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The concept of finding your “why” has taken center stage in the entrepreneurial world, and is one of the current favorite “buzz words” that you will hear a lot of “business coaches” tell their clients to do. Your why is the driving force behind your business, the reason you get up every morning, and the passion that fuels your work. Understanding your “why” can provide clarity, motivation, and a sense of purpose. It’s the compass that guides your entrepreneurial journey, helping you navigate the challenges and opportunities that come your way (and the one thing that helps you keep showing up every day).
However, while the “why” is a powerful tool (and I will dip into it below), it’s not the be-all and end-all of your business journey. For one thing, it’s all about you and not about your team or your customers. It’s a starting point, a spark that ignites your entrepreneurial spirit. But to truly create a business that stands the test of time, you need to think beyond the “why”. You need to consider the impact of your business, the mark you want to leave on the world, and the legacy you want to create.
The “why” approach can help you understand your motivations and align your business with your passions. It can guide your decisions and help you stay true to your values. But focusing solely on the “why” can sometimes limit your perspective. It can keep you rooted in the present, without considering the long-term impact of your business. This is where the concept of legacy comes into play.
The Five Whys technique is a popular method used by entrepreneurs to dig deeper into their motivations. By asking “why” five times, you can peel back the layers of your business and uncover the core of your purpose. It’s a powerful tool for self-reflection and introspection, helping you understand the deeper reasons behind your actions.
The Five Whys technique is a simple yet powerful tool for digging deeper into your motivations and understanding the root cause of your actions. Here’s a step-by-step guide on how you can use this technique to uncover your “why”:
Start by identifying a specific action or decision related to your business. It could be anything from launching a new product to choosing a particular marketing strategy. The key is to focus on something concrete and specific.
Once you’ve identified your action or decision, ask yourself “why?” Why did you choose to take this action or make this decision? Try to be as honest and thorough as possible in your answer.
Take your answer from Step 2 and ask “why?” again. This second “why” should dig deeper into your motivations and reasons. For example, if your first “why” was about meeting a business need, your second “why” might explore why that need is important to your business.
Repeat the process, asking “why?” for each previous answer until you’ve asked “why?” five times. Each “why” should peel back another layer of your motivations, getting you closer to the root cause or the core “why” behind your action or decision.
After you’ve asked “why?” five times, take some time to reflect on your answers. What patterns do you see? What insights have you gained about your motivations and values? This reflection can help you understand your “why” on a deeper level and guide your future actions and decisions.
Remember, the Five Whys technique is not about finding the “right” answer. It’s about exploring your motivations, understanding your actions, and gaining insights into your own behavior. It’s a tool for self-reflection and self-understanding, helping you align your actions with your values and goals.
While the Five Whys technique is a powerful tool for self-reflection and understanding, it does have its limitations, particularly when it comes to long-term strategic planning and legacy building.
The Five Whys technique is inherently focused on the present. It asks you to examine your current actions and decisions, and the motivations behind them. While this can provide valuable insights into your current business strategy, it doesn’t necessarily help you plan for the future. It keeps you rooted in the “now,” potentially at the expense of long-term planning and vision.
By focusing on the present, the Five Whys technique can sometimes overlook the future impact of your decisions. It doesn’t encourage you to consider how your actions today might affect your business in the future. For example, a decision that makes sense today based on your current “why” might not align with your long-term business goals or the legacy you want to leave.
Perhaps the most significant limitation of the Five Whys technique is that it doesn’t encourage you to think about your legacy. It doesn’t ask you to consider the long-term impact of your business, the mark you want to leave on the world, or the values you want your business to embody. This focus on the present can prevent you from building a business that not only achieves financial success but also makes a meaningful, lasting impact.
The Five Whys technique, if used in isolation, can inadvertently foster a reactive rather than proactive mindset. By constantly examining the reasons behind current actions or problems, entrepreneurs may find themselves in a cycle of responding to immediate issues (urgent) without adequately planning for future challenges or opportunities (important). This can stifle innovation and limit growth potential.
To truly create a business that lasts, you need to think beyond the “why” and consider your legacy. This means not just understanding your current motivations, but also envisioning the future you want to create. It means making decisions not just based on immediate needs, but also on the long-term impact and the legacy you want to leave. By integrating the Five Whys technique with a legacy-focused mindset, entrepreneurs can build businesses that are not only successful in the present, but also poised for future growth and impact.
A legacy mindset shifts the focus from the present to the future. It encourages you to think about the long-term impact of your business and the mark you want to leave on the world. A legacy mindset isn’t just about making a profit; it’s about making a difference.
Consider entrepreneurs like Elon Musk and Steve Jobs. They didn’t just build successful businesses; they changed the world. They thought beyond their “why” and focused on the legacy they wanted to leave. Their businesses are more than just companies; they’re movements that have shaped society and will continue to do so for generations to come.
Not everyone can – or should necessarily want to – change the world.
Adopting a legacy mindset can help you create a business that stands the test of time. It can guide your decisions, shape your strategies, and influence your company culture. A legacy mindset can help you build a business that’s not just profitable, but meaningful.
For many entrepreneurs just starting out on their journey, finding their “why” is a crucial step. It provides a sense of purpose, fuels passion, and serves as a guiding light in the early stages of business growth. It’s a powerful motivator that can propel a business to its first six-figure year. But when it comes to scaling to seven figures and beyond, a deeper, more future-focused mindset is required. This is where the shift from “why” to “legacy” becomes essential.
While the “why” can drive initial growth and success, it can become a limiting factor as you aim for larger goals. The “why” is often rooted in personal motivations and immediate objectives. It can keep you grounded in the present, but it may not provide the expansive vision needed to scale your business to seven figures and beyond.
Shifting your mindset to focus on your legacy allows you to think bigger and plan further into the future. A legacy is more than just a business goal; it’s the long-term impact you want to have on your industry, your community, and the world. It’s about the values you want to instill, the changes you want to inspire, and the lasting contributions you want to make.
When you start thinking about your legacy, you’re no longer just planning for the next product launch or marketing campaign; you’re envisioning the future of your business and the mark you want to leave. This shift in mindset can open up new possibilities, inspire innovative ideas, and fuel your drive to achieve bigger goals.
For entrepreneurs aiming for seven-figure growth and beyond, legacy thinking is not just beneficial—it’s essential. It pushes you to think beyond immediate profits and short-term success. It encourages you to build a business that’s not just successful, but also sustainable and impactful.
Legacy thinking also aligns with the mindset of your customers. Today’s consumers want to support businesses that stand for something more than just profits. They’re drawn to brands that have a clear vision for the future and are committed to making a positive impact. By focusing on your legacy, you can attract these customers and build a loyal community around your brand.
So, as you prepare to scale your business to seven figures and beyond, consider making the shift from “why” to “legacy”. Reflect on the impact you want to have and the legacy you want to leave. Use this vision to guide your decisions, shape your strategies, and drive your growth. Remember, building a successful business is not just about achieving financial milestones; it’s about creating a legacy that lasts.
The concept of legacy can take on different forms depending on your personal aspirations and the impact you wish to create. Here are a couple of examples:
Family Legacy: For some entrepreneurs, legacy is about creating a business that can be passed down through generations. It’s about building a family empire that provides security and prosperity for their children, grandchildren, and beyond. This type of legacy requires a focus on long-term sustainability, succession planning, and instilling the values of the business in future generations.
Community Impact: For others, legacy is about making a significant impact in their local community. This could be through creating jobs, supporting local initiatives, or providing services that enhance the quality of life in the community. This type of legacy is about being a good corporate citizen and using your business as a force for positive change at a local level.
Industry Influence: Some entrepreneurs aspire to leave a legacy of influence within their industry. They aim to innovate, disrupt, and set new standards. Their legacy is about contributing to the advancement of their industry and leaving a mark that future entrepreneurs in their field will remember and respect.
Global Change: Finally, there are those who dream of leaving a global legacy. These entrepreneurs aim to solve global problems, drive social change, or create products that transform the way we live. Their legacy transcends borders and their impact is felt worldwide.
Each type of legacy carries its own set of goals, challenges, and rewards. The key is to identify the type of legacy that resonates most with you and aligns with your values and vision. This will guide your entrepreneurial journey and help you create a business that not only achieves financial success, but also leaves a lasting impact.
In the entrepreneurial journey, both your “why” and your “legacy” play pivotal roles. They serve different purposes and connect with different aspects of your business, but together, they create a powerful synergy that can drive growth, foster connection, and inspire lasting success.
Your “why” is deeply personal. It’s the reason you embarked on your entrepreneurial journey, the passion that fuels your work, and the driving force that keeps you going on the hard days. Your “why” is your personal motivator, the spark that ignites your entrepreneurial spirit.
On those inevitable tough days, when challenges seem insurmountable and your energy is flagging, it’s your “why” that can reignite your passion and resilience. It’s the reminder of the reason behind your efforts, the purpose that makes all the hard work worthwhile. Your “why” is the fuel that keeps your entrepreneurial engine running, even when the road gets tough.
While your “why” is personal, your “legacy” is the piece that resonates with others. It’s the vision of the future that you’re working to create, the impact you want to have on the world, and the lasting mark you want to leave. Your legacy is what connects you with your team, your customers, and your community.
Your legacy is not just about what you do; it’s about how you do it and the impact it has. It’s the values you uphold, the culture you cultivate, and the change you inspire. Your legacy is what sets you apart, what makes your business more than just a profit-making entity, but a force for positive change.
While your “why” and your “legacy” serve different purposes, they are not mutually exclusive. In fact, they can and should work together to drive your business forward. Your “why” fuels your personal journey, keeping you motivated and focused. Your “legacy”, on the other hand, connects you with others, inspiring your team and captivating your audience.
When your “why” and your “legacy” align, you create a powerful synergy that can propel your business to new heights. You’re not just working for personal fulfillment; you’re working to make a difference. You’re not just building a business; you’re creating a legacy. And that’s a powerful motivator for you, your team, and your audience.
Creating a legacy is a journey that requires deep introspection, strategic planning, and a steadfast commitment to long-term success. Here’s an expanded step-by-step guide to help you craft your legacy:
Your legacy should be a reflection of your values. What do you stand for? What do you believe in? What principles guide your actions? These values should be the bedrock of your business and the guiding force behind your decisions. Reflecting on your values can help you understand what kind of legacy you want to leave. Ask yourself:
Once you’ve reflected on your values, it’s time to define your vision. This is your opportunity to dream big and envision the future you want to create. What do you want your business to achieve in the long run? How do you want to change the world? Your vision should be ambitious, inspiring, and aligned with your values. It should paint a picture of the future you want to create, the impact you want to have, and the legacy you want to leave. Consider these questions:
Your business goals should be a reflection of the legacy you want to create. Every decision you make, every strategy you implement, should be in service of your legacy. This alignment can help you stay focused on your long-term vision and ensure that your business is moving in the right direction. It can help you create a business that’s not just successful, but impactful. Reflect on:
Your legacy shouldn’t be a secret. It’s a powerful narrative that can inspire your team, captivate your customers, and resonate with your community. Share your vision and values, and how they shape your legacy. This can build trust, foster a sense of belonging, and create a community around your business. It can help you attract like-minded people who share your values and vision, and who want to be part of your journey. Ask yourself:
Remember, crafting your legacy is a continuous process. It’s about making strategic decisions that align with your values and vision, and consistently communicating this legacy to your team, customers, and community. It’s about creating a business that’s not just successful, but also meaningful and impactful.
Once you’ve defined your legacy, it becomes a strategic tool that can guide your business decisions. The Legacy Framework is a practical approach that uses your legacy to inform and shape your decisions, from personnel management to product development. Here’s how you can apply it:
Every decision you make should be in alignment with your legacy. Whether you’re considering a new product, a new hire, or a new strategy, ask yourself: Does this decision align with my legacy? Will it help me achieve the long-term impact I want to have? If the answer is yes, then it’s likely a decision worth pursuing.
Your legacy can serve as a filter for potential decisions. If you’re unsure about a decision, consider its impact on your legacy. Will it enhance your legacy, or detract from it? Will it bring you closer to your vision, or take you further away? This filter can help you make decisions that are not only good for your business in the short term, but also beneficial in the long term.
When communicating your decisions to your team, customers, or stakeholders, frame them in the context of your legacy. Explain how the decision aligns with your values, contributes to your vision, and enhances your legacy. This can help others understand your decision-making process and feel more connected to your business.
Your legacy is not set in stone. As your business grows and evolves, so too should your legacy. Regularly revisit your legacy and refine it as needed. This will ensure that your legacy remains relevant and continues to guide your decisions effectively.
By using the Legacy Framework, you can ensure that your decisions align with your values and contribute to your long-term vision. It provides a consistent, values-based approach to decision-making that can guide your business towards success and impact. Whether you’re facing a minor decision or a major crossroads, the Legacy Framework can help you make decisions with confidence and clarity.
Adopting a legacy mindset can have a profound impact on your business. It can guide your decisions, shape your strategies, and influence your company culture. A legacy mindset can help you build a business that’s not just profitable, but meaningful.
Moreover, a legacy mindset can enhance your brand reputation. Customers today want to support businesses that stand for something. By focusing on your legacy, you can show your customers that you’re committed to making a difference and earn their loyalty in the process.
In conclusion, while understanding your “why” is important, it’s equally crucial to think about the legacy you want to leave through your business. By adopting a legacy mindset, you can build a business that’s not just successful, but impactful. So, as you continue your entrepreneurial journey, remember to look beyond the “why” and embrace your legacy.
Vicky is the CEO and Chief Creative Strategist of Vicky Wu Marketing. She draws from 30 years of experience at the CMO level, the CEO level, marketing for Fortune 500 companies and multi-million and multi-billion-dollar organizations, PLUS strategies learned helping startups and nonprofits with limited budgets … now focusing on providing SMBs with effective and efficient marketing strategies – giving them access to the same level of expertise as the really big guys with deep pockets, that they may not otherwise be able to access.
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