Why are you in business?
Why are you in business?
The answer to this question may seem obvious on the surface. When I ask this question to business owners, many of them offer answers like:
To make money
To have more freedom and flexibility
To live life on my terms
To do the kind of work I want to do
And all of these answers are legit. In fact, they all factor into my own reasons for starting and building a business.
But for me, those answers have never really been enough to help me ride out the ups and downs of business ownership. This question - why are you in business - is a question I have wrestled with off and on over the years.
When I first started my business, I was incredibly clear on my why. I wanted to help women business owners be more confident. To ask for what they wanted. To make money and have more freedom. The ability to do that on my terms, in the way in which I wanted to do it, were cherries on top of the business owner sundae.
As I got into the grind of growing my business, that deeper reason, despite working with women on this very thing, got lost. I got sucked into the doing. The activity. And while all of that was necessary for a while, it felt like something was missing.
After a series of pretty significant events rocked my business to the core, I realized that I had lost sight of what was really important to me. Yes, my earlier reasons were still valid, but my why - the real reason I wanted to do the work I was doing and had neglected - was actually something much bigger.
I wanted to use my work and business, and all the benefits that come with it, to uplift women entrepreneurs in developing countries. I wanted to empower them to use their unique voice, talents, and expertise to build and grow their businesses, so that they could create opportunities for themselves and others.
This is deeply rooted in my own experiences living in Egypt, traveling abroad to Africa, and studying the oppression of women. I have seen that when women are able to make their own money, have their own business, they are able to create opportunities for their families that they wouldn’t otherwise have. And when I look at this from a personal and economic perspective, it is deeply compelling to me.
This WHY has varied in shape and form over the years, but when I ground myself in that WHY, everything takes on a different feeling. I make decisions with this goal in mind. It impacts how I spend my time and with whom. It helps shape who I bring into my business - clients, my team, and even mentors. It helps me invest my resources wisely. In effect, it becomes a filter through which I view my business and make decisions.
Knowing my big WHY invigorates my day to day work with American female business owners. Helping them grow their businesses and make the impact they want, enables me to do more to make the impact I want. It opens opportunities for me to make investments and donations and build new partnerships that directly impact women in the Middle East and Africa.
But there’s an additional benefit to really knowing the true purpose of your business.
When you’re crystal clear on your why and you’re willing to talk about it, growing your business becomes that much easier. People are drawn to businesses that have purpose, that want to make a positive impact on the world. Consumers are increasingly drawn - are demanding - that businesses exist for reasons that go beyond making a profit.
In fact, when businesses embrace their WHY authentically, when they talk about it and take aligned action, they see increased sales, even when they’re at higher price points because clients know that their dollars are going to causes they support.
Simon Sinek, author of the book Start With Why says, “People don’t buy what you do, they buy why you do it.” And I have to agree. When I spend my time talking about WHY I’m passionate about helping female founders and how the work I do enables and empowers women to create opportunities for themselves and the impact they really want, people can get behind that.
The next question in those conversations is always, “How do you do that?” And that opens the door for rich conversations, many of which turn into sales conversations and the opportunity to work together because the message resonates.
So, I’m going back to my original question - Why are you in business?
Finding your WHY, your business’s deeper purpose, is incredibly powerful. So, if you can’t really articulate it, then grab a pen and paper, go someplace quiet, and give yourself the space to think and reflect. Here are few questions to get you started:
What inspired you to start your business?
What event or idea compelled you to take action?
What is your founder story?
What are the experiences, events, or big learnings in your life that serve as inspiration?
When you look at your business, is there something unique about you, your offer, or the impact you’re trying to create?
What problem are you trying to solve, locally or globally?
Why do you want your company to exist?
Is there a specific cause or issues you care deeply about and that your business is supporting?
What is important to you?
And if you’re a female founder looking to build a business strategy and growth plan rooted in your big WHY but aren’t sure how, let’s chat. I would love to help you tie it all together, so you can move forward with confidence and purpose.
