What is your WHY?

by Grace W. Ueng, CEO Savvy Growth

Eight years ago, my client and friend Ping Fu invited me to dinner at her home with Simon Sinek. Simon was speaking the next day at the company Ping founded, Geomagic, which has since been acquired by 3D Systems. I immediately said yes, not because I was intrigued by Sinek's book, Start with Why (at least not yet), but because I always enjoyed spending time with Ping and was curious to meet this individual for whom she had such great praise. It was such a pleasure getting to know Ping through the years, working with her on key milestones including being named Inc. Entrepreneur of the Year as well as the publication of her memoir.

Last month, I had a closure coaching session with a leader at a fast growing technology company. In my desire to hold her accountable even after our work together was officially complete, I asked what resources she'd continue to utilize in the months to come. She said she would watch Simon Sinek. The next week, another client asked me to review his 360 feedback. One of the comments jumped out - that colleague would like my client to lead more from "WHY?"

In thinking through what Simon shared from his presentation at Ping’s company, along with what I have learned over the last three decades working in-house on leadership teams as well as a coach and consultant for clients, here are my 3 top takeaways:

-- Know WHY you are in business. Invest time on articulating concisely your mission and vision. Dig deep inside. This will create trust and in turn, loyalty. Trust is a feeling, not a checklist. Loyalty is what makes customers continue to choose you even if you aren't necessarily the least expensive or the closest to reach.

-- The best leaders are those who INSPIRE. They think through WHY they do what they do, i.e. WHY their company is in business. Their goal is not to hire people who need a job and a paycheck. It’s to hire people who believe what the leader believes not because they have to, but because they want to. They put in blood, sweat, and tears out of passion for the WHY. The best leaders keep the WHY simple and easy for all to articulate. These leaders exude their WHY consistently in all of their communications and actions. This inspiration trickles down throughout the organization to all team members and, in turn, into the company's products and services.

-- Knowing WHY your customer buys is important. Good leaders know that competitors can copy what they do. And that 95% of businesses fail within 3 years. The successful leader and company is able to articulate their purpose, cause, and belief. The human brain makes purchasing decisions on these factors. The goal is not just to sell to people who need what you have; the goal is to sell to people who believe what you believe. Getting into the mind of your customer through ongoing market research is paramount.

The next time you decide to think about WHAT you do and WHAT your company does, instead, invest in thinking of WHY.

If you enjoyed this post, please "like" and include your comments. If we can help your company tackle challenges or coach your leadership team, we'd love to hear from you.

About the Author

Grace Ueng is CEO of Savvy Growth, a boutique management consultancy and leadership coaching firm founded in 2003, whose mission is to help companies and their leaders achieve their fullest potential.

Grace and Savvy's Managing Director, Rich Chleboski, lead the development and implementation of strategies to support the growth of impact focused companies. Before starting Savvy, Grace held leadership roles at five high growth tech ventures that exited through acquisition or IPO. She started her career at Bain & Company and after graduating from Harvard Business School, worked in brand management at Clorox and General Mills.

Rich, her classmate from MIT, is a senior executive with three decades experience growing large and small technology firms. Throughout his career, Rich has combined technical, financial, strategy, operations, and business development skills to solve complex problems. He co-founded Evergreen Solar and as its CFO led the start-up through four rounds of VC funding, an IPO, several post-IPO financings and to a market cap of over $1 billion with more than $300 million in revenue.

Our team's expertise spans all phases of the business from evaluation through growth and liquidity. Savvy works with your team from discovery through implementation to ensure the success of your venture. We are hired by the board of directors or the CEOs of their companies at key inflection points. We become an extension of your C-suite and act as your thinking partners to help you develop and implement growth and transition strategies. 

View 2 min introduction to Savvy Growth. Contact us for a complimentary introductory consultation on a challenge you're facing. Savvy Growth has served 200 clients from emerging growth to the Fortune 1000. We look forward to helping you!