The Secret Ingredient in Timeless Brands

"Leaders die, products become obsolete, markets change, new technologies emerge, and management fads come and go, but core ideology in a great company endures as a source of guidance and inspiration." - Jim Collins, Built to Last

For years, thought leaders like Simon Sinek, Roy Spence, Jr., Jim Collins and Jerry I. Porras have been researching the "secret ingredient" behind the most successful and time-tested brands. Their research concluded companies like Procter & Gamble, Disney, Marriott, and IBM all share a common denominator: The best performing and longest lasting brands serve a purpose beyond profit.

So, if the not-so-secret ingredient has long been known to the business world, why are more companies not reaping the benefits? The truth is, defining and adhering to a core purpose can be difficult. Purpose statements can come off disingenuous, cliche, or ill-fitted for the company. To be successful, a company's purpose should be seamlessly aligned with all aspects of its management and operations.

So, What's the Big Deal? Purpose is the glue to any company - it gives employees, customers and stakeholders a sense of value and motivation. Fostering such a community of brand advocates can help support and grow a business organically and strengthen its reputation. A business without a purpose is otherwise susceptible to consumer backlash, abandonment, and distrust.

Think About It: Before jumping on the CSR bandwagon, a business needs to clearly define its purpose. Once a company adheres to its core purpose, it can communicate and align its CSR initiatives with reason, instead of necessity. A greater purpose helps audiences understand the intentions behind a company's CSR and alleviate any skepticism of those actions being self-serving.

[Triple] Bottom Line: Brand advocates only stick around if a business is authentic, transparent, and genuine. No business is perfect and something will inevitability happen that will bruise its reputation. However, the companies that work to fulfill a purpose and serve a greater good bruise less often and heal much faster!