Why your business ‘why’ matters for success

Striving for success is a core driver of organisational performance. Without getting hung up on the notion of success – i.e., what it means for different organisations – at the end of the day, every workplace is wanting to achieve it.

In a fast-paced world, it’s easy for organisations to get caught up in the doing – or the ‘face’ of the business. The day-to-day transactions, processes and operations that churn out products and services, bring in clients, and sell to new customers. Activity that is all geared toward increasing performance and profit.

However, behind the transactional and operational functioning, is where the ‘heart’ of the business lies. And it’s this – the ‘why’, the vision and mission – which is the most critical element for business success.

Despite the significance, however, it’s an area that is oftentimes overlooked, or put aside – especially when organisational performance is operating well. But what happens when things aren’t working well? When performance plateaus, sales stall, clients leave, or employees become disengaged? Or when an event like the pandemic enters centre stage and changes the face of how we do business? How can an organisation that hasn’t connected with the heart of their business, or has a solid, defined mission or vision that acts as a north star to govern and lead business growth, continue to move forward?

If your business was asked the question, “Why does your organisation do what it does?” is it a question that can be answered? It’s worth considering – not just because of good practice, but because of the impacts it has to key areas of business, such as marketing, sales, recruitment, retention and operational decisions. 

• The ‘why’ informs language, marketing and ultimately adds credibility to the business. For example, the phrase “We sell plants” versus “We believe in the power of social responsibility, and in protecting our planet through sustainable living” have vastly different connotations, and, therefore meaning. 
• The ‘why’ builds better cultures and helps motivates employees. This is particularly important for younger generations where finding purpose and a ‘why’ is a critical part of their lives and choices for both selecting and remaining with an organisation.
• The ‘why’ helps inform decision making in the best interests of the business, by aligning with the core values, which don’t change.

To grow – not just in profit, but to both attract and build highly functional teams of quality talent – workplaces must understand their ‘why’. Taking the time to answer the question, “What’s your why?”, identifying core business values and translating that into day-to-day, will help ensure that business performance and trajectory for success remains on a path.