While the business world is undeniably preoccupied with profit, nowadays any entrepreneur who is not purpose-driven risks getting left behind.

As the importance of making a positive impact on society and the environment becomes more urgent, businesses with a demonstrated commitment to the good fight are coming out on top.

Consider the outdoor clothing and gear company, Patagonia. A certified B-Corporation, its mission is to “build the best product, cause no unnecessary harm and use business to inspire and implement solutions to the environmental crisis.” Since 1985, Patagonia has dedicated more than $61 million to environmental causes.

The rise of purpose-driven entrepreneurship
Today’s consumers are seeking more than just products—people want to support brands that align with their values and fulfill a deeper mission.

A good way to create a corporate mission with purpose is to first explain what you do, and then define why you do it. For example, Disney provides “the best in entertainment for people of all ages everywhere” in order to “create happiness.” 

Discovering your purpose
As an aspiring entrepreneur, the only way to really land on your true purpose is by reflecting on and understanding your core motivations. Whether it’s addressing social issues or being a voice for climate justice, knowing your business’ purpose is crucial.

Real-life impacts
From reducing plastic waste to uplifting underserved communities, purpose-driven businesses are everywhere, inspiring others to follow suit. This can lead to the development and growth of entire industries (i.e., recycling).

Purpose and profitability
Believe it or not, purpose and profit do not need to be mutually exclusive. Purpose-driven businesses attract loyal customers and employees alike who share their values, which ultimately drives profitability.

Montreal-based Lufa Farms is a case in point: their popular online farmer’s market is an invaluable service for city dwellers who value fresh, local produce—and their employees can feel good about helping to “transform the way we feed cities and the world.”

Purpose-driven entrepreneurship does come with its challenges, like finding ways to scale without compromising your mission, or securing funding. But utimately, it’s 100% possible to create ventures that achieve financial success while also creating change. And really, today’s world demands it of us. So why not embrace it and help shape a better future for your business as well as for humankind?

Need some feedback or more support? A YES business coach would be happy to help you with your business plan and other strategies to help start your business off right!