Identifying your big WHY as a business owner
Updated: Jan 14, 2022
Starting a business seems daunting, and there are many reasons you want to become an entrepreneur; these significant reasons can be summed up into one simple sentence: "Your Big Why."
Identifying your big WHY as an entrepreneur is a first and most important step you need to take when starting a business. It will motivate you when everything goes south, and you feel like quitting.
Customers only stick with you when your vision is clear and the value is also visible. No employee or even customer will want to detach from benefiting from a business with a clear vision. A value giver is like a jungle king in the business world.
Figuring out the major reason you decided to go into a particular business is crucial to the success of your business. As much as money is important to every business, you might crash halfway if you start with a money mindset. A crucial way to becoming a well-recognized business owner who impacts the industry lies in your "WHY." Once you identify your big why you will navigate your way and build a successful business. built-in
5 Tips to identify your big WHY
Are you a business owner who wants to identify the why behind your business? Here are five major ways to identify the big WHY:
What is your story?
Finding your story is one giant leap to identifying your big why. Connecting to your customers truly matters in business. Remember, customers, look for quality, sincerity, and passion for buying decisions.
Your story must be genuine and not fabricated. When you've set a particular standard to follow, you should stick with it till the end. For instance, before you started your business fully, you've always used high-quality materials. When you suddenly swap and start using low-quality materials, your customers might not completely trust your brand again.
A strong brand story is a solid foundation for your business; remember, your customer's trust is very important to the success of your business.
Know your passion
Are you not sure about what your passion truly is? It would help if you researched the industry. Little to no knowledge about the particular industry you work in might lead to mixed-up passions.
Knowing your passion is vital to identify why you are in a particular industry. Of course, having a mentor is not a bad idea, but it's better to carry out market research while you get added knowledge.
Ask yourself daily, "what is my purpose?". Of course, the answer won't come to you all at once, but in the end, you'll figure it out. Your passion is what you will never get tired of doing, even when it may seem difficult.
You can also conduct a poll among those who know you well, especially your family. It may help you figure out your passion.
Know the right reason
Many business owners have reasons personal to them why they run a business. The reason could be to attain financial satisfaction, creativity, or personal success. Every business owner has the liberty to do what they want.
Freedom connects most of the reasons why people own a business. Each individual has intentions personal to them. Knowing what drives you as an entrepreneur is of utmost importance to achieving your set goal.
When you discover the right reason why you started a business, you will remain focused. Remember, what drives you determines your growth.
Money is not all
Focusing on only the financial goals of your business won't allow you to remain committed to your vision. Instead, bringing your vision to reality should be your goal as a business owner.
Often, individuals start a business to hit the jackpot suddenly, which doesn't happen. A business might hit rock bottom before it eventually hits the jackpot. Financial gain is gradual, not sudden.
Why you are doing a particular business should be your major focus. You might end up making all the money but miss out on the actual vision of why you built the business. Money can ruin an entrepreneur's vision, so stay focused on the purpose of your business.
Every passion is not always a potential business idea
You might like a particular sport or loves making beaded accessories, but it doesn't mean it'll work out as a business for you. Some of our passions are for leisure; not all your passions pass as a good business idea.
Please don't go with the idea that you should become a teacher when someone says you are good at teaching. NO! Knowing the specific thing that drives you, something you can never get tired of doing, is your passion.
Don't just have values; build; build upon those values and make an outstanding difference in business and the world. It is advisable to communicate your business purpose as a business owner, especially to your customers and employees.
WHY you do something is much more important than how you do it in the business world. Once the WHY question is answered, you'll get more engagement and recognition in business.