The why component – in detail
Describes the work that needs to get done in the business.
Part of the fundamental basics layer
INTRODUCTION
One of the first building blocks for a scaling business is to be able to express why the business exists.
This foundational principle serves as a guiding light for strategic decisions, culture building, and underpins everything that follows in the growth of the business. The “why” component of the framework ensures that as your business scales, it remains aligned with your core mission and values.
It will also differentiate your business in competitive markets and enable your leaders to make strategic choices that contribute to long-term sustainability of the business.
The framework starts with why you exist because this will shape not just your internal processes and culture but also the external perceptions of your business. This will help you to build a brand that resonates deeply with your target customers, team members and other stakeholders.
In detail
How would I define our ‘why’?
It’s always worth going back to the roots of your business and thinking about what problem you or the founders were passionate about solving when you started. Your original inspiration will hold key insights into your overarching purpose.
Think about the difference your business makes in the lives of your customers and how you make things better for them. If you’re not sure, speak to them! Your customers and stakeholders are a great data source for you when it comes to the reason your company exists.
How does this support decision-making?
A deep understanding of your company’s foundational purpose ensures that every decision is firmly anchored in your business’s mission.
This insight helps to establish a decision-making framework across your organisation, facilitating choices that are both immediate and strategically aligned with your long-term goals. Such a framework not only bolsters informed and balanced decision-making but also reinforces the sustainability of the business by laying a groundwork for adaptability and resilience.
Guided by your core purpose, decisions become more strategic and impactful, fostering a culture of prioritisation. This approach helps in directing resources—time and investments—towards initiatives that are both profitable and in harmony with the broader vision and mission of your company. Sharing your company’s “why” with your team and key stakeholders not only streamlines decision-making but also ensures that every action is driving the business towards its vision and core objectives in a meaningful way.
It’s obvious what we sell, why is this important?
What you sell is very rarely the key to a deep emotional bond with customers. People typically make purchasing decisions based on emotional connections rather than just logical evaluations of a product or service. The “why” of your business taps into these emotions, helping your customers feel aligned with your brand’s values and purpose – this can foster loyalty and advocacy.
Sticking with emotions, articulating the “why” will also boost employee motivation, creating a work environment where team members are aligned with and passionate about your company’s mission, enhancing productivity and innovation.
Particularly for scaling businesses, you need to ensure that everything you create, from product development to your marketing strategy is cohesive and aligned with your core mission. It will enable your teams to adapt and innovate effectively, in alignment with your market position.
