Building A Business Based On Purpose
Prefer video? Turn up the volume and tap here to watch this (and other exclusive episodes) on YouTube.
Crafted in San Diego with love for my fellow hustler. Last updated: January 20, 2020.
I finished my MBA and now I’m swimmin’ in free time.
But before jumping into the deep-end to catch up on the hustle, I paused for self-reflection.
I blocked 3 days in my schedule to zen out and catch up on my Ommmmmmm’s (means meditation).
And in those days I realized that most people won’t take an hour or even 10 minutes to do this.
They don’t act with intention.
And they never evaluate whether they’re working towards something or just working for the sake of working.
Starting a business without purpose is like having a GPS with no destination.
We grind for months at a time then lose our mojo when we realize we’re right where we started.
That’s the dark side of business that everyone struggles with.
But the problem’s not a lack of systems, teams, or tactics.
It’s that we force-choke ourselves when we bounce from idea to idea.
This next part isn’t sexy.
But it’s why entrepreneurs struggle on their way to their big breakthrough:
Before starting a business, entrepreneurs don’t intentionally build it around their purpose.
They haven’t done the self-work to find it.
So what do people do?
They start a hustle that’s doomed from the beginning.
We act on an idea and follow a path of least resistance for making sales (or so we think).
Before long, the dark side takes over:
You’ve been there, right?
We all have.
And we all have ideas.
But ideas aren’t the answer.
Clarity of purpose is what matters the most.
The next question to ask is, “How do I find purpose?”
There are a bunch of exercises out there.
Most of them suck.I know because I’ve tried the lot of ’em.
Ultimately, the simplest way to find purpose is by answering these 3 questions:
This self-work should be done before starting a business.
If you’re already neck-deep in your hustle, answer them anyway.
Your answers should leap out of your mouth without hesitation.
If not, it’s time to do some self-work.
5 Steps For Finding Your Life’s Purpose
These steps kinda hurt because you feel lost the entire time.
So don’t expect to finish in 30 minutes.
Soul-searching is the tough work that’ll simplify the rest of your hustle.
Step 1. Brainstorm People Who Excite You.
Step 2. Brainstorm Activities That Excite You.
Step 3. Answer The 3 Questions Again With Your List Of Topics As A Reference.
Here they are again:
Use your list to find the “Who” and “What”.The “Why” comes from you.
Step 4. Build Your Purpose Statement
Use the format:
“My purpose in life is to help WHO with WHAT because WHY”
Step 5. Test Your Purpose Statement
Read/say your statement.
You should answer with a feverous “YES!” to these questions.
If it’s a “Yeah, I guess” or you’re not sure, there’s still more work to be done.
Have you noticed?
It’s not all about you.
It’s about being of service to your fellow humans.
Think about Elon Musk. He’s not a CEO he’s a visionary. That guy’s in it to change the world.
I’m not saying you have to master space travel.
I’m saying you have to wrap your business around solving other people’s problems.
“Successful people are always looking for opportunities to help others. Unsuccessful people are always asking, ‘What’s in it for me?”Brian Tracy
Sam helps middle-income couples to build their retirement. Her parents worked until their 70’s due to a lack of planning.
Reyland chose to be a teen orthodontist. He was bullied in high school for having crooked teeth.
Joshua helps athletes recover from sports injuries. He fought with depression when he tore his ACL during a lay-up.
See how this works?
In these examples, we know who is being served, what they’re trying to do, and why they’re doing it in the first place.
Here’s my example.
1. Who do I wanna serve?
I serve the entrepreneur.
The person who decides to start a business in spite of overwhelming odds that say most of them will fail.
2. What do I want to help them do?
I wanna help them grow with education and coaching.
The goal is to steadily increase sales with a strategy based on authority and differentiation.
And to kill stress that comes from working with the wrong people, applying the wrong systems, or getting sucked into the repetitive loop of trying new thing after new thing.
3. Why do I wanna help them do that?
I wanna help these people because they remind me of myself.
I was in the same place over a decade.
I had no idea what I was doing.
I failed in a bunch of areas until I refocused on the fundamentals.
My Purpose Statement
My purpose in life is to educate entrepreneurs and rescue them from struggling for years (like I did)…
Because that’s how I want to be remembered.
Find your purpose before starting a business or project that takes longer than a month, time’s too precious.
If you’ve already started, pause to make sure it’s right for you by asking yourself:
Do this and I have faith in my fellow hustler that nothing will stop you from unlocking your greatness.