A few years ago Simon Sinek did a TED talk that has turned out to be one of the most watched TED talks of all time. He presented a pretty convincing argument that businesses that know and communicate their “why” have more raving fans, greater employee satisfaction and greater brand value than businesses that just exist to make money.
So, what is the “why”? Basically, it’s what your business does or the problem it solves, beyond just the products you sell. Your “why” gives clients and employees emotionally charged connection to your business. Usually it’s the business founder’s driving reason for the business to exist.
Your “why” can perhaps be called your business mission or vision which is more than just existing or wanting to make money.
Simon Sinek talks about Apple as a great example, but I think a more relevant and recent examples for us in New Zealand is Allbirds.
An outside in approach, would say Allbirds sells shoes, excellent shoes, do you want to buy some?
An inside out, approach using the companies “why” is that Allbirds are trying to change the world by innovating materials for clothing that are from sustainable sources making them ecologically responsible. People are buying their shoes because they want to make a difference, even though occasionally the shoes might fail because the materials haven’t been fully proven, they are willing to take this risk, for the greater good. As a result, even though Allbirds was started by an ex-football player from Wellington about 4 years ago, it has a valuation of over $2bn encouraging investors like Leonardo de Caprio and Howard Schultz, Starbucks founder because they want to help the environment, not merely invest in a company selling shoes.
BNI’s cause is bigger than just referrals; members have an emotional connection to their chapter and want to help others be successful. In BNI we refer to this as Givers Gain® which is the most well-known and well-practised of our core values. If BNI was only about the money, members wouldn’t stay as long as they do.
As a result, BNI is the world’s leading referral organisation and we are Changing the Way The World Does Business TM
Challenge
Next week in your elevator pitch, tell us your “why” and use a specific referral request related to your “why” that we can communicate to potential customers or referral partners for you.
