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Why Purpose Matters: Four Business Reasons Plus One Emotional One
Guest articles > Why Purpose Matters: Four Business Reasons Plus One Emotional One
by: Lisa Earle McLeod
In an era where it seems like many companies have become heartless sweatshops grabbing for every nickel they can get and squeezing their employees for more and more, having a larger purpose still matters.
People have become jaded about mission and vision statements. Too often, they become meaningless platitudes put on a placard that hangs in the lobby and no one reads.
A purpose is different. A purpose is a concrete reason to get out of bed in the morning. It’s how you and your company make a difference today. A clearly articulated purpose restores the nobility and meaning to work.
Here’s why your purpose matters
Purpose is why your organization exists. Purpose drives sales. You don’t have to create world peace. Your purpose can be helping customers be more successful or making a difference in your industry.
Purpose makes you money. A study from Jim Collins and Jerry Porras found that organizations driven by purpose and values outperformed the market 15:1 and comparison companies 6:1. Purpose may sound fluffy, but it translates into cold hard cash. Having a purpose beyond making money almost always results in you making more money.
Purpose isn’t just a feel good thing; it’s essential in a tough economy. One of our clients provides IT services to small businesses. Two years ago, if you asked their people what they did, they would have told you – “We sell IT services.” After we started working with them we made a critical shift. Now their CEO says, “Our purpose is to help small businesses be more successful.” We pulled that purpose to the front and center of everything they do.
The result: Their sales are up 35%. In a challenging economy, when most of their competitors are floundering, they increased revenues by 35%. Ask anyone in their organization what they do, and they’ll tell you. “We help small businesses be more successful, and we’re damn good at it!
Purpose-driven salespeople outperform product-driven salespeople. In a double-blind study I did with a major biotech company, the single unifying characteristic of the top performers was a sense of larger purpose. The salespeople who were product-focused or who wanted to win the trip did OK. But the salespeople whose clearly articulated purpose was to heal people consistently sold more than everyone else
For them, it wasn’t just about touting features and benefits or winning a trip to Aruba. They’re playing for higher stakes.
One top-performer summed it up saying, “If it’s 4:30 on a rainy Friday afternoon, other sales reps go home. I don’t. I make the extra sales call, because I know, I’m not just pitching a product. I’m saving people’s lives.”
Purpose ignites the secret yearnings of our hearts. Human beings have two fundamental emotional needs: We want connection and we want meaning. We want to have close personal relationships and we want our work to count for something. We want to make a difference
I’ve worked with over 200 leading sales organizations. I can tell you beyond a shadow of a doubt, the people who have a fire in their belly are the people who have a purpose.
Working for a higher purpose engages people’s passion in a way the spreadsheets never will. Products and profits connect with your head.
Purpose connects with your heart.
If you want your organization to be more successful, start with purpose.
Lisa Earle McLeod helps organizations win the hearts and minds of customers and employees. She is the author of three books included the best-seller, The Triangle of Truth: The Surprisingly Simple Secret to Resolving Conflicts Large and Small, A Washington Post Top 5 Book for Leaders.