How To Create A Impact-Driven Business Strategy That Lasts: Purpose, Vision, Mission, and Beyond!
Having a clear strategic foundation for your company will make every move easier.
Your strategy forms the guidelines under which you to test new revenue streams, iterate your current services, and create new initiatives for social impact.
I break this down with the Strategy Pyramid, which you can see below:
In this article, I’ll break down each area of the strategy pyramid, and how to use them to guide sustainable growth as an impact-driven business.
Purpose — Your North Star 🌟
Your purpose is the answer to this series of questions:
Why does your company exist in the world?
What large problem(s) are you trying to solve?
What change are you ultimately trying to create?
It’s the most expansive part of your strategy. It’s the thing that you tell people that gets them excited about joining or buying from your company.
Examples of Purpose Statements
emote.design: To empower social enterprises to create equitable and systemic change in mental health, environment, and education.
Google: To organize the world’s information and make it universally accessible and useful.
Tesla: To accelerate the world’s transition to sustainable energy.
You can see that good purpose statements have a few characteristics:
- They’re concise and clear, not leaving too much up for debate.
- They’re BIG and leave room for many different types of products, services, and initiatives
- People can relate to and share your purpose
Your purpose, similar to your vision, should connect your employees, customers, investors, and other stakeholders to something bigger than them.
How To Use Your Purpose Statement