Every business has a shared purpose of making money. But for many business owners, it’s about more than revenue and profits; it’s about making a real difference in the world by introducing a product or service that will improve people’s daily lives. At its core, a purpose-driven business operates on the principle that its existence serves a larger cause. This could range from addressing social issues, like poverty and education, to environmental concerns, such as sustainability and conservation.
Some companies find their purpose through their vision or mission statement. Others have a purpose from the beginning because they were built to solve a particular challenge.
21st-century consumers increasingly seek brands that align with their values. “Today’s consumers are digitally confident and purpose-driven. They’re informed and focused on finding brands that align with their values. They’re demanding more across the board, and companies will have to raise the bar to pass muster,” says, Global Leader for the IBM Consulting Consumer Center of Competency.
“I had one goal in mind at the start – saving my daughter and helping her live a healthy, productive life,” says Londo. “My struggle to find well-designed products in the medical industry inspired me to get into this business. We aim to deliver a high-quality, affordable product that can help people live healthier lives. Every decision we make comes back to this overarching intention, and we live our values every day in the way we interact with our employees, customers, and stakeholders.