Purpose without execution, does it work?
“Profit isn’t a purpose. It’s a result.
This game-changing quote from Simon Sinek has made marketers and CEO’s sit up and take notice for nearly a decade. But what’s been the result of this move towards a more purpose-driven world of business?
The answer for most has been a whole load of stress and hassle, business re-invention, glorified statements and misdirection of company messaging towards a fantasy world of altruism that is more hype than reality.
If Purpose 1.0 was about crafting a compelling purpose statement. Purpose 2.0 has been about executing it across all business touch points in a meaningful way.
And guess what, Purpose 2.0 is a million times harder to execute than Purpose 1.0 and therein lies the problem.
No one said it would be easy
2008 – 2014 was the era of purpose-driven companies finding themselves. CEO’s, CMO’s and marketers paid firms vast amounts of cash to craft a new position and story that for the most part has been gathering dust.
2014- 2018 has been the era of execution. Companies have worked fiercely to act on their purpose and tried valiantly to leave their competitors in the dust.
The reality as far as I’m concerned still comes back to Sturgeons Law i.e. only 10% will ever get it right, the other 90% fail.
For the 10% club, the ones who are acting on their purpose, the companies experiencing dramatic growth in revenue and market share I salute you.
Leadership is everything
Having worked on over 50 purpose-driven projects over the past decade I can honestly say without hesitation that the one thing that defines success more than anything else is the commitment of the CEO and leadership team to their purpose. The greater that sense of belief and commitment, the greater the chance of success.
Who is leading the way?
The companies I want to salute are as follows. If you need some inspiration, check out the following stories:
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