Max Freer is a Creative Brand Strategist based in Northeast England. She is founder of OOK Agency a UK based purpose-driven freelance brand agency where her work focuses on brand, marketing and campaign management. Max has 30 years industry expertise working with recognised UK Media organisations, national and international brands.