How to Build a Business That Prioritizes Both Profit and Purpose?

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Building a business with profits while staying true to your purpose seems impossible. Entrepreneurs often struggle with it every day and look for ways that can help them balance their business profits and purpose.  

However, it’s all just a common misconception. As crazy as it may sound, it is possible to prioritize both.  

If you’re also interested in creating a business that prioritizes both profit and purpose, here’s how you can do it. 

Look for Inspiration

The best way to find inspiration is through learning. Try to do something that you’re not used to. Something that is different, scary, and interesting but can help you learn.  

Let’s take the example of Howard Schultz. He found inspiration for Starbucks when he was in Italy. Another example is that of Julian Levine. He was an athlete who later turned out to be the co-founder and CEO of Twice Toothpaste. He stumbled on his business idea while volunteering at a dental charity event with his family. 

So, come out of your comfort zone and start searching for inspiration. 

Know What You Can Offer

To figure this out, you first need to have an open mind. Think about what you can offer to the cause and how you can contribute to it. Ask yourself how you can build something valuable and combine it all together. 

Look for People Who Can Believe in Your Cause

When you’re building a business with profits and purpose, your team is important. So, who you take on is even more important.  

That’s why you need to look for people who can be inspired by your business story or idea, motivated by your vision, and work day in and day out to help your dream come true.  

Choosing the right team members and equipping them with the right resources is always a good investment. In addition to that, instilling your team with a purpose-driven mindset is critical to success.

Finance the Growth of Your Business

To fund your business growth, start by looking for the right partners. These are the people who have faith in you and your purpose. They probably love your product and would support you to succeed. They can either be your family, friends, investors, or even a bank.  

Ask any questions you have in mind and try creating a group of investors who can help your business grow.  

Empower the People Around You

If your business is running fine and you’re earning profits, the next thing you should do is share that success with your people. You can share it with all those who have helped you achieve success.  

When profits are linked to purpose, you can make a real and tangible impact on the people. Besides, it is always a good idea to let them know the difference they are making. This would ultimately help you to build a company that prioritizes people, purpose, and profits. 

Start implementing these tips today and build a business that you would be proud of. A business that brings together both profit and purpose.  


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