PART 2 – GUIDE TO A BETTER BUSINESS
WHY do you do what you do?
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Success, Pupose, Freedom, Fulfilment, Peace
Starting a business involves a huge leap of faith:
to go beyond your comfort zone in the belief that you have what it takes to be successful.
Even if things go well, you’ve still signed up to a working life full of surprises and challenges.
If you’re already running your own business, you’ll know the hard work it takes: 50+ hour working weeks, often with little financial return at first.
Employees need your constant support and you probably have to deal with customers who don’t like paying their bills!
So why on earth are you doing it?
What gets you out of bed in the morning?
And what keeps you going, even on the toughest days?
These are such important questions to ask.
The importance of defining your ‘Why’
We all go into business for different reasons.
Sure, there’s some commonalities. We all want to provide for our families; but you could do that as an employee….
Why load extra stress on your shoulders by going out on your own?
Running your own business means you have an opportunity to not only look after loved ones but to create something that truly has meaning and creates a richer, more rewarding life; for you – and for others.
Are you looking to change something in the world that you think is broken? Do you have a passion for your trade and want to be the best? Or do you simply love to help others?
This concept is known as your ‘Why’ and it’s the first anchor for the first cornerstone of small business success: The Big Picture.
The importance of defining your ‘Why’
We all go into business for different reasons.
Sure, there’s some commonalities. We all want to provide for our families; but you could do that as an employee….
Why load extra stress on your shoulders by going out on your own?
Running your own business means you have an opportunity to not only look after loved ones but to create something that truly has meaning and creates a richer, more rewarding life; for you – and for others.
Are you looking to change something in the world that you think is broken? Do you have a passion for your trade and want to be the best? Or do you simply love to help others?
This concept is known as your ‘Why’ and it’s the first anchor for the first cornerstone of small business success: The Big Picture.
Your personal ‘Why’ vs. your business ‘Why’
You’ll have your own personal reasons for going into business. There are the reasons that continue to drive you to go into work day-to-day. Fulfilling them is entirely up to you – they are the ‘Why’s’ that drive you as a person.
But you also need to define a ‘Why’ for your business. This is what will drive your employees and attract your clients.
Your personal and business ‘Why’s’ are different but they are inevitably intertwined and co-dependent.
We purposely blur the lines and refer to each interchangeably.
Why know your ‘Why’?
Understanding ‘Why’ you’re running your business is fundamental for:
- A fulfilling work life
You’ll likely spend more time at work than with your family and friends. If you’re going to build something during that time, you’ll want it to have a worthy purpose and make a difference to others. - Inspiration for ideas
Creativity doesn’t come easily to everyone. But when you really understand your purpose, you’re more likely to be able to think ‘bigger picture’ and develop new ideas. - Easier decision-making
If you’re aligned with your ‘Why’, you’ll know where ‘true north’ is when it comes to making decisions. Staying true to yourself will lower the risk of short-sighted, poor decision making. - Employee engagement and commercial success
The author Simon Sinek says that “People don’t buy what you do, they buy why you do it”. He’s referring to the fact that both employees and customers will be attracted to your purpose, rather than just to what you do.
On this final point, there are thousands of businesses out there with no clear ‘Why’ or purpose. They are happy to tell you what they do and how much it costs (e.g. “Air-conditioners installed for $2,999” or “All haircuts $25”) but the whole experience just feels a little empty.
As human beings, we crave community and being around others with similar values. That’s why employees and customers will be attracted to your business if they first understand and connect with ‘Why’ you’re doing it.
Furthermore, if you’re able to help employees understand their own personal ‘Why’ with a business model that allows them to explore and achieve it, you’ll create a culture that motivates people to continue to improve and develop.
Why do we do what we do?
We walk the talk ourselves here at Eagle Financial.
So, before you start on getting your own ‘Why’ down on paper, let’s show you ours:
- To provide good advice because we know it can change the lives of business owners, their employees and their families and this gives our own lives purpose. The opportunity to work with such people is a privilege and the work we do is important and impactful.
- To provide each person that comes into our business with the best opportunity for a fulfilling career.
- To create the flexibility to prioritise family needs. No one should miss the ‘small’ things; family comes first.
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