Less products, more purpose.


If the last few years have taught us anything, it’s that things can change – fast. The world is unpredictable and big events can turn everything on its head overnight. This can be stressful for business leaders. How do you know that you’re prepared for the next economic shock or political U-turn?

At FutureX, we’re big advocates of always coming back to your purpose and values. You might have an excellent product or service, but can you be sure they’ll never become redundant or irrelevant? If you focus on your purpose, supporting your customers no matter what, it’s easier to react to changes, pivot and decide a new course of action. In fact, during the COVID-19 pandemic, B Corp companies were deemed 63% more likely to survive than non-B Corp businesses.

A broader perspective

Following your purpose lets you look beyond what you’re currently offering and instead ask how your company’s resources can best help people.

For example, during the pandemic, mattress company Leesa pivoted from making personal mattresses to manufacturing hospital beds. They saw the increased demand and the opportunity to help people in need.

In just 48 hours, the Leesa team put together a product bundle specially created to meet the needs of hospitals. They designed a new fit-for-purpose mattress, hospital-grade mattress cover and a simplified metal bed frame. As a certified B Corp, it was already part of Leesa’s culture and business model to give back. Their mission is “to be a positive force in the world — because everyone deserves better sleep”, and they regularly donate mattresses to those in need.

Focusing on this new customer group that needed support, instead of simply pushing their existing products, allowed Leesa to make money and make a difference.

Improving your offerings

Revisiting your purpose also helps you make your products and services the best that they can be and creates the biggest impact. You can ask yourself: have the needs of our customers and communities changed? Is this still the best way to help them? What feedback or research could inform what we do going forward?

For example, outdoor clothing manufacturer Patagonia is one of the most celebrated ethical companies. One of the reasons for this is that they’re always actively finding new ways to help their customers achieve a more sustainable lifestyle. While they originally purely manufactured new clothing, in 2017 they launched their second-hand range Worn Wear. This acknowledged the growing concern about the amount of waste caused by fashion and a growing desire from consumers to buy second-hand. Patagonia weren’t hell-bent on selling the same old products – instead, they were dedicated to their purpose. And it’s paid off in swathes of loyal customers and a reputation as a front runner in ethical fashion.

Re-examining your purpose

When’s the last time you took a look at your business’s purpose and reviewed how aligned your activities are? If it’s been a while, it might be worth checking back in and taking stock. While purpose is important for business, staying true to that purpose is every bit as fundamental to business success.
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