Growth Club insights: what is your why?

Whilst it may have become more challenging than ever to run a business, the opportunities for growth still exist for owners prepared to embrace uncertainty, be bold and innovative, and invest for the future.

That's why we've launched the Allica Bank Growth Club with our partners at MooreMentum. Together, we will provide established business owners with tailored solutions to maximise growth and achieve their goals, whether that be improving efficiency, dealing with succession or expanding into new markets.

We're so excited for the first session in May which will be focused on understanding growth built on purpose.

Knowing your 'why' matters more than ever for a growing business

Running a business is full on. With people to hire, targets to hit and big decisions to make, growth can often feel like sprinting whilst building the track at the same time.  

But one thing many growing businesses overlook is knowing your purpose, or your 'why', which can be one of your most valuable tools. It can help you to stay focused, build a stronger team, and create more meaningful relationships with your customers.  

In one of the most watched TED Talks of all time, leadership expert Simon Sinek explains how successful businesses don’t start with what they sell. They start with why they exist. It’s a simple but powerful idea that can drive your business' success.  

What's your 'why'?

 Sinek's model called The Golden Circle, breaks it down into three parts: 

Why – Your purpose. The belief or mission that drives everything you do. 

How – The values or approach that sets you apart.

What – The products or services you offer.  

Most businesses talk about what they do. But the most trusted and influential businesses start with why. That's what inspires people to buy from them, work for them, and believe in them. 

Why it matters for growing businesses 

As your business grows, it's easy to get caught up in day-to-day delivery and targets. But anchoring your growth in purpose can help you: 

People want more than just a payslip - they want to feel like their work means something. A clear purpose gives your team something to believe in and to rally behind.  

2. Stand out in a crowded market 

Products can be replicated. Purpose can't. Your 'why' becomes a unique point of difference - something that can’t be copied, even in a competitive market.  

3. Stay focused when things get complex 

Having a strong purpose helps you stay focused and make decisions that align with your long-term goals. Whether you're expanding your team, launching new services, or exploring new markets.  

A quick example

Let’s say you run a successful local bakery that's expanding into wholesale. Your what is clear: you bake great bread. Your how is using traditional methods and locally sourced ingredients. 

But your why? It might be: "We believe in bringing people together through great food, made properly."

That’s what turns your business from just another bakery into something people believe in. It's simple. It's human. And in a world where we're all just looking for a way to connect, it gives customers a reason to support you, and your team a reason to be proud of what they’re building. 

Bringing it back to your business – find your 'why' 

Finding your 'why' doesn’t have to mean rewriting your business plan. Start by asking yourself a few simple questions: 

• Why did you start the business in the first place? 
• What change are you trying to make for your customers or your industry? 
• What are you most proud of so far? 

It's worth writing this down and sharing it with your team. You'll be surprised how often it helps in day-to-day decisions, from who you hire, to how you pitch to clients.  

Growth built on purpose  

At Allica, we work with growing businesses every day. We've seen how purpose-driven businesses who know their 'why' build better culture, stronger customer relationships, and more confident decision-making.

Growth is important, but growth built on a strong foundation is what leads to long-term success. 

So, if you haven’t already, take a moment to ask: what's your 'why'? 

If you're based in London or the South East and would be interested in joining the next cohort of the Growth Club, please reach out to your dedicated relationship manager.