Studies have shown that only 25 percent of companies survive the second decade of successful management. In other words, the vast majority, 75 percent, of entrepreneurs stop their activities within ten years. So yes, making a business successful and sustaining it for over a decade is a hopeless task for most. Even if you work hard, with smart strategies and creative plans, something more powerful is needed to sustain the business for a long time. What can help a business last longer and be more successful? Yes, you guessed it, the answer is purpose, and it makes a big difference to a business.
All businesses are not just about profit or success. The truth is you don’t just have to focus on winning to be successful. To run a business with a purpose, you need to focus on the service your business provides and how it can help customers and the community. Success also comes when you truly care about your customers. Direct selling entrepreneurs with a sense of purpose have an idea or service they’ve always wanted, an idea that can help others. So instead of focusing only on profit, it will be more successful if you run a business that can help and support.
This article discusses three reasons why purpose-driven business is more successful. Learning the importance of purpose can transform your business.
3 Reasons Why Purpose Driven Business Succeeds
Business with a Purpose Has a Great Social Impact
More than profit, a business with a purpose and motivated to provide good service matters. If you only aim for profit, people will not find any value in your business because many companies are only focused on profit. But real success is when you strive to provide good products to customers. The service you do and the social responsibility you bear show your purpose. Corporate social responsibility includes sustainability goals, community development and philanthropy. So, your role in the community, the service you provide, and the benefits your products bring to customers are all factors that influence success. Hence, the goal of your business and how well you make it happen will help you run a successful business.
Gain Unwavering Customer Support
One of the most important things you need to stay in business and succeed is customer support. Their loyalty and support can even see you through tough times. Customer loyalty is hard to achieve; take the time to gain their trust and make your business known. But providing the best service does not go unnoticed. Customers always remember good service and products. The most direct path to success is also the same; it is to provide good products and services. So, if you are in business to help, not just focus on profit, you will have unwavering customer support.
Make your Business Last
As I said, not all businesses last long. Many quit within ten years. But in targeted trading, this is not the case. A company that has a vision and helps people is useful and valuable to them. People would wish that such a company would exist for a long time, unlike a company that provides similar services and products to other companies in the industry. Yes, your business purpose sets you apart. So, all these factors can strengthen your business and increase its value, making it last for a long time.
A business is only successful if it lasts a long time, is stable, overcomes obstacles and has customer support. Running a business with a purpose means having all these elements and having a good chance of winning. We all know that profit is the main priority in business, but the only thing to pay attention to is that it should not be the only priority. By truly caring about your customers, you will set your business apart and reach new heights. Know what they want and need; your company should be supportive and helpful; if that is your intention, your success is guaranteed.
