77 - Go Deeper: How to Define Purpose and Spark Your Business Success

The basic purpose of every business is to make money. But if you want to stand out from the competition, you need to define what your business's deeper purpose is. Most successful businesses know what that is and it usually goes beyond the desire to make and have more financially.  This week's podcast episode is Part 1 of a four-part series aimed at the four critical questions that will help you to structure a one-page plan to drive your business. I begin this series with defining the deeper purpose of your company. I'll cover: Why having a deep business purpose is important, How to craft your purpose statement, with examples from real-life construction companies,  How to use your purpose to guide business decisions.  If you haven't figured out yet what your business's deeper purpose is, dive into this episode and get the inspiration you need to take action in crafting your very own purpose statement.  What's Discussed in This Episode: Analogy of cars and business [1:26] Overview of podcast episode [3:29] The 'Why' question [4:36] Deeper purpose keeps you from a life of regret [6:19] Deeper purpose makes you unique and stand out [6:58] Deeper purpose keeps you from a life of grasping [7:12] Deeper purpose leads to fulfillment [7:39] Deeper purpose enables you to make the contribution your business is designed for [7:40] Why having a deep business purpose is important [5:21] Why spending time defining your deep purpose is vital [8:37] The concept of having skin in the game [8:50] Gather your core team [9:20] Bring a facilitator in [10:34] Setting aside time to have a discussion [11:18] Ask the question 'why do we exist?' [11:48] Crafting a deeper purpose is not a marketing or team building exercise [13:38] Don't do it for the approval of others [14:09] How to craft the deep purpose of your business [8:44] Examples of purpose statements from real-life construction companies [15:32] The unique personal aspect of your purpose statement [17:35] Using the deep purpose of your business in your daily decisions [18:04] Authenticity in your purpose statement [20:56] Allow your deeper purpose to drive your business [23:22] Resources: Are you frustrated with the planning meetings that get nowhere? You could benefit from engaging an expert meeting facilitator that knows construction. Here's what Gregg Hall, President of Tilton-Pacific says about working with Eric: "Eric has a natural ability to drive the conversation where it needs to go. Despite having no prior experience with our company, our culture, or our team, he was able to steer the conversation in the right direction without wasting any time. Rather than telling us what to do, he helped us to solve our own problems just by the questions he asked and the way he facilitated the conversation. I would also add that Eric has a natural gift for bringing out the best in the participants. Everyone was engaged and no one felt restricted in their ability to share openly. His personal communication and leadership style, combined with a solid knowledge of construction, allowed us to accomplish so much more than expected in such a short period of time. It is for these reasons that I consider our time with Eric of  great value and I have no hesitation in recommending Eric Anderton to others who might benefit from a skilled strategic planning facilitator who understands the construction industry." To chat with Eric about if and how he can help go to his website: www.ericanderton.com/contact  Books mentioned in this episode:  James C. Collins and Jerry I. Porras Built to Last (https://www.amazon.com/Built-Last-Successful-Visionary-Essentials/dp/0060516402)  Patrick Lencioni The Advantage (https://www.amazon.com/Advantage-Organizational-Everything-Business-Lencioni-ebook/dp/B006ORWT3Y)  Verne Harnish Mastering the Rockefeller Habits (https://www.amazon.com/Mastering-Rockefeller-Habits-Increase-Growing/dp/0978774957)    Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to the Construction Genius: A Leadership Master-Class Podcast on Apple Podcasts, Spotify, and Stitcher. Thank you for tuning in!