* Article written by Estela Damato, founder of Damato Partner Track
Discovering your company’s purpose is the first step towards embarking on a journey to reduce negative impacts and create a value chain for all stakeholders.
I already discussed some reflections on impact businesses and companies striving for positive transformations, in an article that you can read here.
Committing to this journey can be a long process, which involves revisiting the origins and values of your company that can provide you the understanding of its direct and indirect effects on people’s lives and the world.
In this article I want to invite you to dive into what purpose truly means and how to find it, and I hope you enjoy it.
The foundation for a purpose-driven journey
A company must have solid foundations to effectively implement strategies and initiatives that generate inside-out transformations – acknowledging your strengths and areas for improvement is a crucial first step.
Your purpose should be embedded at the core of your business, which may require an internal cultural shift.
It will provide the creation of a long-term value for multiple stakeholders to ensure your company lives and breathes this purpose in practice.
And for that, some fundamental values must be properly structured to guide the company’s principles.
Connecting leadership and employees to your mission
Connecting employees to your mission is part of redefining the soul of your business, and structural changes may be necessary to create a chain of effects so the purpose resonates beyond your company.
Efforts for change and the responsibility for more positive governance rests particularly on company executives.
After all, we are talking about changes that need to be implemented within the organizational structure, right?
Your purpose needs to be integrated into the corporate environment so it can reflect on investors, partners, and potential project sponsors.
Therefore, it is essential to start thinking about our expectations on future leadership, which can be developed today.
What do we mean by purpose?
For Damato Partner Track, it means envisioning a fairer and more prosperous future for all of us, and it involves courageous actions embarked on social and environmental issues.
It is like planting a seed in the business environment, which can flourish into a chain of positive impacts.
The head of the Future of the Corporation program at Said Business School, Oxford, also has a great definition about this concept: “It is about solving problems profitably, not profiting from creating and exploiting problems“.
Reflecting on it invites us to look beyond numbers and short-term goals, offering a chance to reassess the impact your organization can have on the world and people’s lives, a journey that may not be simple but is highly rewarding.
Can you imagine your company as an agent of positive transformation?
Unlocking your company’s purpose
A company can be considered brave by the simple act of seeking to find and live its purpose. This connection with the reasons for its existence in the world can be transformative and guide the necessary changes.
Here are some questions to help you on this discovery journey:
- What problem does your company have the potential to solve?
- How do you make your strategic choices today?
- What values guide your business operations?
- Are your employees engaged with your company culture?
- Does your company culture make the world a better place for your employees and the planet?
Consider the possibilities that open up when you align your mission with concrete actions that benefit society and the environment — this is the true power of purpose.
Embracing the challenges for strong connections
Start this reflection today: What is the true reason for my company’s existence? How can I align my values and daily practices with a lasting positive impact?
Remember what I said earlier about involving your employees in this process: shared visions create collective energy to transform goals into concrete action.
Ask difficult but necessary questions, talk to your team, open up to their ideas, and be inspired by small changes that can make a big difference.
Purpose shouldn’t be just a beautiful word: it must be the soul of your business and the path to building trust with your employees, suppliers, customers, potential investors, and stakeholders.
And if you enjoyed this reading, I invite you to discuss your aspirations and pursuits in the journey of impact, get in touch: [email protected].
