HOW TO EMPOWER YOUR BUSINESS WITH GOLDEN CIRCLES?
When it comes to motivation and driving behavior, Simon Sinek, a popular speaker, is killing the platform with his speeches. In one of his TED talks, he talked about the concept of the Golden Circle to understand a business and the response of customers towards it.
You might be wondering what this Golden Circle is. These three circles are defined as:
- Why- The purpose of your business. It is basically your cause and belief for your business.
- How- The process of your business. It is your actions and what you do to realize your business goal.
- What- The result of your business. It is about what you achieved with your actions and about long term outcomes.
So, how are these circles helpful to your business?
To use this method, you should have a deep understanding of your product. You then need to study the product’s benefits and the solution it is providing. Most people focus on how to do what your business is supposed to do but often overlooked why you are doing it. What is the inspiration and motivation behind it? Does it provide value to you as well as your customers?
For instance, when we talked with a popular bookshop owner and asked him why are you doing this particular thing. He said that he is passionate about books and enjoys talking and recommending good books. When asked about how and what factors, he said that he builds his brand by constantly processing what’s the trend and what people are looking for.
Does it matter how big and small you are?
Certainly not. Companies of all sizes need to think, communicate and act according to their product and the target audience. From multinational companies (like Apple and Google) to small companies like disruptive advertising adopt these principles in every aspect of the business.
This approach could also be used in personal matters. If. you ask me why I am working here, I would say that to build meaningful relations and impart some knowledge. My “how” would be by helping businesses to navigate and win over online marketing. Lastly, my “what” would be to be better at understanding and writing things.
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People will find interest in why you are doing it rather than what you are doing.
Let’s take the automobile giant Ford’s example. What first thing comes to you when you hear Ford? It might be its slogan which is “Go Further.” They build vehicles that run beyond the limits of mileage per gallon, and on the other hand, these vehicles are capable of any challenges on and off-road. Their slogan is straightforward, memorable, and classic. They believe in the values they create with their product.
They explain the three circles in the following manner:
- Why- They want to inspire people to “Go Further.”
- How- They develop cutting-edge technology with the help of high-end resources.
- What- They create products suitable for your driving needs.
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No company is perfect. They all have their share of mistakes and learn from them. Ford is no different, but it has a long and lasting impact on the consumers, which led it to the top of the sales chart among other major automobile brands.
“Why” in the three circles is not only about making a profit. You need to have a real reason behind why your business exists. Whether you want to implement the golden circles in your marketing strategy or your reasons for working, make sure you start with the why thing and then move further to how and what.
Starting with why results in audiences identifying with your purpose and brand identity.
If you are clear about “why”, your audience will be able to identify your purpose and brand identity.
For instance, Apple could say that they make the best computers that are designed beautifully and user-friendly. But instead, they communicate their business message in everything they do; they believe in thinking differently. They challenged the standard design and technology and developed up-to-the-mark designed and user-friendly computers, which happen to be great.
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Why should you start with why?
- If you are not able to interpret your company’s why, only quality, features, and price remains the differentiating factor.
- With a robust reason why your business exists, you create products on values that can justify a higher price point.
- Once your consumers start believing in your mission, you will be able to create a long-lasting and deeper relationship with them. This helps to make them your loyal customers.
To stand out in the market, it is crucial to position your brand and this “why” helps to achieve that. Remember that you are here to provide unique solutions to complex business problems. So, find your sense of “why” behind your efforts and stand strong for it.
I hope this golden circle will help you to boost your business. You can also share your ideas with Cogenttalks.