According to the Hubspat’s 2023 article, more than 90% of startups failed. This means that 9 out of 10 entrepreneurs who take a leap to start their own business are not going to be successful with this initiative. The causes of these statistics are complex and diverse: the lack of funds for giving a few names, the market missalignment or weak execution. But today, let’s look at a factor that is often ignored: the purpose.
Specifically, how is your version If the purpose is your startup may take a decided role Success or collapse.
Two types of purpose
Purpose, when it comes to startups (and life), it can be classified in two types:
- Large p objective: This is courageous, goal-based objective. It is a pursuit of huge success such as creating a seven-image business, being billionaire or gaining extensive recognition. Large P purpose is external results – impact, inheritance and money. Although it is inspirational, it is disappearing and often dependent on outside reasons for your control, such as the market situation and the perfect fate.
- Small P objective: In contrast, slight P is based on the purpose process. It’s about looking for joy and perfection in the daily work of making your business. If you have hit the jackpot it is not bound with it but focuses on doing things that stimulate and encourage you. Little P purpose is plentiful, achievable and inherently satisfactory.
The kind of purpose you follow can have a profound effect on your starting journey – and its final result.
Why Big P Purpose May Ltd. Your Startup
Many founders begin them Entrepreneur To chase the purpose of the big p. They are driven by huge impact, financial success and converting philosophy InventionThe However this pursuit can put your business at risk in various critical ways:
- Burnout
When your purpose is fully bound to a high goal, it is easy to lose the daily grind view of a startup that comes with creating a startup. The BigP purpose is to focus on the destination, not the journey – and there is danger.
Startups are high and low, full of success and disaster. If the process does not enlighten you, those inevitable challenges can be burnout long before you reach your goal. You will find more difficult to stay Inspired In difficult times, you will probably make it even more before you succeed.
On the other hand, the little P purpose – enjoying the process – acts as a protection against the burningout. When the work itself makes you excited, the adversity against you is more likely to persevere.
- Long hours
Let’s face it: Startups demand long, frustrating hours. Many founders work 60 to 80 hours a week, leaving weekly holidays, evenings and personal time.
If you are simply driven by the Big P purpose, these long time may feel like Dardzi. You will feel more difficult to call Stamina, especially when progress is slow or results are not instant.
However when you combine with the little P purpose, the long time becomes more tolerable – even enjoyable. You are doing things that enlighten you and that emotion gives you fuel in the late night and dawn.
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- Inspiration and cooperation
Startups are rarely single attempt. Whether you are leading a party or cooperating with co-founders, your skills to inspire and do good with others are important for success.
When you are chasing big P objectives, it is easy to get into the trap of focusing on the only end goal by neglecting the process and energy you bring to the table. It can make others more difficult to inspire or create meaningful cooperation.
In contrast, following the purpose of the little P makes you more employed and enthusiastic about your work. That energy is contagious – like a moth from a flame, people are attracted to your excitement. They will want to cooperate, share their skills and learn from you. The inspiration is naturally flowing when you are truly illuminated by what you are doing.
- Why is the money not yours
Let us be truthful – most people enter startups in anticipation of financial success. But if the money is only you are you are preparing yourself for disappointment.
Why? Because startups are unwanted. Even with the best business model and performance, there is no guarantee of paying big payments. If your only focus is toward the purpose of the big P, you will probably feel lost and frustrated if you do not have things as planned.
The little P purpose, however, transfers the focus. It’s about looking for money and enjoyment in the process. Even if your startup does not hurt its financial goals, you can still leave for the work you have done with the perfect and proud of the work you have done.
A final thought: Given the new definition of success
Success in the Startup World is often defined by external metrics – infidels, market shares and evaluation. However, those metrics are transient.
By alignment of the little P purpose, you define success in your terms. The work you enlighten, focus on the joy of creating something meaningful that inspires you.
And here’s the irony: When you concentrate on Little P objectives, the big win is often followed. Your strength, enthusiasm and dedication create the conditions of success, whether it is financial, personal or professional.
Conclusion
If your startup fails – or if you’re feeling burning – like to ask yourself: Are you chasing the wrong type of purpose?
The big P purpose may look impressive but it is often unstable. On the other hand the little P is abundant, accessible and fulfilled. By focusing on the process, you are not just the possibility of enjoying the journey – you too are more likely to succeed.
So, take a step back. Rebuild your why. And remember: This is not just about the destination. It’s about to find the joy of climbing.
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