Research shows that companies with a clear sense of purpose outperform their competitors.
A study by Harvard Business Review found that companies with a strong sense of purpose had a 5x higher return on assets compared to companies without purpose.
Another study by Accenture found that 66% of consumers are more likely to purchase products from companies with a strong sense of purpose.
The acclaimed book Firms of Endearment tracked the financial performance of 18 purpose-driven companies over the course of 10 years. These 18 companies had an average annual return on equity of 9% to 13.1% higher than the average company in the S&P 500. The book also found that purposeful companies outperformed the S&P 500 by an impressive 10 times.
Finding your purpose can be a journey, but it starts with asking yourself what you stand for and what you're passionate about.
Once you have a clear understanding of your purpose, you can use it to guide your business decisions, attract employees and customers who share your values, and make a real impact in the world.
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