The number of B Corp companies has reached an all-time high, and mission-driven culture is now a staple topic in the startup world, almost to the point of being cliché. Despite facing political resistance and challenging economic conditions, the global market for environmental, social, and governance (ESG) initiatives is expected to surpass $40 billion—accounting for over a quarter of all assets—by 2030. However, leading with a purpose that goes beyond just profit-and-loss is still a complex challenge for founders, according to John Blakey, an executive coach and author with over two decades of experience advising entrepreneurs, CEOs, professional sports teams, and Olympic gold
“Many leaders are focused on deciding whether to embrace a purpose-driven approach,” says Blakey, author of the recently published book Force for Good: How to Thrive as a Purpose-Driven Leader. “They often underestimate how challenging things become once that decision is made.”
He explains, “Once you or your brand positions itself on a moral high ground, you become a target for both ethical and unethical scrutiny.”
However, this shouldn’t discourage founders. They simply need guidance, and Blakey has shared some of his coaching insights with Inc. Here’s his advice for entrepreneurs aiming to enhance their purpose-driven leadership and inspire their teams:
Think strategically, not tactically.
In recent years, founders have faced challenges such as inflation, higher borrowing costs, and ongoing recession fears. Blakey anticipates another “disruptive decade,” but emphasizes that navigating these difficulties doesn’t mean abandoning your company’s mission. For entrepreneurs feeling the pressure to achieve short-term revenue and profitability, Blakey advises a strategic rather than tactical approach. Instead of focusing solely on immediate survival, he suggests taking a broader view that extends beyond the next few quarters.
“You can use tactical approaches over 12 months to capitalize on the current economic climate,” Blakey notes. “However, if you lead strategically, you’re laying the groundwork for the next five to ten years.”
Find your third team.
In Force for Good, Blakey highlights the significance of community and encourages business leaders to be deliberate in finding their “third team”—a support network outside the office, family, and friends. Founders need an additional source of camaraderie, support, and guidance, but Blakey stresses that this doesn’t have to be a group of fellow founders or CEOs within your industry. Your third team could be individuals you play pick-up basketball with or members of your religious group. The quality of relationships is more important than any specific expertise.
“It begins with identifying your passions,” he says. “If you look around, you’ll likely find a third team ready and waiting.” He adds, “Invest time and energy into building that community.”
Maintain motivation.
Blakey, who has worked with Premier League soccer teams like Arsenal, Tottenham Hotspur, and West Ham United, as well as Olympic coaches in sports such as rowing, diving, and shooting, emphasizes the importance of motivation. He highlights that while fans admire the glamour of events like the Paris Olympics or the World Cup, they often overlook the years of rigorous training and sacrifices behind those achievements.
Athletes adhere to strict schedules and make significant personal sacrifices, leading lives that might seem mundane but are crucial for maintaining focus and motivation. Blakey points out that business leaders, unlike athletes, may not be accustomed to such disciplined routines and might assume things will fall into place on their own.
“As business leaders, we’re not always accustomed to working with such a high level of discipline. We often assume things will resolve on their own,” he says. “In the world of sports, however, they don’t leave anything to chance. They understand the crucial role of motivation.”
Rekindle your joy.
One frequent issue Blakey observes among founders and CEOs is the loss of their sense of joy.
“They remain committed and continue doing what needs to be done, but the spark in their eyes often fades,” Blakey explains. “Leaders may believe they can conceal this, but it typically becomes apparent to others.”
He adds, “Restoring the joy in their work, role, and purpose is crucial for leaders. If their own enthusiasm dims, it won’t be long before it affects the rest of their team as well.”
Know your moonshot.
Founders understand the value of setting goals, and Blakey encourages his clients to define an ambitious “moonshot” goal. He advises them to focus on the inspiring aspect of this long-term vision rather than getting bogged down by the specifics of how to achieve it.
“Setting distant goals is incredibly empowering,” Blakey notes, likening the impact of a moonshot to the power of compound interest. The excitement and enthusiasm generated by such ambitious goals fuel additional motivation and passion. Over time, this cumulative effect becomes significant. “People often overestimate what they can accomplish in a year but underestimate what they can achieve in ten years,” he adds.
Give up on a good day.
Entrepreneurs should always plan for an exit strategy, even if they are driven by purpose. Eventually, every leader reaches a point where their job is complete.
“One of the toughest challenges for founders is knowing when to step away,” Blakey observes. “In my experience, very few leaders have the clarity to recognize that precise moment.”
Founders who stay too long may lose their enthusiasm and sharpness, which can negatively affect their performance and the health of their companies. Blakey advises his clients to “step away on a high note.”