Question: did you know that most global businesses fail after forty years?
No, neither did I. I don’t really know why they fail as I was catching the tail end of an interview with a “futurist”, (no , not Tony Stark), on the radio. Now, this is the important part, those that don’t fail focus on purpose, not profit.
Purpose, not profit. Those three words have stopped me in my tracks. If you read these articles you may know that I have been planning and creating my own vision. A business plan if you will. It has both helped and hindered me. I know long term that it will be a great light to guide the way.
Now I’m not saying I’m a global business, I’m just some guy in a workshop in Melbourne, but surely these high ideals of purpose not profit should apply universally, right?
My vision, my purpose is to create beautiful, mind blowing items that make people gush and go, as one lady recently did ,”JESUS CHRIST!” That blurting of emotion is a delight, I can comfortably say internally,”my work here is done”. When that happens I have fulfilled my purpose. But what of profit? If I don’t make money, I don’t eat, pay rent etc. is being profitable such a bad thing ? I don’t think so, but if I’m truly honest it’s the purpose that feeds my soul and makes me happy , not the profit.
Purpose not profit may be the shortest sentence that has the biggest impact on me in a long while and it happened about 20 minutes ago. There is a good chance I heard it at just the right moment, which is also good.
Warning, this next bit is purely speculative:
How do we make it so we can concentrate on our purpose, not our profit? I think it might go a little like this.
A: First, work out a purpose. OK , I think I’ve done that bit.
B: Work out how much it costs to keep focused on my purpose. My materials, my rent and food and all those life and business costs. Plus maybe a bit for the odd Hot Toys or Lego kit here and there.
C: Set your work rates and prices at a level that is fair to you and your audience, the people who support you by purchasing your purpose. Review this every now and then. Nail that stuff right down.
D: Put it in a drawer, cupboard, oubliette, turn your back then fulfill your purpose everyday, every moment you can.
Major caveat here, I’ve done some of this but not all of it I don’t know if it works. It sounds cool but that’s the thing with hearing impactful, three words sentences on the radio.
But it’s worth thinking about, isn’t it?