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Most entrepreneurs enter that space because they want to create a positive impact on the world. They have a purpose and a mission. They see a problem; they find a way to solve it. The reasons why we do the things that we do are everything.
However, it can be all too easy to lose sight of this as we go further down the road. As investors demand returns, or as revenue demands become more pressing. As we start to work longer hours, and as our own ego starts to get in the way.
However, purpose and profit are delicately intertwined. Perhaps, you can have one without the other, but as we move forward into a more millennial- and Generation Z-led workforce (those born between 1983 and 2003), the case for having both becomes far more compelling. And yes, profitable.
Related Link: 5 Ways Entrepreneurs Can Combine Purpose and Profit
1. It acts as a North Star
When you are clear on your own and your business’s purpose and what you stand for (and don’t stand for), it’s easier to make decisions and assess opportunities.