How to Identify Whether Your Company Values Its Mission or Its Profits More
Mar 29, 2023
I am a firm believer that if you align yourself with a mission-driven organization, the profits will follow. Being mission-driven is better for your happiness, the community, and even your profits. Before discussing how to determine if your organization is mission-driven or money-driven, let's examine the benefits of being mission-driven. Firstly, being mission-driven wins the loyalty of your consumers. When you focus on adding value to others, you create goodwill that spreads to the community. Secondly, being mission-driven means you get to be true to yourself and use your unique abilities to help people. Instead of targeting everyone, you focus on those who align with your mission, helping them achieve their dreams. Thirdly, building goodwill in the community and loyal followers while attracting people with an authentic message and mission means people will pay for what you have and even happily pay. You get to do your best work with people you like while getting paid.
Is your therapy office money-driven or mission-driven?
There are four areas you can examine in your organization to determine if you are money-driven or mission-driven. These are the focus of the organization, the main activities of the organization, how the organization recognizes wins, and the guiding principle or question of the organization's decision-making. "Starting with why is crucial for lasting success," says Simon Sinek in his book "Start with Why." He emphasizes the importance of understanding the purpose and values of your organization, stating that "people don't buy what you do, they buy why you do it." By establishing a clear why, leaders can inspire their teams and create a sense of belonging and purpose.
Without realizing it, you might have veered off the mission path and onto the grinding money path. On the money path, you are not serving your dream clients, you are not using your best abilities, and you are not keeping your best people. Use these questions to help you get back on track to being a mission-driven organization. The following chart comes from a course taught by Joey Ragona at Strategic Business Academy.
Question 1: What does the company focus on the most?
The first question is, what does the company focus on the most? In a money-driven organization, profit is the main focus, whereas, in a mission-driven organization, people are the primary focus. This is evident in the language used, the artifacts of the culture, and the behavior of the leadership. Language is a subtle way that organizations communicate how they view their customers and the people they serve. The artifacts of a culture are the things that support and ensure that everything remains in the status quo. In a similar vein, companies have artifacts that reinforce their culture and the behavior of their employees. Quint Studer, author of "Results that Last," emphasizes the need for a long-term perspective in leadership. He suggests that leaders focus on creating a culture of excellence, which includes "hiring the right people, training and developing them, providing consistent communication and feedback, and recognizing and rewarding performance." By investing in their people and creating a supportive culture, leaders can achieve sustainable results.
Question 2: What is the main activity of the organization?
The second question is, what is the main activity of the organization? In a money-driven culture, the main activity is transactions, while in a mission-driven organization, the primary activity is transformation. In the former, companies are looking for the transference of goods or services for money, while in the latter, companies are seeking to help people reach a desired outcome.
Question 3: How does the company recognize wins?
The third question is, how does the organization recognize wins? The "12 Elements of Great Managing," developed by Gallup, also stress the importance of employee engagement and development. These elements include "knowing what's expected, having the materials and equipment to do the job, receiving recognition and praise, having opportunities to learn and grow, and having someone at work who cares about you." When employees feel supported and engaged, they are more likely to stay with an organization and contribute to its success. In a money-driven organization, the win is selling, which fits in line with the transactional main activity. In a mission-driven organization, the win is serving, which fits with the transformation's main activity. Organizational wins are like the scoreboard of a business. If you are only measuring success in terms of billable hours, you might be on the money-driven side of an organization rather than the mission-driven side.
Question 4: What question guides decisions in the organization?
A money-driven organization asks “What's best for me?” In a mission-driven organization, the guiding question is “What's best for us?” When the decisions are made in your organization, what is the strongest voice? Is your practice there to make the world a better place or for everyone or to make the better the world a better place for you? I have seen this play out several ways in therapy practices in regard to taking insurance. Some practices know that becoming cash base only reduces their overhead and allows them to maximize their office time with people who can pay the fees and who want to be there. This decision is good for them, their clients, and their families. It also allows them to help people that are very motivated. I've also had conversations with therapists who decide the best thing for them their families and their community is to stay on insurance panels so they can help lower-income people or people who do not have the resources to pay cash prices for therapy services. Both of these groups of people are mission-driven. The key here is to figure out what your mission is and then make decisions based on that mission that helps the most people.
Mission Driven is Better than Money Driven for the Therapist
In conclusion, being mission-driven has numerous benefits. To determine if your organization is mission-driven, examine the focus of the organization, the main activities of the organization, how the organization recognizes wins and the guiding principle or question of the organization's decision-making. Being mission-driven can help you create loyal customers, do your best work with people you like, and achieve financial success. A mission-driven organization requires a focus on purpose, culture, and employee engagement. By starting with why, investing in people, creating transformations, serving, and making decisions on “What’s best for us?” As Sinek says, "people don't buy what you do, they buy why you do it."
If you want to expand your mission, I would love to help you make an online course. Online courses are easy to make and update.
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