Simon Sinek’s research in “Start with Why” has shown that, “People don’t buy what you do, they buy why you do it.” This applies to customers and employees. If you want committed, loyal, driven employees they need “to buy why you do it.”
Why do you do it? Are you making widgets because of “what” they do and you can make a profit? Or do you make widgets because that can fund a better world and change people’s lives while making a profit? The later purpose is one that would inspire employees and it might just make you an inspirational leader.
Therefore, do you have a clear, compelling “Big Why” for
your company, organization or team?
Next week we will discuss what that simple step can do to inspire your employees, team or even volunteers. I am a businessman though just like you, so for this week let me take you right to the bottom line.
Those companies that aren’t just “in” business to make money but are driven by “purpose and passion” first – make MORE money than those that aren’t. I would say it’s those companies that have a “Big Why” verses just a “Big Spread Sheet.” Here’s the proof:
The “Firms of Endearment…” “returned 1,026 percent for investors over the ten years ending June 30, 2006, compared to 122 percent for the S & P 500; that’s more than an 8-to-1 ratio!”
Over a ten-year time period these same companies (all publicly traded by the way) even outperformed Jim Collins “Good to Great” companies “1026 percent to 331 percent (a 3-to1 ratio.)”
These stats are from the 2nd edition of the book, “Firms of Endearment” subtitled: “How World-Class Companies Profit from Passion and Purpose.” Get it. Read it. Live it.
How would you like your company to achieve those kind of returns? Those companies operate with passion and purpose. A “Big Why” is ALL about passion and purpose. Leaders who have passion and purpose are inspirational….
Get clear on your own “Big Why” then get a “Big Why” for your company and you will be well on your way to becoming an inspirational leader. In next week’s blog I will share how to bring inspiration to your company and super charge your employee’s inspiration.
What’s your “BIG WHY?”
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