Launch and Develop your Business with a Purpose

Launch and Develop your Business with a Purpose

Have you ever tried coming up with a business idea? For some people, the idea comes naturally. But for others, they can’t seem to get what they wanted to happen. It’s because sometimes, a lot of ideas are coming in their head that they don’t know what’s the best one. Some entrepreneurs wanted to develop a business that solves a certain problem, other wanted to pursue their dreams, and some wanted to try a business trend hoping it could bring success to them. The possibilities and ideas are infinite. So where to start?

Business schools teaches a set of formulation when you want to start a business: Start by identifying a problem in the world or in your life. Then develop a solution. There are also other methods like – assessing personal skills and abilities, using design thinking, undertaking market research, and so on. But one element often gets overlooked.

That element is a sense of purpose. It isn't just the driving force of a business; it can be the seed of a business idea. Start looking for that purpose. Believe me, when you found out what you really want to do in life, the rest will follow. Your ideas can generate from these purposes and it’s a great foundation when you build your business.

Here are some ways to launch and develop your business with a purpose:

1. Look for a sense of purpose that will help in guiding you to the rest of the process.

Before deciding developing your business idea, try asking yourself the following questions before you even begin:

- What is my personal purpose?

- What purpose would I like my business to work towards?

- Which ultimate goals drive my ambition?

Ask yourself, "What is my personal purpose?" Come up with an answer. Then challenge that answer by asking, "Why?" Repeat that five times (hence the Five Whys), as a way of getting closer to the core of what drives you.

2. Use a sense of purpose to guide your business plan.

a. You can now return to the traditional model of finding a problem in an existing market and then searching for a solution — but this time, look at it through the lens of purpose.

b. You can use your sense of purpose to actually formulate the business idea itself, and locate your market, problem and solution

c. You can realign an existing business idea to reflect your personal mission and purpose.

3. The purpose of your purpose

When it comes to the entrepreneurial lifestyle — long hours, perseverance, exhaustion — does having a sense of purpose help? In fact, research indicates that it does.

A recent study by Harvard Business Review suggests that entrepreneurs with a sense of "harmonious passion" (i.e., motivated by the job because it brings a sense of satisfaction and personal identification) were less likely to report experiences of burnout than entrepreneurs with a sense of "obsessive passion" (i.e., motivated by the job because of the status, money or other external rewards).

When you love what you do, everything will come out naturally. You won’t experience burnout from working too hard because it’s your motivation is planted on a solid foundation – your purpose. It is very important to assess yourself and your reason on why you wanted to pursue the entrepreneurial journey.

So, instead of focusing on a problem worth solving, focus on the purpose that drives you. Having a clear purpose can provide you the energy and inspiration you need to keep on working on your business. Even if your plans fail or it didn’t work out, you’ll have a strong foundation that will drive you to strive and make work it out.

That’s the power of finding your true purpose. JLSMEBC supports this advocacy and we believe in the context of IKIGAI – your reason for living. We always offer a session for our clients before they begin to build their business.We wanted to make sure that they have a strong purpose on why they are starting their business.

Reference:

https://www.entrepreneur.com/article/375832

Have you ever tried coming up with a business idea? For some people, the idea comes naturally. But for others, they can’t seem to get what they wanted to happen. It’s because sometimes, a lot of ideas are coming in their head that they don’t know what’s the best one. Some entrepreneurs wanted to develop a business that solves a certain problem, other wanted to pursue their dreams, and some wanted to try a business trend hoping it could bring success to them. The possibilities and ideas are infinite. So where to start?

Business schools teaches a set of formulation when you want to start a business: Start by identifying a problem in the world or in your life. Then develop a solution. There are also other methods like – assessing personal skills and abilities, using design thinking, undertaking market research, and so on. But one element often gets overlooked.

That element is a sense of purpose. It isn't just the driving force of a business; it can be the seed of a business idea. Start looking for that purpose. Believe me, when you found out what you really want to do in life, the rest will follow. Your ideas can generate from these purposes and it’s a great foundation when you build your business.

Here are some ways to launch and develop your business with a purpose:

1. Look for a sense of purpose that will help in guiding you to the rest of the process.

Before deciding developing your business idea, try asking yourself the following questions before you even begin:

- What is my personal purpose?

- What purpose would I like my business to work towards?

- Which ultimate goals drive my ambition?

Ask yourself, "What is my personal purpose?" Come up with an answer. Then challenge that answer by asking, "Why?" Repeat that five times (hence the Five Whys), as a way of getting closer to the core of what drives you.

2. Use a sense of purpose to guide your business plan.

a. You can now return to the traditional model of finding a problem in an existing market and then searching for a solution — but this time, look at it through the lens of purpose.

b. You can use your sense of purpose to actually formulate the business idea itself, and locate your market, problem and solution

c. You can realign an existing business idea to reflect your personal mission and purpose.

3. The purpose of your purpose

When it comes to the entrepreneurial lifestyle — long hours, perseverance, exhaustion — does having a sense of purpose help? In fact, research indicates that it does.

A recent study by Harvard Business Review suggests that entrepreneurs with a sense of "harmonious passion" (i.e., motivated by the job because it brings a sense of satisfaction and personal identification) were less likely to report experiences of burnout than entrepreneurs with a sense of "obsessive passion" (i.e., motivated by the job because of the status, money or other external rewards).

When you love what you do, everything will come out naturally. You won’t experience burnout from working too hard because it’s your motivation is planted on a solid foundation – your purpose. It is very important to assess yourself and your reason on why you wanted to pursue the entrepreneurial journey.

So, instead of focusing on a problem worth solving, focus on the purpose that drives you. Having a clear purpose can provide you the energy and inspiration you need to keep on working on your business. Even if your plans fail or it didn’t work out, you’ll have a strong foundation that will drive you to strive and make work it out.

That’s the power of finding your true purpose. JLSMEBC supports this advocacy and we believe in the context of IKIGAI – your reason for living. We always offer a session for our clients before they begin to build their business.We wanted to make sure that they have a strong purpose on why they are starting their business.

Reference:

https://www.entrepreneur.com/article/375832

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