What is Your Business Purpose?
by Gene Muchanski, Editor
The Dive Industry Professional
Welcome to the September 2021 Editorial. Every month we start off with a topic to get our industry conversation going again. What is important to us this month? Where is the industry heading now? Monthly editorials used to simulate us into action. Now, with all that is happening in the world, our editorials seem to be calming us down and getting us back on track in this chaotic world. Whether you need stimulation or calming down, it is good to reconnect with your industry once a month and there is no better place than in our Industry Blog. Welcome to September.
I started this editorial last week with the title “What is Your Purpose?” and then I turned it into a full blown article with the title, “Are You True to Your Purpose?” The article came out well, and will be featured in our September Newsletter, but for now I want to get back on track by asking if you have a reason for being in business. What is your purpose?
The Dive Industry Foundation is going to publish my new book, about the process of going into business as a Scuba Retailer. I’ve done it myself 36 years ago, and I’ve helped hundreds of entrepreneurs start their own business, while consulting at Costa Mesa Community College, the University of Houston, and now the Dive Industry Foundation. Even with all of that work and research behind me, it still is a major process to go through when you decide to open your own dive store. We all feel that if our book can help a future dive store owner successfully plan the opening of a new watersports retail store, it could save them thousands of dollars and significant time, talent and manhours.
There are many questions a prospective retailer has to ask before going into business for themselves. Besides the obvious questions like, what are you going to sell and who are you going to sell to, you have to know why you are doing this in the first place. We ask you right up front, What is Your Purpose? In other words, why are you doing this? What do you expect to gain by going into business for yourself? What is your purpose?
In the beginning of every Business Plan is the Executive Summary. The very first question in the Executive Summary of our business plan format is the topic, The Company Mission. Your mission statement is the reason you are going into business. It’s what you are telling the world what your purpose is. It’s your calling. It’s your purpose. It’s your mission.
A Mission Statement should always be written down so the world will know what your purpose is. That will help them relate to and understand why you are doing the things you do to complete your mission. If you have investors, sponsors, employees or members, you must be truthful to them and transparent in your communications. When people give you money because they believe in your purpose, make sure that every penny you spend is for the successful completion of objectives, that create outcomes, that help you accomplish your mission. Being truthful to your purpose is all about personal integrity.
If you are already in business, it should be an annual agenda item to go back and read your company mission statement to remind yourself why you are in business. Then look at the actions you’ve taken, to complete outcomes, that produced results for your company. Now ask yourself, Was I truthful to my purpose? Did I tell the truth to my Members, Sponsors and Customers? Did the company revenue go to accomplishing the written Company Mission Statement?
Your purpose in life is your reason for being. Fulfilling your purpose in business may be more than you answering your vocational calling. It may also be your purpose in life. Period.