Tell A Purpose-Driven STORY

Hello, and welcome to the 9th edition of the Impactful Influencer Newsletter.

Today we're going to look at why purpose-driven businesses WIN, and why you should tell a story that supports yours.

Because I love to create incredible value for my subscribers - I am also going to give you a storytelling framework to reveal the passion and purpose that underpins your OWN business, and will contribute to its success.

There is much evidence to suggest that purpose-driven businesses, which have a societal or environmental goal in addition to profit, are more successful over the long run compared to purely profit-driven businesses.

Here is some data to support why purpose-driven businesses WIN:

1. According to a study by EY Beacon Institute, purpose-driven businesses outperformed their peers in terms of financial performance over a 10-year period (2005-2014), with an average annual growth rate of 10.5% compared to 4.5% for their peers.
2. Purpose-driven companies are more likely to attract and retain customers who share their values.
3. A recent survey by Accenture found that 65% of consumers are more likely to buy from a company that takes a stand on an issue they care about.
4. Purpose-driven companies are more likely to attract and retain employees or team members who share their values.
5. According to a study by Deloitte, employees who feel a strong sense of purpose are more likely to be engaged and committed to their work, which also leads to higher productivity and lower turnover.
6. Purpose-driven companies have been proven to be more innovative and adaptable to changing market conditions.
7. According to a report by Harvard Business Review, they're more likely to invest in research and development. They take a longer term view of their business strategy and goals, which leads to the creation of more innovative products and services.

Leading With Purpose Is A Proven Route To Success.

Today, buyers are seeking out more than a transactional relationship with brands.

Especially in our turbulent times, and with such a transparent online landscape, consumers are more picky than ever, and they want to buy from companies they feel care about them personally, that align with their values and and that back the issues that are important to them too.

Here are some examples of purpose-driven brands that have been highly successful:

Patagonia:

Patagonia is an outdoor clothing and gear company that has a strong commitment to environmental sustainability.

The company's mission is to "build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis."

Patagonia been successful because of their focus on high-quality, durable products that last a long time.

This aligns with their commitment to sustainability.

The company has always been vocal on issues such as climate change and public land protection, which has helped to build their loyal customer base.

Toms:

Toms is a shoe company that has a "one for one" model, where for every pair of shoes purchased, the company donates a pair of shoes to a child in need.

Toms success comes partially from its commitment to social responsibility and a focus on creating products that have a positive impact on the world.

The company has also expanded its product line to include eyewear and coffee, all with the same mission.

Ben & Jerry's:

Ben & Jerry's is an ice cream company that has a strong commitment to social and environmental responsibility. Their mission is to "make the best possible ice cream in the nicest possible way."

I love their tagline: 'Happy cows, a happy planet'.

Ben & Jerry's has been successful because of its focus on high-quality, creative flavours, but also because of its commitment to issues such as climate change, social justice, and fair trade.

Being Driven By Purpose As Well As Profit Is Great For ALL Businesses, Not Just Large And Well Established Ones.

Brands like Patagonia and Ben and Jerry's commitment to purpose is HOW they grew to the size they did.

Of course, I don't mean to be flippant about all the other disciplines involved in building a great business, but here's the difference:

Purpose Provides The Drive To Succeed Through Tough Times

Helping you bounce back from setbacks and stay current.

It's like your business 'North Star' - providing direction, focus and meaning for all involved.

So now you may be wondering, as a micro-business owner or SME, whether YOU have a strong enough purpose, and how you can demonstrate your commitment to this.

If your business has no purpose other than to make as much profit as possible, I invite you to UNSUBSCRIBE from the Impactful Influencer and UNFOLLOW me, as over time, my content will just annoy you.

Besides, you're never going to be a client of mine, because you won't want to invest in your growth.

You'll always be grabbing for the cash, short term, and that will make us a really bad fit for each other. Because I believe consistent, sustainable growth is infinitely better than the 'hit and run', 'churn and burn' tactics deployed by businesses who are profit-driven only.

By now you'll realise, that I'm super passionate about MY purpose, which is to empower entrepreneurs across the world (and their families) to connect smartly - and enjoy the benefits of a fabulous business that also makes the world a better place.

Luxury Brands Can Be Purpose-Driven, Too

I'm a brand marketer through and through, so if you're thinking about all those luxury brands that only the wealthy can afford, my belief is this:

Luxury brands make the world a better place - giving us beauty, hope, aspirations, examples of fine workmanship etc.

Plus many elite brands as well as their owners use their wealth for causes they care about.

Even in elite markets, you can be purpose-driven and you can make a positive impact in the world.

For example: Net-A-Porter's magazine Porter dedicated a recent issue to raising awareness about issues related to the preservation of the world's oceans, and says: "Our aim is to give a voice to brands that are truly making positive changes by providing them with a platform to highlight their best practice."

How To Tell Your Business Brand Story.

For most service based business owners, founders and consultants your business brand story will be connected to your PASSION.

Remember, if your only reason for existence is to make profit, no-one’s going to care, because that’s a selfish message that’s only about you.

So, your business brand story will help you describe why you are so passionate about what you do.

That is what will make you more valuable, meaningful and interesting to others.

You could tell your business brand story in, for example, an interview, or a talk you're giving.

Or you can weave it into your social media or make it the structure for a book.

Framework For Your Purpose Driven Brand Story

Now and as promised, I'm going to give you a FRAMEWORK to tell your brand story in a meaningful and purpose-driven way.

Let's start with your calling, in other words that moment when you knew that your business idea was perfect for you.

What was the catalyst?

What happened in the run up to this?

What was your state of mind and your practical circumstances?

What pain or challenge were you facing that made you want to succeed?

It's really important not to sugarcoat your journey and talk about that realisation or moment you knew you something had to change.

For me, for example, as a single parent, I was not seeing my young children and had to delegate their care to a nanny.

It became my number one goal to earn money a different way. This that’s what got me started on the path of entrepreneurship, and made me value the freedom and flexibility I now help others achieve too.

The next stage in your business story is to talk about the journey – all the things you tried and failed at, and the challenges you encountered along the way - before you found the 'formula that worked'.?

You’re going to go on to talk about the hallelujah moment or breakthrough – how you came across this discovery, what emotions you felt when you did, and how and when you realised this was something that could be of immense value to others too.?

Of course you then have to back this up with social proof in the form of concrete, tangible evidence for your success. This can be your own results, but it's most powerful when you can show how other people have benefited from your commitment to your passion and purpose too.?

Never underestimate the power of reviews, case studies and testimonials to back up any claims you make, especially when they relate to your purpose.

The example I used above is a founder and personal brand rich origin story.

If your business is larger or more complex with several iterations of its growth, let's talk.

We'll get it dialled in perfectly to get your purpose-driven story out there and working for you in the world.

Well that's it for another edition of the Impactful Influencer. I hope you enjoyed reading. Please like, comment and share to your followers so my message can reach more people, and don't forget, I'm only a call away if you want to find out how I can support your growth in 2023:

https://idealclientsuccess.com/zoom30

#branddevelopment #brandbuilding #businessowner #thesmartconnector

PS I want to give a big SHOUTOUT to ChatGPT, the AI driven platform that provided me with all the fabulous data to populate this newsletter. Check it out if you haven't already!