A larger purpose can impact your business. Here’s how that’s a good thing.
There are numerous reasons for starting a business, including pursuing a passion, wanting to set your own hours and wanting to make more money. But if you’re not committed to a larger purpose, all those reasons may not be enough for your business to succeed.
What Is a Commitment?
A commitment can be defined in three ways:
1. It gives you purpose. Let’s define a commitment as a greater purpose for your life that drives you forward every day. Many studies have shown that purpose even leads to longer life for men and women alike.
2. It’s never finished. A commitment is not, “I want to own a successful business,” because that doesn’t give you lifelong purpose. A commitment will never truly be finished, and you’ll work towards it for many years.
3. It’s personal. Although having a purpose in your business is important, your commitment is personal. It will affect all areas of your life, including business, and it will impact how your business grows.Related: Communicating Purpose Can Create a Boom in Business
What’s the difference between a goal and a commitment?
A goal is defined as a result that you aim for, define, plan for and then achieve. You have many short-term and long-term goals in life, but a commitment goes beyond even the most long-term goal. It’s not something you finish doing, but something you constantly work towards.
How does a commitment help your business?
It helps you focus. A lack of focus can be extremely detrimental to your business, not only from day to day but on a larger scale. To succeed in your business and complete each day’s, month’s and year’s goals, you need intense focus more so than a long period of focus.
Warren Buffet’s “2-List” strategy for focused attention is a perfect illustration of focus: defining your priorities and eliminating the rest. You write down your goals, and then circle the top five. Then you don’t just prioritize these — you eliminate the rest.