A Simple Exercise for Finding Your Company’s Purpose
A ‘How-To’ that inspires action…
This tried-and-tested exercise has worked at Google, Intel & Walmart, and is designed to help you start building a world-class brand.
So what is it?
Well, it’s an exercise in coming up with your brand’s future obituary:
25 years from now, your company is wiped out. Sit down and write the obituary. What would you want those obituary articles to say?
Before I explain why this is so influential, I’d like to give a shout-out to Marty Neumeier; a wonderful brand strategist whose book Zag inspired this post (a book I’d highly recommend to anyone intent on building an exceptional brand). Marty is a pro at making brands stand out via differentiation. As he says:
“When Everybody zigs, zag.”
Let’s get back to the obituary: the reason this exercise is so effective is that it peels back the pragmatic layers for being in business (like making money) and gets to the core of why your brand exists; what we call the altruistic reasons you do what you do.
Pragmatic (self-oriented) – How you and your team benefit from your brand; the internal benefits of having a successful brand.
Altruistic (unselfish) – what your brand brings to the world; the external benefits and value it brings to those who interact with it.
I’d like to highlight that it’s important to have a balance of pragmatic and altruistic reasons for doing what you do, but when identifying your brand’s purpose, focus on reasons that are bigger than the company.
The bigger picture is what makes your brand remarkable. It gives your team the belief that their work has meaning and it’s the reason everyone outside your company will become followers of your brand.
To explain in more detail, I’ll take you through an example of a brand’s future obituary.
Our example is a SaaS brand called Pouch.
Pouch centralizes all of your bank accounts into one easy-to-use mobile platform, enabling you to manage your money smarter.
Today marks the end of Pouch’s 25 year reign as the leaders in personal money management software, as the company closed it’s (digital) doors for the final time.
Some will remember Pouch as the company that revolutionised the personal finance industry, but most will remember it for the impact it had on our daily lives; Pouch empowered people to confidently manage their finances.
Pouch’s easy-to-use platform educated all who interacted with it; teaching us how to spend wisely, save easily and budget effectively. It eradicated the stress previously associated with managing our personal finances.
Pouch disrupted the financial industry by giving the power back to the people who powered the financial industry, the customers.
Transcending the financial industry, Pouch ignited a movement of customers demanding more control in all of their service-providers.
The brand inspired change across SaaS companies who were made to put the customer’s interests and welfare above all else, in order to compete.
While Pouch may be gone, it’s legacy will never be forgotten, as we continue to manage our money more effectively everyday.
So there you have it, now it’s time for you to go write your brand obituary.
This exercise is always a highlight of the brand sessions I conduct with clients, and I hope you gain as much value in it as they have.
I suggest getting the juices flowing with the takeaway questions below, and if you would like some help, just get in touch here, I’d be happy to hear from you.
Takeaway Questions:
What would you like to be remembered for in the future?
Where does your passion lie?
Where do you have the most credibility?
Where do you have the most experience?
