Find Your 'WHY' Before Starting An Online Business

Are you building a business and asking yourself, "Why am I doing this again?" Sometimes, it's easy to lose focus on the reason you started in the first place, and even find it hard to articulate your purpose to others. In this article, we'll discuss the importance of understanding and knowing your "why," and how getting this clear from the outset can be a game-changer for your business venture.

We'll also explore why many businesses fail to get this right and provide you with an exercise to help you find your "why." This is relevant whether you own a company, have started an online business, or are considering a future business venture.

Key Takeaways

• Understanding your "why" is crucial for success in any business
• Many businesses fail as they focus on the "what" and "how" instead of their "why"
• Utilising a "finding your why" exercise can assist in crafting and applying your purpose to every aspect of your business

Importance of Knowing Your Why

In my experience, understanding and knowing your "why" is crucial for any business owner or entrepreneur. It is the foundation from which all your actions, decisions, and strategies stem. Your "why" is the purpose and passion driving your business – the reason your company exists, and the reason people should care about your products or services.

When people buy from you, they are not just buying your product or service; they are buying into your "why." It is essential to keep your "why" at the forefront of your strategy and decision-making. If you forget or lose focus of your "why," it becomes difficult to maintain the growth, loyalty, and inspiration that drove your initial success.

A memorable fable from Simon Sinek's book "Start with Why" illustrates the importance of knowing your why. Two men were working on building a cathedral – a project so big it would not be finished within their lifetime. The first man saw it as merely building a wall, lacking passion and purpose. He eventually gave up. The second man saw it as building a cathedral and thus had the passion and purpose to continue working on his job.

This story resonates with me because, as most businesses are a marathon and not a sprint, it's essential to look at the big picture. Knowing your "why" will help you stay in business for as long as possible and keep you motivated throughout the journey.

Why Most Businesses Fail to Get It Right

Many business owners and companies fail to get this crucial aspect of their business right, as they focus more on the what and the how, rather than the purpose that drives their business. I've noticed that there are common reasons for this issue.

Firstly, they tend to focus on themselves and not on others. An inward-oriented mindset prioritizes growth and the niche they operate in instead of concentrating on the clients or customers they aim to serve. Shifting the focus to helping clients achieve their desired outcomes is essential to truly understand your why.

Secondly, another reason is the confusion between motivation and purpose. While the former refers to the daily motivation to pay the bills or enjoy a holiday, it is different from purpose, which represents your overall passion and doesn't change. Remember, your purpose is your why, and it needs to be the core focus of your business.

Lastly, many entrepreneurs focus primarily on goals and not on the impact their business has on the world. It's easy to get fixated on revenue or profit targets, but this approach neglects the fundamental aspect of understanding why they are in the business in the first place. By realizing the positive effects their products or services have on their customers, entrepreneurs can remain connected to their why.

The challenge lies in recalibrating the approach to prioritising your why instead of only considering what and how your business operates. Once you manage to accomplish that, it will set the foundation for long-term success, influence, and effect in your industry.

Finding Your Why Exercise

To help you identify your why and get it super clear, I suggest trying the exercise from Simon Sinek's follow-up book to "Start With Why" called "Find Your Why." This seven-step process takes a bit of time, but it's worth it.

First, find a partner with whom you can share your stories. If you're a solopreneur, select a trusted individual; if you work in a team, carve out some time to go through this together. Once you've found your partner, ensure they understand the exercise by getting them up to speed on the seven-step process.

Next, set aside a time and a quiet place to focus on the exercise. You and your partner should be free from distractions, with your phones turned off. Spend time thinking about stories from your past that have impacted you in a positive or negative way. These stories should reveal experiences that have shaped your character and changed you.

Now, it's time to share these stories with your partner. Discuss the stories and delve deeper into how they made you feel and the impact they had on your life. Your partner should ask probing questions to help identify the themes or threads in the stories.

Once you've shared your stories, work together to pull out the recurring themes or golden threads from them that have moved you and prompted changes in direction. These themes are useful to understand more about your character and motivations.

Finally, draft your why. This may take several attempts, and your why shouldn't change over time. It should also be applicable to different aspects of your life, whether it's your role as a sports coach or as a business owner. Remember, your why should be your north star for everything you do.

Let me share Apple's why as an example: "Everything we do, we believe in challenging the status quo. We believe in thinking differently." Their why is a guiding principle that encourages them to "Think Different" in everything they do.

I strongly recommend reading "Find Your Why" and following the exercises to get a better understanding of your motivations in life and business. This will help you to make your business more resilient and purpose-driven. And remember – your why should be the foundation of everything you touch.

Crafting and Applying Your Why

In order to craft and apply your Why, I recommend following the exercise found in Simon Sinek's book "Find Your Why". This seven-step process has helped me in getting my Why super clear, so it can do the same for you.

Firstly, find a partner or, if you are in a team, set aside time with your team to go through this exercise. Ensure you pick a proper time and place for this, one that is secluded and free from distractions.

Next, think about the stories that have impacted your life, both positively and negatively. These are the experiences that shaped your character and changed who you are today. Share these stories with your partner or team, elaborating on how they made you feel and the impact they had.

Your partner or team members should ask probing questions to help you identify the common themes or golden threads running through those stories. This will enable you to better understand the core values and beliefs that drive you.

Once you have done this, sit down together and draft your Why. Keep in mind that this may not happen immediately and may require a bit of time and reflection. Your Why should be applicable to every aspect of your life and should serve as a guiding North Star for your business ventures and personal endeavours.

Apple's Why can be an excellent example for you: "Everything we do, we believe in challenging the status quo. We believe in thinking differently." This drives their passion and purpose and provides a solid foundation for their business.

Remember, it's crucial to not only craft your Why but also apply it consistently in everything you do. This will ensure you stay focused on your purpose and passion, maximising your chances for success in both business and life.

Conclusion

In summary, the importance of understanding and knowing your why cannot be overstated. It is the driving force behind your business and serves as your North Star for all the actions you take. It is essential to focus on purpose, passion, and impact rather than just motivation and goals.

Often, business owners and companies fail to get their why right because they focus too much on what they do and how they do it, as well as their own motivations and goals. To overcome this, it is crucial to refocus on your customers and clients, the purpose of your business, and the impact you make in the world.

The exercise from Simon Sinek's book "Find Your Why" is a great starting point for dialling in on your why. By following the seven-step process and working with a partner, you can identify your why and ensure it is consistently applied to all aspects of your life, whether it is business, coaching, or personal development.

Apple's why, "Everything we do, we believe in challenging the status quo. We believe in thinking differently", is an excellent example of how your why can define your brand and ensure its longevity.

Investing time in finding your why and making it clear will ultimately help you achieve long-term success in both business and life. Don't be afraid to revisit your why periodically to ensure it remains your guiding principle, and don't forget to share it with others to inspire them as well.