Karen: This is the PKF Texas Entrepreneur’s Playbook; I’m Karen Love, Host and Founder. And I’m here again with Jackie Dryden, Chief Purpose Architect of Savage Brands. Welcome back to the Playbook Jackie.
Jackie: Thank you Karen.
Karen: I’m so glad you’re here because I want to talk to you about the purpose of the book we’ve been discussing that you co-authored with Bethany Andell from Savage Brands. And I understand the purpose and readjusting for culture and all of that; tell me more about that and do you really even need to make money to do this or is that even an issue while you’re focusing on the higher cause?
Jackie: Well it’s interesting; some people look at the title and they think well this is only about purpose, where is the profit part of the equation? And when companies focus on something higher and more powerful it gives their employees something to believe in and connect to and rally behind, which they have shown increases performance.
Karen: That makes sense.
Jackie: Which increases morale. And when employees are happier they have also shown that that makes clients happier; they get better customer service and they get more connected to you for something more than price and timing.
Jackie: And when all of those things happen it ultimately leads in greater profits. In fact, one of the things that Raj Sisodia said in his book Firms of Endearment was – he did 10 years of research to find out how these companies performed and he found out that companies that had a well-articulated purpose that was lived inside of their culture out-performed the S&P 500 by 9 to 1.
Karen: Well that is absolutely fabulous and isn’t it interesting that two women wrote this book, I love that; fantastic.
Jackie: Yes, indeed.
Karen: So I’d love to even talk more about that and women and how they contribute to the purpose and the bottom line just from that aspect, but we’ll ask you back to do that.
Jackie: Let’s do that.
Karen: Thank you.
Jackie: Okay, thanks.
Karen: This has been another Thought Leader Production brought to you by the PKF Texas Entrepreneur’s Playbook.