Four Firmspace Members on How They Lead a Purpose-Driven Business
The word “purpose” gets a lot of attention in the business world these days. But it’s not always clearly defined.
According to Harvard Business Review, purpose “explains how the people involved with an organization are making a difference, gives them a sense of meaning, and draws their support.” Even within that definition, there’s plenty of room for individual and organizational interpretation.
So what does it mean to be a purpose-driven company? We spoke with four Firmspace members to learn how they define purpose at their businesses and put it into action – please note that the opinions below are their own.
Identify How You Can Help Your Business Community
Paul Glantz, a CPA at Launch Consulting finds purpose through “exceeding the expectations of our clients in the service and value we bring to their life,” but in light of the COVID-19 pandemic, their work has extended beyond just taxes and accounting.
“The accounting industry was tested a great deal this year, as our clients and communities went without work and faced difficult decisions to close, shut down, lay off, or furlough employees, and needed to quickly adapt and navigate changes in legislation,” Glantz says.
“Our clients turned to us first for answers and support, and our team felt a great sense of purpose as we saw the immediate impact we were able to make.”
Their team quickly saw that they weren’t just explaining tax laws: they were helping business people understand new rules that would impact the health of their businesses and their livelihoods, and they stepped up to the plate.
As Glantz told us, “[Launch is] a trusted resource in times of crisis. Our entire team felt that pressure and took that responsibility seriously. We are truly honored to serve our clients and community and are proud to be here to help them navigate these challenging times.”
Build Goodwill by Serving in Your Own Backyard
Brian Russ heads up business development for BMO Harris Bank in Colorado and the Mountain States.
While growing the business is his mission, being thoughtful about how best to serve customers and prospects is his practice. “The purpose of my effort here is to grow our business, and the only way we do that is by serving the needs of our customers,” he says.
To Russ, community extends beyond customers and prospects. Russ says his team also has a deep involvement with nonprofits in Denver. “We always try to look for opportunities to engage with and support the communities where we do business. We’re contributors of time and capital to help them achieve their goals.”
The pandemic has been a challenge for building the deep connections that constitute valuable partnerships with the people BMO Harris serves.
Russ notes that while his team’s medium for connection has changed, the nature and importance of their purpose hasn’t: “We’re always looking for avenues to help others, it’s just that now those avenues are mostly virtual. That doesn’t mean we’ve stopped looking for parts of our community to serve.”
Develop Strong Relationships to Support Clients around the World
Jim Applegate is Head of Applegate Explorations, and his purpose is to help his worldwide clients discover new technologies and applications to become more efficient. While that requires substantial technical expertise, Jim says the bread and butter of his work is to build his client relationships with patience and empathy.
Because Applegate partners with so many international clients, cultural differences arise. “I remember I was working on one project abroad, and I felt like I wasn’t getting through to the client I was working with. Everyone in the room had a different approach. Before I discussed my proposed solution, I had to back up and think about why they saw things differently.”
Prior to COVID-19, Applegate traveled everywhere from Germany to Nigeria to Australia. Now, he conducts his international work over Zoom. He emphasizes that the need to develop personal relationships first before diving into business hasn’t gone away.
“There’s a tendency on these Zoom calls to immediately jump into the work because you want to keep it short and sweet, but you can’t do good work together if you don’t know and understand each other,” says Applegate.
Make Your Mission Transformation
Justin Hubbert is President of Park Place Finance, where he serves as a mortgage lender for people looking to fix or flip their properties – the kind of property makeovers you might see on HGTV. “Our mission is to provide capital support for Texans to transform their homes or launch a small business,” says Hubbert.
Mortgage lending is a heavily interpersonal line of business. Hubbert explains that even while his team hasn’t been able to meet with clients in person, they’ve strived to bring the same level of enthusiasm and personalized attention to clients over phone and email.
Because he focuses on helping people secure loans for their new properties, community service is a natural extension of that work. “We definitely are always looking for opportunities to give back to our community, whether that’s through volunteering or donating to local homeless shelters.”
A Purpose-Driven Business Needs a Professional Space
All four of these business leaders underscored that serving your community and forging strong relationships hinges on a sense of professionalism, both online and in-person.
“Having the right physical environment is key for a purpose-driven company, because it reflects who you are when you host clients and prospects,” says Russ. And how you present yourself virtually is just as important. Take it from Applegate, who relies on fast internet and secure digital tools to communicate and make great impressions with people around the world.
If you’re looking for a space where you can pursue your business’s purpose, book a tour to explore the space yourself.
Photo by David Iskander on Unsplash