In this episode, I am talking about purpose, what it is, why we need it and what difference it can make in life and business. This subject is very close to my heart and I believe it is important for anyone. In my mind not having a purpose is the biggest reason why so many businesses fail and why so many people are unhappy with their lives and in their relationships.
This is quite an intense session, but I believe it is the most important subject for society today.
Many people who want to start their own business have this line of thinking: I am fed up working for the corporate world. I want to put effort into something worthwhile and start my own business.
Does this resonate with you?
If you want to start a business, the idea is to provide value for someone else. Whether that is in your own business or working for someone else.
For many people starting businesses today, around 80% drop out within the first year. Out of those 20% remaining, 90% of those walk out after three years.
Why is the percentage of ‘remainers’ so low?
Most of the time, it’s because there is much more work and a lot less pay at the beginning than what they were making in their corporate job. It could be that they are still doing the same work, but as a business owner, you have a lot more to think about than just the work you are doing. There are no other departments who take care of finances, logistics or marketing, for example.
Starting your own business should be about going after your idea because you are not able to do it within the framework that you’re in, typically in the company you are working for.
The reason why you want to make money with the business you want to start has to be more than just about making money. You should be able to say why you are doing it for other people and yourself. What is the purpose of it?
When you have a purpose, you will have people who will follow and be attracted towards you wanting to be part of this greater cause and vision.
Passion is a direction. And a clear direction is a must-have.