Cody Bjugan is a top American land development educator, visionary entrepreneur and founder of Allied Development & VestRight.
You won’t find anyone more excited about their business than an entrepreneur. They have a clear vision of the future and deeply understand the “why” that drives their daily passion.
But it takes a family of faith to grow a business’ legacy, and sharing this “why” with employees and customers is important in helping your team see the larger picture and adopt the same drive.
A McKinsey study surveyed 1,000 participants from American companies and found that “82 percent affirmed the importance of purpose, but only 42 percent reported that their company’s stated ‘purpose’ had much effect.”
Embracing purposeful entrepreneurship means focusing on your legacy by prioritizing integrity and striking the right balance between purpose and profits.
Define Your Why
A purpose-driven company begins with a compelling “why.” It has a clear defining statement that describes its values and goals. And it has a higher mission that drives the organization to give it meaning.
For example, the purpose of my company is to help foster vibrant, thriving communities, solve our nation’s housing crisis and assist landowners in fulfilling their legacy. This is our fuel for waking up and working hard day in and day out.
Leading With Impact
You want your purpose to be the primary driver in making decisions as an organization. When we define and share our purpose with others, we build trust, evoke meaning and connect on a deeper level with clients and partners. Success should be largely measured by the intentional, positive change we bring. For my company, that includes trying to help solve America’s housing crisis.
But there are hundreds of other purpose-built businesses to take inspiration from. One that stands out to me is Patagonia, an industry leader advocating for climate policy and funding grassroots environmental movements. Their organization donates 1% of annual sales to environmental nonprofits through its “1% for the planet” initiative. Patagonia’s purpose attracts individuals whose ideals are aligned to support a joint cause, giving everyone some degree of buy-in, whether as an employee or customer.
Creating Balance
Balancing profit and purpose is an ongoing act of maintaining financial stability while pursuing meaningful impact. The key is prioritizing your organization’s communication, transparency and ethical practices. This will help ensure you continue providing teams with a sense of fulfillment, knowing they’re operating within their ethical code.
Building A Foundation Of Integrity
Integrity separates those who claim to be and those who are purpose-driven. Companies can protect their integrity by creating core values that act as guiding principles influencing the organization’s attitudes, behaviors and decisions. These core values will influence transparent policies and practices that help individuals maximize their organizational impact.
The best way to gain mass adoption of these core values is by setting the standard as the leader. Those who serve at the tip of the spear set the tone for everyone else by demonstrating the highest levels of integrity through personal and professional actions.
Inspiring Leadership In Others
Leadership doesn’t know the difference between someone’s rank or role; it’s a trait that everyone can adopt. Good leaders inspire others to be leaders by helping them see how their efforts maximize impact. Maintaining trust through transparency is paramount when getting others to adopt leadership traits.
Promote a culture that allows open discussions of innovative ways to increase impact at any level of the organization. When someone wins, the company wins. That’s a simple concept that pays dividends for company and team morale. Celebrate the wins of employees and customers to make them feel heard and encourage more contributions.
Building A Lasting Legacy
Running a business extends beyond monetary success; it’s a way to cement a legacy that lasts generations. Goals like sustainability and community-focused initiatives are a great way to widen the scope of the business’s impact while painting a positive legacy. Building a network of other organizations with similar desires to give back to the greater good will maximize your company’s overall impact.
Overcoming Challenges
Learning and redefining processes for overcoming challenges is an ongoing task that will never stop. When overcoming a challenge, use your business’s desired impact as a north star to help navigate and avoid veering off track. Allow challenges and criticism to be valuable opportunities for growth and improvement.
Celebrate the victories, learn from the setbacks and consider how your organization’s impact sends positive ripple effects to other areas of society. My organization takes pride in building communities and supporting landowners, fostering local business growth and enhancing overall community activity through our impact.
I’ve discovered that approaching business this way helps promote thoughtful leadership and places your cause first in guiding the decisions you make at every layer.
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