First of all, if you are asking this question, you should be proud of your thought process. This is a very crucial question if you are running a business or a start up. Both, profits and purpose are insanely important for your brand. But, when it comes to choosing one, you should always be very sure about your choice. Hence, the importance and significance of this question! To say one is more important than the other would be unfair because the brand cannot exist without either of the two. But yes, there are times when you have to focus on one of the two. And more often than not, it would be purpose. Here’s why!
Purpose Leads To Profits
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The truth is that there is no choice between purpose and profits. If at all, you are in a position of making one, it is going to be a false choice. Because the truth is that your brand’s purpose will lead your business to profits. Can you choose between your brand and your business? Of course not, because it is a stupid question. Your brand leads to your business. The larger the brand, the larger will be your business. The more you work on the purpose of your brand, the more profits your business will gain. Purpose-driven business ventures have a proven track record of making enormous profits. Both the logic and the data backs the statement – “purpose leads to profits”.
Everyone Associated With Your Brand Is Happier And More Satisfied
When your brand has a clear purpose and also has an undivided focus on it, EVERYONE associated with the brand identifies and accepts that purpose. Employees feel the sense of unity and belongingness which improves employee satisfaction. Needless to say, satisfied employees are more productive employees. The clients/customers relate to the brand’s purpose and appreciate it. This helps you build a loyal customer base. Every other stakeholder also stands behind the brand’s purpose. This helps your brand gain unprecedented support and motivation.
Your Brand’s Purpose Makes It Unique
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Every business will run behind profits because at the end of the day, it is all about money. And in that race, many will leave their purpose behind but not you. Your brand will keep its focus on the purpose and hold its ground. This will differentiate your brand from the others and make you unique. Everyone loves a unique and exclusive brand, don’t they? Focusing on your purpose gives you an opportunity to create your brand’s USP. The Unique Selling Point is the most important aspect for any brand to survive the fierce competition in the market.
So, the bottom-line is to find your brand’s purpose and stick with it. That’s the only way to becoming the horse that can win the long race.