We all know one reason our business exists; to make a profit. But do we know the more profound reasons our business exists? Is there a purpose to it? This blog is inspired by renowned Business Guru Simon Sinek’s ‘Golden Circle’ theory of business. The video can be found here.
Nothing without depth lasts. Relationships that are not forged into a solid connection fall apart. Businesses that don’t have a defined vision eventually fail. As it is said in the Bible (Proverbs 29:18, KJV): “Where there is no vision, the people perish”.
Take Apple. What they do any large company could do. Why is Apple so successful then, and why don’t they have evenly matched competitors? The reason is that there is a deeper calling behind the business, a calling which they invite their customers to share. Apple’s calling, for instance, is to challenge the ‘status quo’. It is to rethink and redefine their domain. They make us feel we are a part of a bigger movement, a part of something that redefines how we look at life. It offers a compelling way of life – and that’s the difference.
Starbucks is another example. They don’t just sell premium coffee at a low price. Dozens of other companies do that. They sell a way of life, a lifestyle. They sell a belief system for people to be a part of. When you go to Starbucks, it’s not just a coffee you are buying. You are buying into a way of life, one with all kinds of unique things like responsibly sourced coffee and your name on the cup. This generates a much stronger connection with the company and inspires loyalty.
People don’t buy what you sell. They buy a reason when they buy your product. The reason must come in the form of something that inspires them to choose your product over others. The reason must inspire them to want to be part of that calling.
Research shows that last minute decisions on whether to buy a product are not logical decisions. Sure, features and cost are important, but the heart makes the final yes or no. For which there is a need to feel that you are worth investing in emotionally.
For this to be genuine, it must be inward-looking. You can fool the mind, but you can’t fool someone’s emotions; their ‘gut feeling’. The reason must speak to you, as the company itself. It must be something you passionately believe in – why would someone else believe it if you don’t?
It’s then a matter of finding a reason for your company to be. Perhaps you feel that other companies offer less innovative products and that customers deserve better. Or, perhaps, like Apple and Starbucks, you have a unique vision to turn the lives of your customers around. But, the bottom line is that you need to look inward as a company and find, or create, a genuine reason for being.
It’s a basic law of the universe. You get what you give. If you believe in improving the lives of your customers, this will improve your own. Life is a two-way street, and customers are not just the profit element of your business. They are the very reason your business exists. Be true to this, and see your business grow.
From 20 years, we have just one raison d’être: to make Identity and Access Management truly usable – for only when something is affordable and easy to use, does adoption happen. We have built the World’s only cohesive IAM solution with Access Management, Identity Administration & Governance, and Privileged Access Management. One that is true to what we believe in.
