4 Things To Know Before Starting Your Purpose Led Business
The older we become, and the more genuine life experiences we have, the more we realise that we all have a desire to live a life filled with purpose and meaning. Adulthood presents a time to discover and fulfil that purpose. For some fortunate people, this comes with ease. It takes much mental effort and self-awareness to arrive at a place where a personal purpose can be translated into real-life or to a business idea. Many of us would value a purpose that can be monetised. Creating A Brand Creation as a brand and marketing consulting agency came naturally because the business purpose was derived from a defined and clear personal purpose. As poetic as that sounds; realising, developing, and fulfilling a personal and business purpose is not simple. Starting and sustaining a business based on purpose is even more challenging.
Here are 4 things we have learned from starting a purpose-led business:
1. Practice and learn how to clearly articulate your purpose to different audiences
You know your purpose best and how it relates to your business idea. Prepare a messaging hierarchy that can help you translate this to different audiences. Be prepared for all sorts of responses. Some may respond in awe and others with aloofness. Accept this, and don’t let it discourage you from learning how to better communicate your purpose and business idea with conviction. Your purpose will need to make sense to make cents.
2. Read, a lot
Reading is important for several reasons. Beside boosting and informing your creativity, it exposes you to new things and ideas. It can provide new information, new ways of solving business problems, and new ways to achieve your goals. Reading can help in understanding the world in which your business operates. A greater understanding of a topic of interest can be gained from reading. Most importantly, reading helps build your self-confidence and informs your planning. It can assist in creating a structured path towards better actions to take in the future. It will hasten the achievement of your planned goals. Lastly, it will positively contribute to better communication, structuring of pitches, and holding difficult conversations with clients.
3. You will need to give thought to your goals, a plan, and start-up capital
The amount of start-up capital varies depending on your goals and intentions. A dream and purpose do not a business make. You need to plan in detail to arrive at a well-informed amount for capital. Planning helps a business identify its goals. It is preparation for the future. Planning can be done in phases. Consider creating a short-term, mid-term, and long-term plan. Preparing for the future allows you to take into account the full impact you want to make with your offering. It helps you put steps together for your success. Surround yourself with people who have the same or similar purpose. Stay focused on your plan and the management of income and expenses. It is easy to get distracted. A plan will help you stay on track.
4. Don’t be discouraged by a “saturated market.”
Running a brand and marketing business in a saturated industry can be challenging. A Brand Creation operates in Cape Town, South Africa - a hub of branding and media creativity. The competition is tough, to say the least. Fortunately, A Brand Creation manages to find clients or our clients find us. Our authentic purpose attracts the right clients. Identifying and focussing on the one thing that makes your business different and better than your competition will help a business produce results.
For A Brand Creation, finding a niche audience and refining the specialty offering of Branding for Social Impact is a how we compete in this saturated market. Our clients share a common purpose and brand intent. Our intent has always been and will always be - to be of service to our customers and the communities that allow us to exist. That is our responsibility and our purpose.