This product offers a higher-value solution to an everyday problem.
My son's school held a business fair this week. Students as young as seven had to conceive of a business idea, write a business plan, and sell their products to the public. My favourite concept: a toy placed in handmade soap to encourage younger children to wash their hands. The more you wash, the sooner you get that toy!
By turning hand washing into a game, this product offers a higher-value solution to an everyday problem. Sold!
Putting a new twist on an old idea is one of the best ways to innovate. How are you innovating?The best purpose-led companies don't just talk about making a difference. They build social and financial goals into their business plans, and pursue and measure both. As a result, they attract and retain workers - of all ages - who are looking for purpose over a paycheque. That means greater loyalty and productivity, and fewer turnover costs, which can equal greater profit.
What's your purpose?