Purpose Driven Companies Have a Greater Chance of Success
Creating a purpose driven company will give your startup a better chance of success than a business that just wants to make a profit. It’s like a “Field of Dreams” scenario: If you build it, (the money) will come”. Okay, we switched it up a little, and we’re also dating ourselves by referencing Field of Dreams, but the sentiment is real. Focus on the purpose of your business, and success (and profit) will follow.
Stay focused and think about your long-term goals
When your company has a purpose, it is also easier for you to stay focused, which is important at every stage of a business, but particularly in the beginning. You’ll be seeking advice from your network, friends, family, delivery men, bartenders, and anyone who will listen, so chances are you have a lot of conflicting opinions and chatter in your brain. Keep coming back to the “purpose”, why you started the company in the first place, why you think your product or service is important and necessary. Many people will have a clever idea for how you should be utilizing your product in a way that is different from your original intentions. Stay focused on your mission, don’t get sidetracked.
If your idea is good enough (and we’re sure that it is), there are going to be many people who want to jump onboard and capitalize immediately. Again. Stay true to your mission, don’t compromise or get distracted by a lot of talk about money. We know you may be broke, and a little capital would be great, but you have to be strong and stay focused. Slow and steady wins the race. If you want to have a long, sustainable business, you need to weigh your options carefully.
You can’t please every customer or investor
It’s great to listen to others and get their advice, whether it’s your best friend, parent, uncle, teacher, mentor, potential investors, or customers, but don’t get so bogged down trying to please everyone that you forget why you wanted to create the product in the first place. If you try to give everyone what they want, you’ll lose the purpose of your business.