Featuring IdeaPros executives Fred Cary and Tessa Ashford, the new webinar guides viewers through the challenging but critical process of finding their purpose. Specifically, it offers actionable steps to find what truly matters to a person and build a business model around it.
More information about IdeaPros is available via https://www.ideapros.com
According to Cary, the consultancy’s CEO, purpose-driven companies are more sustainable as leaders are not solely motivated by profit. Moreover, this approach often leads to untapped niches, which in turn creates promising market opportunities.
MORE THAN JUST PRODUCTS
Beyond a mere lofty ideal, grounding a venture on a specific mission has proven to be a winning business model. Research shows that 58% of purpose-driven organizations grew by at least 10% in three years, versus only 42% for non-purpose-driven enterprises.
Cary notes: “These results are hardly surprising. One study shows that consumers are four to six times more likely to purchase products from a purpose-driven company. In short, people expect much more from companies these days, meaning business as usual simply won’t do anymore. To thrive, you need to stand for something that matters to your customers.”
Interested parties may read the full report at https://www.ideapros.com/blog/the-purpose-driven-entrepreneur-your-purpose-can-become-your-legacy
KINDS OF PURPOSE-LED BUSINESSES
The webinar also includes a section that tackles internally and externally purpose-driven businesses. It explains how the former can foster a healthy work culture that benefits employees, while the latter pertains to actions that benefit the planet and society. While Cary notes that adopting either model involves an upfront cost, it has long-term benefits for a venture’s bottom line and reputation.
EXAMPLES WORTH EMULATING
To conclude the training video, the hosts provide examples of successful purpose-driven enterprises. These companies were chosen specifically to highlight that businesses can indeed balance growth with societal impact. They also cover a range of industries and have varying missions, giving entrepreneurs multiple templates to emulate.
IdeaPros is a leading consulting firm with extensive experience working with early-stage startups. Its team of diverse experts offers coaching so that entrepreneurs can find their purpose and mission. Those who wish to get in-depth mentorship can sign up at https://www.ideapros.com/start-now
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Study Champ journalist was involved in the writing and production of this article.