4 Ways to Discover Your Business’ Purpose Post COVID-19

Despite the major challenges and uncertainty presented by the COVID-19 pandemic, many businesses are thriving. According to Forbes, the common denominator among these successful companies is a purpose-driven business model. In other words, the businesses fairing the best are those that are authentically committed to a purpose greater than profitability or growth.
Business owners can use the following 4 tips to discover, or even rediscover, their business’ purpose in a post COVID-19 environment.Business Purpose

1.  Get personal

The value of frequent and open communication has only increased as the world has been operating in crisis mode. Therefore, addressing the personal needs of your employees, vendors, clients, and customers is of the utmost importance. Your empathy and concern during stressful times will be remembered long after the pandemic is over, and you can feel good in knowing that you made a positive impact.

2.  Create new services for new needs

As personal and professional priorities have shifted for many people during the pandemic, it is likely that your employees, customers, and clients have developed new needs. Learning what these new needs are, and offering new services that provide support and assistance can make all the difference in finding your purpose. Additionally, alleviating stressors and attempting to better the lives of others has a positive impact on employee and client retention, as well as drawing in new customers.

3.  Support the community

Businesses should assess their available resources and make an effort to actively support the broader community. Businesses can contribute resources other than financial resources, such as time and skills. For example, business owners can start a company-wide fundraiser to donate to first responders or individuals directly affected by COVID-19, or provide resources to help customers and clients learn how to use virtual platforms. People like to see that businesses care about the community and are going above and beyond to provide assistance.

4.  Refocus

The COVID-19 pandemic has left many feeling overwhelmed, overworked, and just plain over it. However, focusing your mind and efforts on the things that are within your control can help alleviate stress and provide a sense of direction. Revisit your mission and what your business originally set out to achieve, and find one or two ways to adapt existing services or adopt new practices that allow you to stay true to your purpose.

For assistance with small business matters, contact

the Law Offices of Elsa W. Smith, LLC at 410-995-7719.Estate Planning Attorney Elsa W. Smith