Digital Prosperity Blog

What Is The Purpose Of Your Online Business?

After reading the title of this blog post, you may think, "to make money, obviously!".

But I've found over the last few years that having your online business's sole purpose as "making money" actually de-motivates you and means you make less overall.

Here's why...

In the early stages of your business, you'll need to set up the foundations. This includes your website, your free content (or "lead magnet"), your paid offers, your follow-up sequences and more.

If you don't do these things, it's the equivalent of building a house on a bed of straw, instead of a solid block of concrete. So they need to be done.

But you can only start making sales AFTER these things are in place. Just like adding more bricks to the foundations you've just laid.

(After all, sending your traffic straight to a sales page will only result in a tumbleweed and empty bank account.)

So while you're implementing these necessary foundational steps, it can sometimes get pretty de-motivating when you're not fulfilling your sole purpose of making money yet.

That's why it's super important to have your business fulfil another purpose which is "greater than you".

Usually this revolves around helping people in your niche to overcome a common problem, to lead people towards their end goal, or both!

Although this isn't a new concept. It's something that all the major companies have been doing since the dawn of time.

It all boils down to having a mission statement, a vision statement, and a list of your core values.

Previously I thought it was "too corporate" to think about, as I had the image of boring people in suits gathered round a table discussing the individual words to use.

BUT, it gives your business a greater purpose, which motivates you to achieve more - which means your sales go up as a result.

(Yes - it means you make money as a side-effect of changing the world for the better!)

We've recently taken this advice in our own business over the last week or two, and here's the result...

Mission Statement:

To mentor our customers to succeed selling digital products and services in their online business, while living their ideal lifestyle.

Vision Statement:

Our 5 year vision is to inspire, teach and help 1,000 entrepreneurs to achieve financial freedom by selling digital products in their online business while living their ideal lifestyle. We aim to provide a high quality service that goes above and beyond our customers' expectations and we endeavour to do so with integrity and trust.

Core Values:

  • Help, support, and respect our customers to the highest standards.
  • Improve yourself and your skills every day.
  • Be positive, resilient and optimistic.
  • Support your team and collaborate with them.
  • Make decisions and be accountable to them.
  • Empower and inspire people to make positive changes.
  • Celebrate the victories, regardless of size.
  • Know the reasons why.
  • Always show integrity.

(You can also see them on our About page.)

Just don't copy these word for word because a) our business is different to yours, b) plagiarism is illegal, and c) they should be related to YOUR specific goals so they motivate you.

Previously all those things were kept in our heads, but by having them down on paper we became accountable to them.

Now whenever we have to make a decision, we refer back to the statements and core values, and see if it fits in with them. If not, we don't do it.

(TIP: This also helps you to focus on the most important aspects of your business too, as it prevents you from creating or promoting products that don't connect with your market.)

So how do you implement this into your own business?

Put simply...

Your mission statement is what your business does or helps people to achieve.

Your vision statement is how you want to change the world for the better in the next 5 years.

Your core values are the rules you and your business abides by to provide a good experience for your customers and your team (if you don't have one yet, you can leave these out).

They should only take less than an hour to come up with, but it'll give you a greater sense of purpose in your business, increase your motivation, and therefore make more money - while making the world a better place.

Try it for yourself and see what you come up with 🙂

Have a great day!
- James Francis.
Founder & CEO, Digital Prosperity.

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One Response

  1. Excellent post, James. You not only spelled out the importance of the statements and values that support your business. You also offered examples of each AND listed exactly what we need to do to implement similar success principles in our own businesses. Anyone reading this will see the value in these ideas and will know just how to implement them! Thanks!

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