PEPP®

When I trademarked PEPP® as a word a few years ago, to mean Purpose, Energy, Pleasure and Profit, whilst saying anyone could put the words in any order they like, I deliberately put “Purpose” ahead of “Profit” in the order I regularly say them. Because to not do so inhibits our ability to live with vitality. And it weakens our ability to maximise profit in the long term.

“Purpose” – The HBR Surprise!

The current issue of the Harvard Business Review (HBR) has an article that reinforces the importance of purpose. It starts with “Eight years ago we launched a global study of high growth companies, investigating the importance of three strategies known to drive it: creating new markets, serving broader stakeholder needs, and changing the rules of the game. What we found surprised us. Although each of those approaches did boost growth at the organisations we studied, there was a fourth driver we hadn’t considered at all: purpose.”

I have been quoting Sir Richard Branson for years saying “In the modern world, there can be no profit without a well-defined purpose” and so I have been helping my clients identify their purpose. It’s likely not to be something you can rush but rather evolves over time. I used the analogy with them that it is a bit like baking a cake. After making, baking and removing from the oven, you need to let it cool down before icing it otherwise the icing won’t stick properly. You can’t rush purpose… to be robust it requires time and plenty of consideration.

 

The insight the HBR article gives is that many companies consider purpose merely an add-on to their strategy. The most successful companies though put knowing and sharing their purpose at their core; using it to redefine the playing field and reshape the value proposition to their world which includes their team, stakeholders and customers. The benefits of doing this are that a purpose-driven strategy helps companies overcome challenges of slowing growth and declining profits. It also helps with the softer side of management – the people related aspects of running a business which has often proved to be the undoing of leaders.

Find Your Why

If you are a small business owner, have you identified your own purpose and successfully carried this through to your business? If you are an employee does your current role align with your personal purpose? If you are a leader in a large organisation, did your personal values and the purpose of the organisation always align and affect your decision to work there? I’d love to know your thoughts.

More than 46 million people have watched Simon Sinek’s inspiring Ted Talk “How great leaders inspire action” where he talks about “The Golden Circle” described in his “Start With Why” book. If you would like some inspiration to find your own “why” or “purpose” then his “Find Your Why” is a very practical book to help you do that.

My Purpose

Some people have a purpose like wanting to be a terrific role model for their children whilst others want to create something that changes the world and leaves a legacy.  I’ve been finessing my purpose lately. I now say

My purpose is to inspire people to have more vitality so that they achieve their goals faster and live a more joyful life.

If you’d like me to help you identify your purpose or “why” then I’d be delighted to support you to do that. As mentioned above it’s one of the activities I’ve been working on over the last few months with my clients in the PEPP® Small Business Coaching Program.

If you are already living your purpose then please share it with me – I’d love to know what it is!