Have you ever had a great idea for a business, or even pursued starting one, but then it eventually fizzled away? Or, have you hopped from idea to idea without much success?
There are many reasons why a business might not last or not even get off the ground, but for many, they never reach their full potential because they never really established their true purpose of “why”.
There are many “whys” for starting a business:
• To make extra money
• To replace full-time work to pursue a passion/be more creative
• To have more financial independence
• For more freedom/being your own boss
• Have more time flexibility for family, and more.
But if you lose sight of why you wanted to start the business in the first place, or never really had one to begin with, it’s nearly impossible to keep fueling the business. This especially becomes true as you get caught up in the nitty-gritty of running the business.
“When you know your ‘why’, on the toughest days of building your online business you are able to pull from that, and I’m telling you if you haven’t experienced it already, there are some tough days ahead. Every online entrepreneur that’s been at this for a while knows that.”– Amy Porterfield, Online Marketing Made Easy podcast episode 226
Let this post serve as your personal reminder to take a personal inventory into why you want to start a business, and why this one in particular (or why you did if you already have one). As Entrepreneur wrote in 2020, “purpose and profit are delicately intertwined. Perhaps, you can have one without the other, but as we move forward into a more millennial- and Generation Z-led workforce (those born between 1983 and 2003), the case for having both becomes far more compelling. And yes, profitable.”
By drilling down and defining your “why”, you will have something to motivate you when the going gets tough – which it will. Having a clear mission and purpose will not only help keep you motivated, it will actually help focus you when making important decisions for the business. It will give you a consistent lens to look through to limit the endless opportunities so you don’t get overwhelmed and lose focus. It’s not just a “nice-to-have,” but really a necessity at the core of your business.
A clear “why” will not only keep you (and anyone who works for you) motivated and focused. If you have a “why” and it’s clear that you live by it, it will show – and potential customers and clients will notice.
With all of this in mind, think about what your “why”. Keep it in an accessible document that you can return to and update. Once you’ve defined your “why”, you can confirm that you are in the right business for you, or discover what shifts you need to make in your business to make it truly rewarding for you.
What is your “why”?
The Importance of Finding Your “Why” When Starting a Business
March 22, 2023