Business Best Practice Checklist: Company Purpose

Your purpose should underpin everything your brand stands for and does. Review your business practices against best practice business benchmarks to identify gaps that may be holding you back or putting your business at risk.

Best Practice Company Purpose

In business terms, your purpose is the “WHY” that your business exists, and it’s the first vital step towards your brand’s differentiation.

Having clarity and focus on how you’ll communicate your purpose to the world is one of the best ways for any business to differentiate and succeed.

When you lead with purpose, integrity follows. This is what everyone is searching for today – someone to trust. If you think about the brands that have iconic status, it’s because of what they stand for that they are able to stand apart.

Today your purpose should underpin everything your brand stands for and does.

How does you business stack up?

Review the best practice checklist to find out.

Business Best Practice Company Purpose: The Checklist

  • Are you crystal clear on why you are in business and what you want the business to achieve?
  • Do you have a clearly defined and well articulated purpose statement?
  • Does your purpose resonates with your ideal clients and team? Have you asked them?
  • Do you refer to your Purpose to guide you in finding and attracting the right staff?
  • Have you woven your purpose through your brand story?
  • Is your purpose clearly demonstrated in all your marketing and communications?
  • Does your purpose guide your decision making?
  • Are the day to day operations of your business directly linked to your purpose so you and your people can see on a daily basis how they are contributing to the purpose?

What are Best Practice Benchmarks?

Also known as generic or process benchmarks.

As the names suggests Best Practice Benchmarking involves identification of best practices across generic functions, processes or operations, identifying the most effective operating practices from other businesses that perform similar functions.

Best Practice Benchmarking is effective across the full range of generic business operations: branding, marketing, sales, operations, financial management, technology, human resources, risk mitigation and strategic planning.

The Better Business for Good Company BIPlan System® is an example of Best Practice Benchmarking.  Developed by a team of small business specialists the BIPlan System enables every small business to benchmark their business against  over 200 individual benchmarks covering areas as diverse as brand identity, financial management, management of people and risk, customer relationships and environmental impact. Each item is important in their own right, some take longer to implement than others, but taken as a whole they help a business to become more profitable as well as a good corporate citizen.  

Other types of business benchmarking include performance, functional, operational, industry and competitive. Learn more about how the different forms of benchmarking can help your business.

Want to make your business more profitable, scalable and saleable?

Measure, manage and improve your business against more best practice checklists like this.

Developed by small business specialists, the BIPlan System is the most credible tool a small business can use to measure, manage and improve their business practices against best practice standards.

 

  1. Assess how your business performs against dozens of best practice checklists. Taking the Assessment alone will be a valuable, eye-opening experience.
  2. Compare your answers to best practice standards developed, tested and proven by Australian small business specialists
  3. Create and implement a customized improvement plan for your business with our best practice guides and the support of our business advisors and specialists to help you implement