Finding balance between purpose and profit

MARKETING   |   POSTED ON 14.04.2016

Finding balance between purpose and profit

At the very heart of every business is the aim to make money, to turn a profit. But what if you could not only make a profit but also have purpose and stand for something? No longer do the two need to mutually exclusive; you can have both. Purpose and profit can even work together and support each other.

Have meaning

Being in business today is exciting; there’s never been a better time to create new things, to learn and to collaborate. You have the opportunity to build a meaningful business that can make the world a better place and it’s exactly what consumers are seeking too. To bring meaning into your business you need to understand the human factors at the heart of your enterprise. You need to understand and work around the ‘why’.

Create a new path

Throw away the ‘but that’s the way it’s always been done’ motto and seek to inspire new thinking, solve problems and collaborate with others who aim to change the world. Focus only on relevant, meaningful practices and forming connections between real people.

Embrace diversity

Strong values and moral consciousness can influence your business and your profit in an extremely positive way. Consider the stereotypes that may be hindering your business’ growth and how you could change your organisation’s thinking and the way you do business.

Think about these as examples and how they could change the who, what, when, where and why you sell:

  • People come in all shapes and sizes
  • Australians come from all parts of the world
  • Online has the ability to reach all over the country and the world – people don’t just live in the major cities
  • Strong does not just describe men
  • Pink is not a girl colour, blue is not a boy colour
  • Making jokes about age, body shape, gender, sexuality or ethnicity is not appropriate – ever
  • Selling more things is not a meaningful measure of your business’ success
  • Not all boys grow up to be ‘blokes’
  • Not all girls aspire to be a ‘princess’
Embrace your team

Treat your staff, your team, your collaborators, your sub-contractors as you would treat a paying customer. They are potentially your most loyal ambassadors and your biggest cheer squad. Treating them with respect and dignity will reap rewards for your bottom line and the morale of your business.

The Balancing Act

To maintain your balance of purpose and profit you need to constantly evaluate your values, mission and plan to ensure you remain on track. Customers, clients, consumers, whatever you call them, will seek out a way to deal with businesses that stand for something. They want to spend their money with organisations with which they share similar values and communicate purpose.

So how can you balance profit and purpose? Once you have that sorted, how do you communicate those messages with the world? Learn more on marketing your message contact the team at Liquid, your local branding specialist, today.

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