What is motivating your home business? Having a good understanding of what it is you are trying to accomplish and what is motivating you in your home business operation can help you stay on track–and get back on track–as you maneuver through the challenges of every day.
All businesses–whether huge corporations or small home businesses–can identify the very core of what is motivating operations. A “mission driven” business is one where there is a clear, identified mission that motivates employees and is key in all major decisions. Nonprofit organizations are all mission-driven, but there are many other businesses that consider mission and purpose to be more important than profit. A small educational magazine or a large publishing company may have at the foundation a desire to provide information and education to clientele, not necessarily make as much money as possible.
A “profit driven” business is motivated by the bottom line–how much revenue can be generated and how can the profit margin be increased? If this is your business, then decisions will likely be made based on how to grow revenue, diminish expenses and generate profit. While the business may have a mission, the goal is really to make money.
One of these styles is not right or better or more desirable. It just helps to have a clear understanding of why you are in business and what you are working to accomplish. Some businesses may actually feel like they are both–mission and profit driven–and that is absolutely fine, as long as you have a clear understanding of what you are about. Having an eye on whether you are mission-driven or profit-driven will give you a guideline for making decisions and taking the business in a direction that is appropriate for what you want. As the business grows and changes, staying in touch with motivation can be very important.
See Also: How Much Are You Willing to Accommodate?
Do You Know and Understand Your Market Conditions?