The major purpose of any business is income generation. Too many of us miss seeing the most important part of building a business which is to create an impact or influence among the lives of our customers. We are too busy on how to make a profit rather than to have a significant contribution to the economy.
While we want to generate income for our business, creating an impact is what makes our business to the next level. Impact creates passive income. When you create something that helps people and makes an impact on their lives, that impact will keep the sales continually flowing.
Impact builds your brand and business. In the competitive world of business, the best way to stand out is to focus on the impact you can make, not by being a clone. Word of mouth is the strongest form of marketing because people are getting exposed to you and your business through people they trust. This is the best way to build a brand.
Impact can change lives. Too many products and services are created with the main goal of creating income. They usually don’t stand the test of time. The best way to survive a crisis to have an impact on sustainable community development. By doing so, we are able to make a legacy and legacy builds loyalty; thereby, increasing revenues of an enterprise.
When your business has a hand in changing someone’s life, they become a walking testimonial and constant marketing campaign. The world of entrepreneurship is flooded with hype, so when someone sees the real thing, they won’t hesitate to buy.
The benefits of a business can be even greater if you shift the focus away from simply making money. Your business will be worthwhile just like other companies that have stood the test of time.
When you create products and services that make a real difference in people’s lives, you separate yourself from everyone else. When you make an impact on people’s lives in a positive way, you create life-long customers that become your company’s evangelist.
Although huge profits can powerfully influence our thoughts and actions in ways that we’re often not aware of, no matter our economic circumstances, the impact of our business still counts.
Intuitively, one would think that a higher income produces better results, but in reality, it’s the other way around. When unemployment is high and the economy is stagnant, dynamic entrepreneurship could help turn the economy around. By developing a marketing niche, new firms can boost demand, which could in turn facilitate new employment opportunities; thereby, reducing unemployment.
In essence, the more the business is concerned with the community, the more stable and sustainable it becomes because of the long-term impact it brings in terms of employment and income.