The Single Most Important Word to Your Business

By Ryan Shelley

AnandKZ / Pixabay

There are trillions of products and services that consumers have the option to choose from. No matter the industry, vertical, or platform, the power of choice is greater than ever before. What makes one product or service more appealing than another? Hint: it has nothing to do with features or lowest price.

A company’s “why” is the single most important asset they have. Companies that find and hold tightly to their “why” are the ones that succeed time and time again. Whether it’s a social cause like Warby Parker and Toms Shoes, or an obsessive dedication to customer service like Zappos, a company’s why is what leads it towards success.

Video Transcript

There’s a really powerful quote from one of my favorite authors, Simon Sinek, that says, “People don’t buy what we do, they buy why you do it.” And as you can see in today’s economy, there’s a lot of businesses that have extremely powerful “whys”.

The “why” behind their product is what drives the consumers, it’s what drives new business to engage with them. It starts to build that relationship with them. Just because you have some cool widget or some new idea that sounds really good, doesn’t mean it’s actually going to engage real people in the real world economy. So understanding the why, behind the products and businesses that you have, is going to help set you up for success.

Now it’s not just as easy as, “I do this because.” A lot of the times that’s how we define our “why”. Defining your “why” can actually take a lot of time and take a lot of trial and error and testing things out. Just because you think you have your “why” doesn’t always mean that that’s what’s going to really pull in your audience, that’s not really going to resonate with the people in the real world. So how do businesses go about finding why they do what they do, in order to build a product or service that people want to engage with for a long time? Let’s talk about that a little bit.

Most entrepreneurs or new business start because they’ve uncovered a pain point. They’ve uncovered a problem where they’ve come up against themselves, time and time again. And they want to find a solution. And once they’ve found a solution, they realize, “Hey, there may be other people that have the same problem as me.” So a lot of times in start-ups or small businesses, they start to define these problems and they start to build a product right away. Because they believe if we can get a product to market, people are going to buy it because people have a problem.

Well, that’s not always how this process works. We’ve got to find why that problem is such a big deal. If it’s not that big of a problem or the pain’s not enough for them to change, that product probably is not going Go to the full article.

Source:: Business 2 Community

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