A July 28, 2015 article by the Gallup organization entitled, “A Company’s Purpose Has to Be a Lot More Than Words,” highlights why a company’s “Core Purpose” and “Brand Promise” – things that we emphasize in the Gazelles Four Decisions model for scaling up your company successfully – matter so much to the bottom line. Those organizations who “walk the talk” of their purpose and back that talk up with one or more brand promises, receive twice as much share of their customers’ wallet (47%) than they do from customers who aren’t aligned with that same brand (23%).
It all starts with clearly articulating the organization’s purpose, it’s “WHY,” and ensuring that every employee is completely dialed in to this purpose. The purpose must be CONSISTENTLY ACTED UPON by everyone in the organization. The company needs to further prove its commitment by developing a brand promise to its customers and BACKING UP that promise with what Jim Collins refers to as a “catalytic mechanism” for bringing the brand promise to life. For example, my consulting firm, STAR Group, believes so thoroughly in our services and in not asking customers to pay unless they receive value, that we offer a “Short Pay Guarantee”: “If for any reason you feel that you did not receive value at least equal to the amount of our invoice, simply pay what you believe our services were worth.”
The article is well worth a few minutes of your time. Then ask: “Is everyone in our company clear on the real reason we exist? Are our actions – both the things we do and the things we consciously choose NOT to do – consistent with why we exist? Are we willing to incur some kind of pain when what we do is not consistent with what we believe?”
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