If we think of values as guardrails for how we make decisions, act, and react, then purpose functions more as a north star, as one overarching, ultimate goal that guides the company.
Purpose answers the ageless question why? Why does what we do matter, what difference are we making in the world? Why would our customers miss us if we weren’t around?
Today, purpose is probably the most important element that goes into setting the direction of fast-growth companies.
All the fastest growth organisations have this tag line with a social purpose built in that acts as a north star of the organisation.
Think Google – organize the world’s information, Uber – everyone’s private driver
A company’s purpose is a response to a future need already out there in the world waiting for an organisation to respond.
Finding your north star is not about writing a clever tag line. It is about being clear on the difference you want your business to make, and then letting that guide the choices you make about people, products and priorities. If you have not thought about this before, a good place to start is to ask what your customers would miss if you were not there. If you want to explore where you are heading, have a read of who do you need to become for your business to grow. For some background, there is a useful overview of the mission statement.
