The soul of a business is the essence of its identity, the core values, culture and mission that define its purpose and direction. It is what makes a business unique and attractive to customers, employees and investors. But how can you discover, cultivate and sustain the soul of your business? Here are some insights from experts and leaders who have done it successfully.
Start With Why
One of the most important steps to finding the soul of your business is to ask yourself why you do what you do. What is the problem you are trying to solve, the need you are trying to meet, the value you are trying to create? What is your vision for the future, your passion, your motivation?
Simon Sinek, the author of Start With Why, argues that people don’t buy what you do, they buy why you do it. He says that the most successful businesses have a clear and compelling why that inspires their customers, employees and partners. They communicate their why through their products, services, marketing and culture. They align their actions with their why and create a loyal following.
Some examples of businesses with a strong why are Apple, Tesla and Airbnb. Apple’s why is to challenge the status quo and empower people with innovative technology. Tesla’s why is to accelerate the transition to sustainable energy and transport. Airbnb’s why is to create a world where anyone can belong anywhere.
Define Your Core Values
Another key element of the soul of your business is your core values. These are the principles that guide your decisions, actions and behaviors. They reflect what you stand for, what you believe in and what you care about. They shape your culture and influence your performance.
Core values should be authentic, meaningful and distinctive. They should not be generic, vague or copied from others. They should be aligned with your why and communicated clearly and consistently. They should be embedded in your policies, processes and practices. They should be demonstrated by your leaders and employees at all levels.
Some examples of businesses with clear core values are Netflix, Zappos and Patagonia. Netflix’s core values are freedom and responsibility, context not control, highly aligned loosely coupled, pay top of market and promote diversity. Zappos’s core values are deliver wow through service, embrace and drive change, create fun and a little weirdness, be adventurous creative and open-minded, pursue growth and learning, build open and honest relationships with communication, build a positive team and family spirit, do more with less, be passionate and determined and be humble. Patagonia’s core values are build the best product, cause no unnecessary harm, use business to protect nature and not bound by convention.
Cultivate Your Culture
The culture of your business is the manifestation of your soul. It is how you express your why and your core values through your actions and interactions. It is how you create a sense of belonging, purpose and engagement among your employees. It is how you attract, retain and develop talent. It is how you foster innovation, collaboration and excellence.
Cultivating your culture requires intentionality, consistency and accountability. You need to define what kind of culture you want to create, how it supports your goals and vision, how it aligns with your values and how it differentiates you from others. You need to communicate your culture clearly and frequently to your employees and stakeholders. You need to measure your culture regularly and take action to improve it.
Some examples of businesses with strong cultures are Southwest Airlines, Starbucks and Salesforce. Southwest Airlines’s culture is based on fun, love and service. They celebrate their employees’ achievements, personalities and passions. They empower their employees to deliver exceptional customer service. They support their employees’ well-being and development. Starbucks’s culture is based on warmth, connection and community.
They treat their employees as partners and offer them benefits such as health insurance, stock options and education assistance. They encourage their employees to share their opinions, ideas and feedback. They involve their employees in social responsibility initiatives such as environmental sustainability and social justice. Salesforce’s culture is based on trust, customer success and innovation. They invest in their employees’ growth and happiness through programs such as wellness, volunteering and learning. They reward their employees for their performance and contribution. They foster a culture of collaboration and diversity.
Sustain Your Soul
The soul of your business is not static. It evolves over time and adapts to changing circumstances. It faces challenges and opportunities that test its resilience and relevance. It requires constant attention and nurturing to stay alive and vibrant.
Sustaining your soul requires vision, strategy and execution. You need to have a clear vision of where you want to go, why you want to go there and how you will get there. You need to have a strategy that aligns your goals, resources and actions with your vision and values. You need to execute your strategy with excellence, agility and accountability.
Some examples of businesses that have sustained their soul are Amazon, Nike and Lego. Amazon’s soul is to be earth’s most customer-centric company. They have a vision to offer customers everything they want, when they want it and how they want it. They have a strategy to leverage technology, data and innovation to deliver value, convenience and satisfaction to customers. They execute their strategy with speed, efficiency and quality. Nike’s soul is to inspire every athlete in the world. They have a vision to create products, services and experiences that enhance performance, style and wellness.
They have a strategy to leverage design, branding and storytelling to connect with customers, communities and cultures. They execute their strategy with creativity, passion and excellence. Lego’s soul is to inspire and develop the builders of tomorrow. They have a vision to create products, services and experiences that stimulate learning, creativity and play. They have a strategy to leverage research, collaboration and innovation to deliver value, quality and fun to customers. They execute their strategy with integrity, responsibility and sustainability.
The soul of your business is the essence of your identity, the core values, culture and mission that define your purpose and direction. It is what makes your business unique and attractive to customers, employees and investors. It is what drives your performance and success. To discover, cultivate and sustain the soul of your business, you need to start with why, define your core values, cultivate your culture and sustain your soul. By doing so, you will create a business that is not only profitable, but also meaningful, impactful and enduring.
