For many, profit is seen as the pinnacle of success, a sign that a business is thriving.
But to me, profit is an outcome.
It is the result of the many things we do in our business.
Is there ONE thing that can have a greater impact on profit?
Undoubtedly YES.
If a business is DRIVEN by passion and GUIDED by purpose, then profit will follow.
What is Passion?
Passion is more than just enthusiasm or excitement; it is a RELENTLESS drive that propels you forward.
It’s what gets you out of bed each morning, eager to face the day’s tasks.
Passion infuses your work with energy and dedication, making your working hours not just bearable, but enjoyable.
Without passion, the daily grind can quickly become just that—a grind.
What is Purpose?
While passion provides the energy, purpose gives direction.
Knowing your 'Why'—the reason you started your business in the first place—is crucial. It could be a desire to fill a gap in the market, to serve your community, or to provide a life-changing product or service.
This purpose is your compass, guiding every decision and strategy.
It ensures that every step taken is a step towards a more meaningful goal.
When passion and purpose ALIGN, profit follows (Check out this blog if you need to understand what profit is).
This is because a business grounded in genuine passion and clear purpose attracts customers, engages employees, and stands out in the market.
Your enthusiasm for your work resonates with customers, building loyalty and trust.
Employees are motivated by a vision they can believe in, leading to increased productivity and innovation.
So, what you can you do if you are stuck in the daily grind and have lost sight of why you went into business?
1. Reflect on why you started your business. What excited you in the beginning? What were you trying to achieve? What was the reason(s) you chose self-employment over employment?
2. Clearly articulate your business's purpose. This should be more than making money—it’s about the impact you want to have on your customers and your staff. Put it in writing and refer to it often. Use this purpose to guide every decision and strategy.
3. Share your passion and purpose not just with your team, but with your customers. When people understand your 'Why,' they are more likely to connect with your brand on a deeper level, leading to increased loyalty and engagement.
4. Align Goals with Purpose: Ensure that every business goal or objective is a stepping stone towards fulfilling your purpose. This alignment keeps your business cohesive and focused on the bigger picture.
5. Encourage your team to find their own passion within the scope of your business's purpose. When your employees are as passionate about the goals as you are, productivity and morale will naturally increase. Reflect on Your Origins: Revisit the reasons why you started your business. What excited you in the beginning? Reignite that initial spark.
Without passion and purpose, there is no profit!
If you are willing to put in the time and effort required to learn and implement strategies that will help your business achieve profitability, get in touch!
I’ll set up a zoom and get to know more about your business!
Not quite ready for that but know this is the year to make more money? Sign up here to receive my weekly email - practical business tips and tricks.