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What is Source in your business and 5 reasons why this is vital to identify

There is a Source point within every company, business or organisation. This can be the founder of the company or even an idea.

Once you understand this, you will understand exactly what companies are fighting for or using to expand and grow.

Without knowing what the Source of the Company is, you can do nothing for it.

The reason why most companies fail is because they fail to understand the Source of their company and the 5 reasons why Source is so important are as follows:

  1. Source equates to Purpose

As an example – you start a company that is formed around the idea of protecting the assets of households from damage, theft or loss. The ‘Source’ of your business is protecting the assets of your customers. This is the idea. This is also your Purpose.

Now that you know this, you know exactly what it is you are trying to achieve. When things get tough realize that you are slipping away from Source and going into some other Purpose so get back to Source.

  1. Source brings recognition

Elon Musk and Richard Branson are both Source for Tesla and Virgin respectively. We recognise the brand and what it stands for through these figures and this is great for PR and expansion.

  1. Source brings stability

When you know what you are doing, why you are doing it and what you are doing it for you have more certainty and stability. From this you have a base from which to work, grow and expand.

  1. Motivation comes from Source

Are your employees not working as hard as they should or doing other things besides their job? Realize that they are not maliciously trying to do you in, they are just forgetting about the Source of the company.

They need to be reminded of the Purpose of the company and what they are responsible for to achieve the Purpose.

You may even find that your employees never even knew what the Source of the Company is. They were just “pushing paper” to get a pay check at the end of the day.

  1. Know the Source to fuel your business

Once you know your Source you are able to move forward, grow and expand.

It may sound way to simple but it is worth knowing that the reason companies fail is because they forget their Source or never even knew it in the first place.

Once you have established Source, you then need to protect it.

As Financial Gurus, we can help you protect what you have to then grow and expand.

Help us help you.

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