Investors, employees, and customers all want to feel confident they’re making the right choice. A successful purpose statement assures them they’re in good hands by clearly articulating strategic goals and motivating your workforce to do their best. The best purpose statements answer vital questions that can’t be ignored, such as:

• What is your company’s reason for existing?
• What value are you giving your customers?
• Why is your company uniquely capable of providing value?

According to PwC, companies that successfully answer these questions with a clear and compelling purpose statement see real, lasting value. Up to 63–65% of their employees are motivated or passionate about their jobs, compared to just 31–32% at companies without clear values. 

So, how do you think your purpose statement measures up? According to renowned author and self-proclaimed “unshakeable optimist,” Simon Sinek, a business mission or vision all boil down into one proclamation–and that is your “just cause" or purpose statement. And, that statement must pass this 3-point test to be most effective. 

Is your statement:

1. Resilient: Able to withhold cultural or economic change?

2. Inclusive: Put into words that inspire employees and other stakeholders?

3. Service-oriented: The primary benefactor cannot be the contributor?

Of course, having a great purpose statement isn’t enough. You also have to follow through. Check out the following resources to be well on your way to creating a Powerful Purpose. 

Read more:  Why Are We Here | HBR

Watch more: 3 Things that Make a MEANINGFUL Vision | Simon Sinek