These 4 Traits Will Make or Break your Mission-Based Business

People are hungry to support businesses that have a just cause. Where massive corporations can spread themselves far and wide, throw million-dollar marketing budgets around, and cut costs at their economy of scale, it’s the independent businesses that have an opportunity to go deep with their customers and provide a sense of meaning.

“People don’t buy what you do, they buy why you do it”.

So says author, speaker, and ethnographer, Simon Sinek, in his wildly popular TED Talk.

He proposes that people are more interested in backing businesses, not because they have a good product, but because they convey a clear sense of mission, driven by tangible values. People are hungry to support businesses that have a just cause.

This couldn’t be more true to the craft coffee industry, where local roasters and cafes find themselves competing with goliaths like Starbucks or Dunkin’. Where massive corporations can spread themselves far and wide, throw million-dollar marketing budgets around, and cut costs at their economy of scale, it’s the independent businesses that have an opportunity to go deep with their customers and provide a sense of meaning.

What is a mission-driven business?

There are a few traits that I believe are fundamental to a mission-driven business.

1. The bottom line isn’t the focus.
2. There is a deliberate mission.
3. Everyone is aligned with the mission.
4. The bottom line isn’t forgotten.

01| The bottom line isn’t the end-all-be-all.

“Over the past decade, leaders in business, education, and the social sector have become more interested in the development of purpose.”

There comes a point in the lifespan of a business where it transitions from the early-days survival mode and becomes self-sustaining. It’s at this point that the founder can take their first real breath, take their eyes off the bottom line, and look around at what they’re building.

Perhaps you’ve already reached this point, or perhaps you’re looking over the fence towards those greener grasses. Either way, you have a decision to make as to whether or not you’re going to lead a mission-driven business or a profit-driven business.

To be clear, I’m not saying that mission and profit are diametrically opposed goals or motivations, but you need to be intentional with your focus in order to pursue either.

01 | There is a deliberate mission.

This one is kind of a given, but the operative word is deliberate.

You may have a gut feeling or intuitive idea about what you and your business aim to do. You started it after all and, without purpose to drive you, I personally believe that the obstacles are too great for many people.

Your sense of purpose is a great place to start, but your work isn’t finished here. You need to spend time honing your sense of mission until it’s a clear statement of purpose that cuts to the core. It’s why you do what you do, and clarity will not only guide you — it will guide your team.

“People don’t buy what you do, they buy why you do it”.

Simon Sinek

If you don’t have a clear understanding of your mission and how you aim to achieve it, you won’t be able to inspire others to get on board with it, which leads us right into number three.

03| Everyone is aligned with the mission.

Crafting a mission for yourself is a great exercise, but its impact only goes as far as its influence.

You may be the owner of your business, but each employee you hire is an extension of your brand. They are the most critical touch-point between your customers and your company, and each interaction is a reflection of the brand.

If you have existing employees, communicating your newly crafted mission statement gives them an invitation to join you on the same page. It also clarifies your expectations and becomes an accountability tool.

Getting buy-in with your current team is critical in this stage. They should feel a sense of ownership over the mission, and including them in the process will not only help them feel a part of the mission; it will help give you more material to work with.

Once you have a mission statement, communicating it regularly is key. It should be front and center when onboarding new employees, coaching your team members and making big decisions.

04 | The bottom line isn’t forgotten.

Remember when I said that mission and profit aren’t necessarily opposing forces? That’s because financial success is what funds the mission.

Business owner’s who put their entire focus on profit build one-dimensional brands, but business owner’s who neglect their finances may soon find out there is no brand to build.

Businesses that are poor stewards of their resources fail, and it’s the responsibility of the owner to understand their expenses, margins, revenue, and profit. When it comes to money, knowledge really is power, and when you have a basic understanding of your finances you become better equipped to make key decisions that may make or break your coffee business.

When a business fails, its mission fails with it. That’s it is mission-critical (literally) to keep the bottom line in mind.

Originally published at https://brwdup.com.