Purpose first

Its Devoted Purpose For Miracle Growth

In the 1970s, a group of at-risk teens in South Beach, Miami, became obsessed with shark fishing. Before becoming the high-end bikini beach of today, South Beach was a low-rent area with a reputation for being dangerous. Compared with Los Angeles or New York, where troubled youth joined gangs, South Beach provided skateboarding, surfing, and shark fishing as its purpose.

Brand purpose

Every great brand has a purpose beyond making money. The product serves the company's purpose, which begins with the founder. For example, Spanx aims to help women feel more comfortable in their skin, and Apple aspires to improve people's lives.

Helping others

The purpose is not a slogan or byline. Instead, it is the actual reason the company exists. It attracts people to the brand, and that is why the founders wake up in the morning. Purpose can even be philanthropic, like Toms Shoes, which gives away a pair of shoes to someone in need for each one sold.

Shark club

Recently, Netflix released a documentary called South Beach Shark Club. This movie details how shark fishing resulted in multiple teens with no strong family life and few resources finding successful lives by chasing giant sharks. Such an endeavor gave purpose beyond the bleak surroundings to a juncture where many are now involved in professional fishing as a career.

The power of purpose

Building a company hurts. It is beyond hard to the point of producing pain. There are times of lack, immense fear, and moments when everything seems hopeless. However, the purpose pushes you through these times. The purpose keeps you focused on the customer's result and transcends sales, marketing, and branding to a moment that creates community.

Leadership

South Beach Shark Club was led by J.D. Hammer, a colorful adult who taught the teens who frequented the beach how to fish for sharks. The immense power and element of danger in ripping an apex predator from the sea were addictive. Each time J.D. shared his expertise with a troubled teen, that person became hooked on shark fishing instead of the destructive tendencies of the street.

Founders

The company's builders champion the purpose. Like J.D. on the fishing pier, they offer sage wisdom to others looking for hope. Some of those they teach will become better than the teacher, while others will never grasp the lesson. Those who learn the purpose will teach it to others, and it will grow.

Community

The central tenant of Banananomics' investment thesis is the community. A purpose creates and serves a community by resonating with individuals on a deep level. J.D. explains, "It is not always about catching a shark. Sometimes, it is about being together on a beautiful day." This community starts locally and grows. It may become global, but the root remains the purpose. It has the same purpose in Japan as in Canada, the U.S., and the Middle East.

Bicycles

Steve Jobs described computers as "bicycles for the mind." He read an article in National Geographic that explained human runners were slower than all other land-based mammals until they got on a bicycle. Once a person rides a bike, they become the fastest. Steve saw computing as expanding people's creative potential. In turn, such exponentiation of potential allows people to improve their lives.

Conclusion

The truth is that revenue is not a motivator. Once a person has met their daily needs with food, clothing, shelter, and safety, everything extra becomes nice but not essential. One needs more than money to bring a company from idea to exit successfully. The purpose is the fuel that merges individuals into a team and causes them to overcome pain and hardship. What is your company's purpose? Is it big enough to overcome the obstacles you face?

Hope this helps,

Todd Moses (CEO)

Let me know your thoughts: [email protected]