Your personal purpose is the reason you’re on this site learning about business and investing. You’re looking for something or you want to achieve something. It could be to earn more money at your current job. It could be to be independently wealthy so you can quit your job. It could be to raise money so you can help other people. Whatever your personal purpose is, it belongs to you and only you. It’s what drives you.
Your personal purpose is distinct from the business purpose. If you’re starting a new business, find your personal purpose first, then find the business purpose for the business you’re starting.
If you don’t know your personal purpose, or even if you think you do, try this exercise called the seven reasons to uncover it. To do the exercise, start by asking yourself why you need more money. Then, ask yourself “Why?” seven more times or until you run out of underlying reasons. Your personal purpose is the final one. All the other ones in between are also yours and you should hold on to all of them.
Some examples of a personal purpose:
“To make the world a better place”
“To fund my travels all over the world”
“To help me achieve the lifestyle I want”
“To become wealthy and support my family”
“To help other people”
“To save the planet”
“To become rich and famous”
“To care for animals”
Compass
Once you know your personal purpose, learn about steps to start a new business.