In this episode of the For Love and Money podcast, Carolyn Butler-Madden explores the concept of being a purpose-led business or leader by challenging the traditional notion of starting with "why". She introduces the idea of starting with "who" as a fundamental approach to understanding and defining a business's purpose. By understanding who you are as an organisation and whom you’re aiming to serve, leaders can build a more authentic, connected brand purpose that deeply resonates with both their people and customers.
Carolyn delves into the success story of Liquid Death, a beverage brand that has disrupted the bottled water market with its rebellious and sustainable branding. She illustrates how Liquid Death's unique identity and understanding of its audience have propelled it to success.
Carolyn revisits Simon Sinek's "Start With Why" framework, using Apple's evolution as an example to highlight the importance of aligning a brand's identity with its purpose. She argues that businesses need to understand their unique characteristics and values—'who' they are—to truly connect with their 'why' and drive meaningful change.
Carolyn also addresses the limitations of generic purpose statements, using Australia's major banks as examples, and highlights the vital role that meaningful purpose can play in connecting with employees, customers, and communities.
Throughout the episode, Carolyn emphasises the significance of a meaningful purpose in today's business landscape, exploring its impact on financial performance and societal contributions. She encourages organisations to embark on the journey of discovering "who" they are to build deeper connections with stakeholders and foster a movement for positive change.
Key Takeaways:
- Rethinking Purpose: Start with WHO: Uncover why understanding your organisation’s unique identity and values can transform your purpose from a "nice-to-have" statement into a powerful rallying call.
- Liquid Death Example: Learn how this unconventional bottled water brand redefined its category by embracing a bold identity that aligns with environmentally conscious consumers and builds a community around "people like us."
- Purpose Beyond Profit: Carolyn shares her definition of purpose—“the change your organisation contributes to society in a financially sustainable way, through and beyond your products”—and explains why it’s essential for today’s world.
- Crafting a Meaningful Purpose Statement: Insightful questions to start your journey with WHO.
Links:
Related episode: Episode 25 “People Like Us”
Referenced episode: Episode 16 Nicky Sparshott, CEO Unilever Australia & New Zealand (now Global Chief Transformation Officer, Unilever) on Purposeful Leadership
Learn more about my work and how you can Start with WHO here
Connect with me on Linkedin here
Popular Podcasts
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.