Profit Propels Purpose

I read an article recently about how Millennials value purpose-driven business more than profit-driven business; in other words, they are more concerned with finding fulfillment in passion than in financial gain.

In some ways, this is a great thing! Passion drives and inspires us. But at the same time, purpose alone is not enough to allow a business to successfully flourish. Without a healthy profit, a company’s purpose can’t become more than a good idea. For instance, part of Chick-fil-A’s corporate purpose is to positively influence everyone we come in contact with and fulfilling that goal requires expending resources–and resources come with a price tag.

The important truth is that profit propels purpose.

A healthy profit gives us the ability to give life to our ideas–it allows homes to be built, jobs to be offered, the hungry to be fed. A healthy profit provides the ability to say “yes” to opportunities to grow, influence others, and help those in need.

We need to grow companies of purpose built on passion and new ideas, but without resources, growth doesn’t usually happen. Alternatively, financial growth without purpose can be toxic to healthy living. That’s why a balance of purpose and profit is crucial to successful business. Profit gives us the ability to act, and action is where influence takes root.

Being surrounded by others who long to be a part of something with purpose thrills great leaders, and as we learn to grow our businesses, doors open to amazing opportunities to influence others–and I think that’s something all of us would like to be a part of.

Have you spent time identifying your purpose? If so, how has it affected how you view your resources?