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We need to see more businesses, start-ups and entrepreneurs embedding purpose in their business, writes Nancy Youssef.
We need to see more businesses, start-ups and entrepreneurs embedding purpose in their business. Why? Because a purpose-led business model is going to help you not just survive the tough times, but truly survive. Here’s my advice on how to be more kind in business, because that will have a domino effect in our community.
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The word purpose is thrown around a lot in business circles, but I’ve discovered that there are two very different executions.
There are those business owners who use the word purpose as a “buzzword”. They know it sounds switched on and catchy and they wholeheartedly embrace the word purpose, without putting any real weight or meaning behind it.
Then, there are those who truly get it. They don’t just use the word purpose, but they fully stand for something more than what they do commercially.
This is something that really hit home for me several years ago. With a passion for giving back, I’ve always donated to charities and supported causes. But in 2017, I travelled to Malawi, Africa to learn more about the work of The Hunger Project Australia. I met and was inspired by so many incredible people, living humbly in communities where just $250 was the difference between living under the stars and having a home.
That moment changed me, forever. I came back from Malawi with a renewed passion and purpose to make a difference in the world. I set myself a goal of raising $200,000 for communities in Malawi by 2020, through a range of fundraising initiatives. COVID made a few waves, and I didn’t quite hit my goal last year. But I’m thrilled to report that in 2021, the total funds I’d raised for work of The Hunger Project were just over $201,000.
As an energetic philanthropist, my goal was to raise large sums of money to help build resilience through business skills in some of the poorest corners of the world. But my passion for effecting change and inspiring people to go for what they really want in life had roots in my business practices and philosophies, far before I took flight for Africa.
With a passion for finance and almost two decades of industry experience, I’ve seen the mortgage broking industry go through countless changes during my career. From regulatory intervention to banks’ changing the way they do business, to riding the peaks and troughs of property market cycles and navigating the chaos of the recent pandemic, the industry never stays in one place for very long.
To me, this is a good thing – it ultimately means innovation, growth and positive change.
But it also means discomfort, challenges and setbacks. It’s during these difficult times that it can be so difficult to find the courage, drive and determination to keep going.
I know – I’ve been there. I’ve had the difficult clients, the challenging staff situations and the unexpected setbacks. I’ve had those months where clawbacks eat into profit, and the books are not looking so crash-hot. I’ve had endless frustrations, upsets and disappointments, and even though this is your professional life, it’s hard not to take it personally.
This is why I find my work as a mentor to be so rewarding. Back in 2011, a decade ago, I first launched Classic Mentoring and Coaching. Since then, I’ve offered industry mentoring to dozens and dozens of mortgage brokers (and more recently, other established small-business owners).
Having built my own business through trial and error, I wanted to save others from making those same mistakes, so they could jump right ahead to the good stuff. We run through everything to do with logistics, from business structure essentials, marketing and lead generation, through to referral partners, compliance, business metrics and systems and processes.
And we also troubleshoot the business development and growth side of mentoring, with a healthy focus on mindset.
Sometimes, people in the industry ask me: “Why would you give away all of your trade secrets to what is essentially your competition?” My answer is simple. In my view, there is more than enough pie for everyone to get a slice, and I’m happy to share what I’ve learned in order to help foster the next generation of successful brokers.
This is what having a purpose-led business model is all about. When your guiding force is to ultimately help others succeed, it propels your own success. My goal is to help people set and achieve their goals and dreams, whether they’re in Malawi, Africa, or Sydney, Australia!
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