B: Inspired eZine November 2016 | Page 18

5 Keys to Unlocking a Purpose-Driven Business Virgin’s Changing Business for Good Group Director, Charlotte Goodman, advises Virgin Group businesses globally on how to strategically articulate, embed and measure their purpose to create positive impact and a sustainable competitive advantage. Here are Charlotte’s tips for building a profitable, purpose-driven business. 1 2 18 Determine the purpose of your business, by reflecting on why you exist not just focusing on what and how you do what you do. Then make decisions based on the long term, not just the short term. Balancing the importance of both the long term and the day-to-day running of your business will ensure your business is relevant to future customers, not just your current ones. Insight is everything. Define and have a clear understanding of the role and positive impact you want to have on people’s lives – your customers, your people etc. The more you understand the role you want to play, the better you’ll be able to see and capitalise on relevant opportunities and create new ones that may not already exist.