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Rewiring Businesses for Purpose and Profit

Rewiring Businesses for Purpose and Profit 1

All businesses face daily challenges. Decision-makers are constantly experiencing higher costs, lower margins, fewer key accounts, fierce competition, worries about long-term growth, and lack of insights to develop new products and services.

These circumstances and challenges prevent businesses from fulfilling their potential.

To turn things around, businesses can dig deep inside and channel their available resources wisely. It is possible to rewire any business to profit by connecting to a purpose.

Here are some of the insights and best practices you can leverage today to channel your energy and resources around a profitable purpose:

  • When faced with a complex challenge, dig deeper to its root cause, break it down to its simpler elements, and put things into perspective so you can customize the appropriate solutions.
  • Focus on one priority item at a time. Once done, move on to the next item. The man who moves a mountain begins by carrying away small stones – Confucius.
  • Do the right thing for the common good and get your priorities straight.
  • Consider your circumstances and disregard the cost. This will force your company to dig deeper and bring forward positive qualities like resourcefulness and persistence.
  • Commit your company to reach one milestone after the other. Train your business to act consistently, realistically and with purpose.
  • Keep looking forward and aim to grow organically. There are no shortcuts to success.
  • Condense your skills and achievements into a single defining sentence. This sentence will assist you to filter out the things that are not relevant to your company’s purpose, and will save you from getting lost in the surrounding noise, baseless assumptions, and ungrounded expectations.
  • Recognize that there are better routes and alternative courses of action open to you beyond your habitual business culture, practices, and style.
  • Look at broader measures of success and non-financial metrics such as the development of skills, improved working conditions, personal and collective motivation.
  • Develop internal knowledge and resources to boost your enduring power and gain uplifting and restorative effects on your business.
  • Help every single individual meet his or her full potential on a personal level and the success of the group will follow.