5 essential questions to determine your business’s purpose

Determining the purpose of your business is one of the most important decisions in any company’s journey. Whether you’re in the planning stages of your business or redeveloping a marketing plan after years in the industry, it’s never too late to determine your business’s purpose.

What is a business purpose?

At its core, a business begins with a few factors: why the company started, what it will offer, and what consumers can expect. Determining your business’s purpose is more than checking something off a new business to-do list; it guides each and every decision in the company, from who you hire to how you communicate with clients.

Each business decision becomes easier when you’ve already defined your company’s sole purpose:

• Hiring the right employees
• Deciding on your market, prospects and the people you want to do business with
• Crafting creative briefs to steer projects in the right direction

Finding your company’s purpose doesn’t just help make expectations clearer for employees—it also makes it easier to communicate a strong message with consumers who value authenticity and trustworthiness.

5 questions to determine your business’s purpose

1. What do I want my business to stand for?
2. Why was my business started, and what is its primary goal?
3. What do I want the business to be recognized for at the end of each day?
4. What can the business do that is more significant than any other?
5. What makes the business most successful?

You probably won’t be able to answer these questions quickly and you might not be able to answer them alone. Spend time reflecting on the questions and how their answers fit your long-range objectives. Consider sharing the questions with employees for their feedback and a well-rounded look at your company.

Find your sole and soul purpose

Determining your business’s purpose shouldn’t just be choosing buzz words. It’s the backbone of each decision of your company, so carve out time to discern it today.