Morphing your passion and purpose to grow your business to the next level
Last night Bruce & Pavlo spoke about the two critical ingredients at every point of the business development life cycle - passion and purpose.
All businesses grow through a lifecycle of development.
They start, establish, build, grow, accelerate, hit prime and either glide or reinvent, mature and then plop down dead!
Every entrepreneur needs passion and purpose behind their actions…
Passion is the petrol and purpose the destination (which should always be an Asset of Value).
Both of these will change as you traverse the levels in the business lifecycle.
At the start – passion is a product/service, purpose is to get your first customer.
When you're established – passion is about the customer and the purpose is to understand the problem.
When you're building – passion is about building commercial systems and the purpose is to scale your ability to deliver
When you're growing – passion is about people; purpose is about releasing your time from operations
And when you accelerate – passion is about innovation; purpose must be to have it be customer led
Listen to the full show here.
Tags: The Money Show