Setting up the right foundations within your business

If I asked you why you do what you do, I foresee you would say something like:

‘I am passionate about helping others.’

Or

‘To build a future for my family.’

Perhaps it would be something like ‘to leave a legacy’.

And for some, it might be ‘to make lots of money’.

Those are all noble reasons to work and run a business. The problem I find is they are not BIG enough reasons to sustain long-term growth.

And that’s because they don’t guide the future direction of your business.

Take making money. We all need it. We live in a transactional society; we do a job and we get paid for it; we exchange money for a product or service.

Yet if we look at examples from those who are driven purely by financial gain, which is usually competitive in nature, they either make lots of money and lose it, or they spend their time and energy chasing money without really getting anywhere.

Simply put, making money is not enough of a driver to keep us on track. Looking at it another way, if you work just to pay the bills, then what you do will get boring and become just another job really quickly.

Running your own business is no simple task, it’s easy to get distracted, side-tracked, or get stuck if you don’t have a clear purpose for why you do what you do.

Getting to the core of your business

What’s missing is the bit that will drive everything.

Once upon a time, finding your purpose was easy. I love this example from ‘Story Driven’ by Bernadette Jewa

“When I was a kid, and maybe when you were too, every professional or craftsperson in the village, from the doctor to the baker, knew the particular role he or she played in the community. The people did business with pride. They and a purpose. They were clear about their values and the difference they made.”

Life is not like that anymore. There are many who do what we do. In this globalised, often online world, we can easily get lost, and lose our sense of purpose.

Your chance of succeed in business is higher if you know your why

And by that I mean, not only to you, but to those you seek to help.

Taking time to think about this and put those foundations in place that you can keep going back to, will drive your business forward and help with the day-to-day decision-making.

What do I mean by foundations? Let me break it down for you. I focus on three areas.

• Your purpose, which is your ultimate destination

• Your mission, which is how you will get there.

• Your values, which guide you on the journey.

Some of the greatest businesses started with a dream… a vision for the world bigger than them.

Close your eyes for a minute and let yourself dream. If your business could go anywhere, where would it go? How do you see yourself? What does it look like in 10 years? Get creative and dream big.

This is your vision.

Now you have to fill the gap between where you are now and that dream. The steps you will take to get there.

This is your mission.

And what’s going to keep you on track? Your compass will help guide you to your destination.

These are your values.

Getting these in place will create an exciting and ambitious purpose to aim for and a clear mission and values to achieve it.

Why do these matter?

Simply put, they drive everything. They are your foundations, your compass, and your road map.

In business, it’s easy to get really busy and forget why you are doing what you are doing. When that happens, it’s tempting to take every bit of work that comes your way. Soon you are one of three things.

Overwhelmed, disillusioned, or burnt out.

Your business plateaus and you find you are not feeling driven by it anymore. You lose your passion and forget why it mattered.

Once you have these three core foundations in place it makes strategy, planning and decision-making much easier.

Take this example. A colleague emails you and asks if you are interested in a piece of work. The money is good; the client is excited… it’s really tempting.

So you go back to your mission, purpose and values and you ask yourself;

‘Does this piece of work take me towards my goals?’

or

‘How does this piece of work take me towards my goals?’

Perhaps you find that the potential clients values do not align with your business values? Perhaps the work involved will mean you’ll have to be more hands on and you are looking for consultancy work?

It’s not always easy to say NO, but having this guide will help you make these strategic decisions.

These foundations will also help as your business expands and you hire and grow your team. Your values become your culture and your purpose and mission keeps your team aligned and connected. You all work towards the same goal and know what’s important.

You have a road map to follow that will get you to your destination. And you can keep going back to that map to make sure you are on track. Yes, there may be some bends in the road, but it’s basically still taking you where you want to go without too many detours.

Let your vision, mission and values drive your marketing

Another benefit of having your purpose, mission, and values in place is it drives your marketing. Marketing is another area where it’s easy to get distracted by the myriad of channels and marketing materials we can communicate through.

Should you start a podcast? What should you blog about? How about reels?

Going back to your foundations, ask yourself; do these efforts align with my purpose? Am I staying true to my values? Does this marketing support my mission?

All of this takes practice. It takes time and thought, but it’s so worth it in the long run.

Sign up for our weekly emails giving you a weekly dose of business advice; strategy, mindset, team growth and how to run your business more efficiently.