The Power and Problem of ‘Why’ in Business
In a bustling business world, having a ‘why’ is like your morning coffee — essential, invigorating, and keeps everything running smoothly.
Simon Sinek, the maestro of purpose, says that understanding and articulating your ‘why’ (or purpose) is the secret ingredient to business success. But as any coffee lover knows, too much of a good thing can leave you jittery and off-balance.
So, what happens when your ‘why’ becomes less of an espresso shot and more of a bitter brew? This is precisely the question Paul Snell and I try to answer in an episode of Challenging the Norm. But before you rush off to listen, let’s look at what ‘why’ is and its role in business.
It’s Not Just About Profit
At its core, your ‘why’ is the reason your business exists and being about money isn’t enough. It must be strong enough to guide your decision-making and motivate you to act. While you might be saying ‘money’ will, making it about money (income or profit) can lead to decisions and activities that support short-term gain. So, if you seek sustainable growth, your why needs to go way beyond money and encapsulate your mission and core beliefs. Should answer fundamental questions such as:
- Purpose and Meaning: What reason does the business exist beyond making money?
- Differentiation: What sets your business apart and makes it meaningful to your customers?
- Motivation: What inspires you and your team to persist through challenges?
- Connection: How do you resonate and communicate with your target audience?
It will ensure that your message is strong and clear throughout your marketing. This will differentiate you from the competition and help you stand out. It will also keep you motivated to keep going when the going gets tough and inspire you to innovate and create.
So, when does your why become a problem?
Despite its transformative potential, it can also present challenges when not adequately managed or understood:
Rigidity: Clinging too tightly to the original ‘why’ can hinder innovation and adaptation. As markets change and customer needs shift, businesses that don’t adjust their purpose risk falling behind.
Disconnect: If not clearly communicated or doesn’t match the company’s actions (e.g., claiming environmental responsibility while harming the environment), it can drive stakeholders away.
Overemphasis: Focusing too much on the ‘why’ at the expense of operational efficiency or financial health can cause short-term setbacks or even failure. Solid business practices must back a strong purpose.
The above applies whether you own a small business, a blue-chip organisation, or are a solopreneur.
Equally, your way can be impacted by environment, circumstance, and experience. This means your why can change, which is okay—more than okay and natural. For example, the business why of a young entrepreneur will be very different from someone in their 50s with a family. It is what makes business exciting and interesting—and anything but boring.
Striking the Balance
Navigating the complexities of ‘why’ requires a nuanced approach for the reasons I’ve mentioned above and because we are all different. Then, because you and your business will evolve and grow, your responsibilities will change, so the following is required.
- Clarity and Flexibility: Clearly define your ‘why’ while remaining open to evolution. Regularly reassess how your purpose aligns with current realities and market dynamics.
- Authenticity and Alignment: Ensure your ‘why’ reflects genuine values and is consistently reinforced through actions and communications.
- Integration: Embed your ‘why’ into all aspects of your business—from strategy and operations to customer interactions and employee engagement.
- Listening and Learning: Stay attuned to feedback from stakeholders. Adapt and refine your ‘why’ based on insights and evolving expectations.
Ultimately, having a ‘why’ is like brewing the perfect cup of coffee—it’s essential, but only if you get the balance right. Too strong, and it’s overwhelming; too weak, and it’s uninspiring. It must be a perfect blend of purpose and practicality, giving your business the kick it needs without leaving a bitter aftertaste. So, embrace your ‘why’, but remember: flexibility and common sense go a long way.
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