Why is it you do what you do? It’s one of the most important questions in business, but something that too often we fail to consider.
When you implicitly understand your why, your business benefits in a whole host of ways. It helps you clearly define your ideal customer, market to them more effectively and allows you to differentiate from the competition.
In this episode, we delve into the why behind business, looking at:
- How you define your personal why
- Why it matters
- What the why of business means to both your and your customer
The Importance of Expressing Your Why
Regardless of where you are in the business journey, it’s important to understand the ‘why’ that underpins what you do. When you know ‘why’ you’re in business, you are better positioned to attract your ideal customer and find true joy in the business journey.
But for some, defining that why is a challenge. In some instances that’s due to a lack of direction, however, for many others, the challenge lies in the articulation, not the understanding itself.
What is Your Why?
Defining your ‘why’ is straightforward—it’s the fundamental reason behind why you do what you do.
Every business owner, at some point, consciously made a decision to start their enterprise. This decision stemmed from a specific reason or purpose. Understanding this core motivation is crucial.
Without a clear ‘why’, professionals may find it difficult to communicate their unique value effectively to potential clients.
The Next Step: Expressing Your Why
Once you’ve pinpointed your ‘why’, the next hurdle is expressing it in a compelling manner that attracts your ideal customer.
This can be a complex task. It’s not merely about attracting any customer but specifically those who resonate with your mission and can benefit most from your offerings.
Analysing Your Business Practices
To uncover your why, conduct a thorough examination of your business practices:
- Why do you do what you do?
- How do you do it?
- Who do you do it for?
- Where and when do you do it?
By answering these questions, you begin to draw a clearer picture of your ideal customer.
The Role of Passion
A vital component in this journey is passion. When you speak about your business with passion, it helps prospective clients identify the authenticity and enthusiasm behind the service. When potential clients see this enthusiasm for and belief in what you do, it distinguishes you as the right provider for their needs.
The Noble Ideal
Often, businesses are driven by an underlying noble ideal—something beyond just profit. Whether it’s about making a difference in the community or addressing a specific market gap, aligning with these ideals can strengthen your why.
Practical Steps to Discover Your Why
- Reflect on Your Beginnings: Why did you start your business? Dig deep into the motivations and desires that led you to this path.
- Ongoing Commitment: Consider why you continue in this business. What is the driving force that keeps you going?
- Impact and Legacy: What is the impact you wish to have? How do you want to be remembered by your clients?
Highlights
- [01:10] Understanding the Importance of Your Why
- [01:37] Steps to Discover Your Why
- [01:58] Expressing Your Why to Attract Ideal Customers
- [03:03] Identifying Your Ideal Customer
- [03:30] Deep Dive into Your Why
- [04:11] Connecting Your Why with Your Product’s History
- [04:51] Simplifying Your Business with Your Why
Resources
Discover More in Honing Your Vision and Mission
Values, Mission, and Vision are the foundation of a business. Understanding them clearly makes for a more simple business life.
In this mini-course we look at what Vision and Mission are and how to hone yours.
This course will lead you through the difference, how to create each and why they are vital to your success.
