How to start an impactful business with an impactful purpose
7 mins read

How to start an impactful business with an impactful purpose

Opinions expressed by Entrepreneur contributors are their own.

Purpose at work is crucial if you love your job and want to have a meaningful career. I know that from experience. Before I joined StoneAge, the world’s leading manufacturer of industrial pressure washers, over 16 years ago, I was aimless and lost – which in part led to addiction issues and low self-esteem. I was unhappy in my job at the time which caused me to underperform which made me even more unhappy. At the time I didn’t understand the value of purpose, let alone why purpose should resonate with me – to be honest, I didn’t understand what purpose was. Worse, I was aimless myself. All of that collapsed when I overdosed in 2006. To recover and heal, I moved home with my mother to rebuild my life after an overdose in 2006.

Fast-forwarding a decade and a half later, I now realize how common this is. Maybe not the overdose part, but feeling miserable at work because your purpose and the purpose of your organization either don’t match or don’t exist. Working at StoneAge has taught me the power of a company’s purpose to motivate employees and help them find more meaning in their work. Now, every day, I live my personal goal – to be an impactful leader, improving the lives of my clients and teammates – and am inspired by our company’s goal of helping our clients go home to their families less stressed and safer each night go, because we create products that help them to do their demanding jobs more safely, easily and better. When you help your people harness the power of purpose, you can create an unstoppable organization. But it’s not easy unless you have a clear business purpose.

See also: Why a purpose-driven company is the real key to success

So why is it so important to have a clear business purpose? When people are inspired and aligned with a purpose, a business can easily attract and retain employees and build a loyal customer base. Having a higher purpose can help a company make a positive social and environmental impact that can benefit society – which I believe should be a mission of all leaders. Most importantly, a clear purpose helps leaders make better strategic decisions that align with their values ​​and goals and lead to long-term success.

Do not believe me? Check out Fortune Magazine’s “List of Most Admired Companies.” According to Korn Ferry, 97% of leaders at companies that made the “Most Admired Companies” list said employees embrace the organization’s purpose, and 95% believe their organization’s purpose aligns with the vision of the company and goals. Leading with meaning leads to success.

Take Patagonia for example. Patagonia has a higher purpose, to save the planet from the devastating effects of climate change. In fact, Patagonia donates 1% of sales to preserving and restoring the natural environment. This purpose is evident in every aspect of the company’s operations, from its sustainable manufacturing processes to its political commitment and support for environmental causes. Patagonia employees are deeply engaged and motivated by the company’s mission and find meaning and fulfillment in their work. This, in turn, has helped Patagonia build a loyal customer base and become a leader in the sustainable apparel industry.

How should a company go about developing a higher purpose? Here’s what we did:

We defined the impact we wanted to achieve

We manufacture high pressure industrial cleaning equipment and serve a notoriously dangerous industry – cleaning industrial facilities such as refineries, chemical plants, power plants, food processing plants and more. Our products make dangerous and difficult work easier and safer. And our customers, despite being an essential part of the supply chain, are often viewed as glorified janitors, an undeserved label imposed on a critical industry.

Industrial cleaning companies count on us to help them get their jobs done on time, on budget and as safely and easily as possible. We understand that our products, backed by our commitment to service, make your life easier. We also understand that without industrial cleaning, the manufacture of everything we humans use on a daily basis would come to a halt. Quite simply, the world is dirty and we help keep it clean so you don’t have to worry about it. We have clearly defined how we positively impact the world, which motivates us to innovate products and serve our customers better.

See also: 3 reasons why a strong purpose is a good business idea

We didn’t just align our purpose with our values, we made our purpose a value

We believe in keeping things simple. We don’t want our values ​​to be an eye-rolling poster hanging on the wall. As such, we’ve narrowed our values ​​down to three principles that our associates can understand and address: practice self-leadership, be a great teammate, and deliver on the StoneAge Insurance Promise. The StoneAge Assurance Promise is our commitment to do whatever it takes to help our customers complete their cleaning jobs safely, on time, on budget and as easily as possible – our goal.

We engaged stakeholders throughout the organization

A higher purpose is not developed in a boardroom by senior management, at least not one that stakeholders will be inspired by. So we set about hiring our team. Together we developed the StoneAge Assurance Promise and our other two core values. Then we asked our customers what they thought of it, and the feedback was consistently positive. We hit a home run; Our purpose perfectly matched what our customers needed and wanted from us.

We continuously communicate our purpose

What good is a higher goal if no one knows what it is? That’s why the StoneAge Assurance Promise is ubiquitous. We discuss daily how well we are delivering on our promise to our customers, and recognize employees who go above and beyond in delivering on the promise. It is embedded in our hiring and onboarding practices and our performance review process. It is also included on our website and in marketing content; Our customers even talk about it. Undoubtedly, our purpose is embedded in everything we do as we are committed to communicating about it regularly.

Related: What is your goal? 5 reasons why you need to set one up for your business.

After all, we lead by example because we embody our purpose

Every day, our employees lead by example by taking actions and making decisions that align with our higher purpose. Our commitment to our promise creates trust and credibility with our customers and each other. Each demonstrates the company’s commitment to its cause; there is no StoneAge without the StoneAge Assurance Promise.

Aiming higher is essential to a company’s success and should be a priority for leaders. When you help your employees understand and embrace meaning, you create a more engaged, motivated, and purposeful workforce that is aligned with your organization’s mission and values. The results can be outstanding when done properly – long-term success and positive impact on society.