Why Simply Having a Purpose Is Not Enough

"There is nothing inherently wrong with feel-good wordsmithing and catchy PR slogans, but you're kidding yourself if you think that alone will change your organization. You really need to get down to business and do the work." - Jon Duschinsky

Key Insight ??: Only 24% of companies who embrace Purpose embed it into their business model (and therefore reap the benefits)!

Food for Thought ??

https://www.digitalwonderlab.com/lab-notes/the-power-of-purpose-in-your-business-strategy

the centrepoint

In this issue of the centrepoint we discuss why it's so important to ACTIVATE your purpose—and why you're just spinning your wheels if you don't take this step in your purpose journey.

Your company's purpose statement must be more than just a catchy slogan on the office wall.

As we often say here at centrepoint, having a purpose is not a differentiator. Activating one is.?

Anyone can spend a few hours in a boardroom and come up with a nifty seven-word phrase that sounds great. But actually bringing it to life in an authentic way across all facets of the organization - that’s the work. But it’s also where the benefits are.??

And the benefits are HUGE.?

A recent global study by Zeno showed that consumers say they are six times more likely to defend a purpose-driven company in case of a public misstep, and they are 4.5 times more likely to advocate for the company and recommend it to friends and family.?

Now, these data points are about declared future intentions, and if I’ve learnt one thing over the years about people declaring their future intentions, it’s that they lie. Notwithstanding that, the point remains that people are much more likely to want to do right by a company or organization that it feels does right by them.?

And this gives me the chance to bring out one of my favourite quotes: if people know what you stand for, they can stand with you. And when things hit the fan, which they inevitably will at some point, to know that you have customers, fans, suppliers, and more who will stand by you when it matters….well, there’s almost no price you can put on that.?

Both my inbox and internet bookmarks are full to overflowing with surveys and studies that show how purpose-driven organizations have stronger brand reputations, more motivated employees, higher levels of innovation and creativity, a lower cost of capital, lower operating ratios, and so on and so on.?

And C-suites are paying attention. More and more organizations are claiming that they have a purpose. And they may be right. They may have come up with a purpose. They may even have stuck it on the wall.?

But they are not purpose-driven. To earn that distinction, you need to do the work. And it’s not easy.?

It requires visionary and strong leadership. It requires courage. It requires time and patience. And investment. It requires governance. And the participation of every single person in the organization.?

But when you do the work? Well, then you get the benefits!

We’ve tried to make it as simple as possible.?

That’s why we developed the Purpose Paradigm, as a proven framework for activating purpose.?

And the Paradigm Audit, which evaluates your company against each of the pieces of this framework so you can see where the gaps are and what you need to focus on.??

But they only work if you have the vision and courage to recognise that purpose is more than just a catchy slogan on the office wall….

If you want to find out more about the Purpose Paradigm or the Paradigm Audit, and activate purpose authentically in your organization, let us know. We’d be happy to help.

Drop me a line at [email protected].?

Or, book an appointment here: https://calendly.com/jonduschinsky-purpose/30min