Mission Oriented

Tony Fadell, one of the creators of the iPhone always said that you shouldn't be a "geek chasing technology". As I entered my 30s, I realized that time is the only currency that I have. And I want to work on something that will make a mark in the history books. Instead of creating simply a product, I want to create something that will change the world (or at least has a shot). One thing that always shocked me is how many cars were parked outside of SpaceX's headquarters. It's a company that's been around for 20 years but you hardly see startups that have this sort of work ethic. I thought to myself that these SpaceX employees could only be here on a random weekend night working late hours because they believed in the mission. After all, we know that SpaceX doesn't pay like Google or Facebook, but the mission and the work seems to be the most important part of why they work tirelessly.

Mission-driven startups have a unique advantage when it comes to recruiting talent. People are often inspired by the opportunity to work on projects that have the potential to make a significant impact on society. Talented individuals are more likely to join a company with a clear and compelling mission, even if it means taking a lower salary compared to larger corporations. This is particularly true for millennials and younger generations who prioritize purpose over paychecks.

When employees believe in the mission of the company, they are more motivated and engaged in their work. Research has shown that engaged employees are significantly more productive than those who are not. They are also more likely to stay with the company long-term, reducing turnover and associated costs. A strong mission can create a sense of camaraderie and shared purpose among the team, driving them to give their best efforts.

Consumers are more inclined to support companies that align with their values. A clear mission can differentiate a startup from its competitors and build a loyal customer base. People want to feel good about the products and services they use, and knowing that a company is working towards a meaningful goal can enhance their brand loyalty

A mission-driven approach can provide stability and direction during challenging times. When the company’s purpose is deeply ingrained in its culture, employees are more likely to stay committed and work through difficulties. This resilience can be a significant asset, helping the company navigate through tough periods without losing sight of its long-term goals. It certainly doesn't mean that the company won't fail or layoff employees, but it certainly should mean that people will work regardless of ebbs and flows to the company performance.