Why is the "Why" Part of Business Critical for Success?

As marketers often we put light on the offering or enhance the offering, the culture of the company is critical for success. The why part defines the culture of the company to a large extent. To be highly successful, one needs to have the right culture.

Also in today's digital world where people engage with a business beyond offerings. Marketing 3.0 is all about mindfulness. Today's and tomorrow's customer will like to deal with the right company than just the right products, this is beyond the CSR perception created, this is about the purpose of the company. (Read more about Marketing 3.0)

Let us consider this case studies by Simon Sinek.

How great leaders inspire action | Simon Sinek

Simon Sinek presents a simple but powerful model for how leaders inspire action, starting with a golden circle and the question "Why?"  His examples include Apple, Martin Luther King, and the Wright brothers -- and as a counterpoint Tivo, which (until a recent court victory that tripled its stock price) appeared to be struggling.

Simon Sinek discovered the Golden Circle, probably the world's simplest idea or pattern based on which all the great brands or business have created an empire of their own. This explains why some organizations or some leaders are able to inspire while others aren't.

Explanation of the Golden Circle by Simon Sinek:-

The Golde Circle as explained by Simon has three rings. The outer ring comprises of every single organization on the planet and they know WHAT they are doing. This comprises 100% of the world population. The middle circle comprises of people who know HOW they are doing what they want to. But very few actually know WHY they are doing. 

By the WHY he meant Why does your organization even exist? What is the purpose of doing such a business? What is the belief behind it? 

All the great organizations think, act and communicate inside out of this Golden Circle.

The goal of all such great organizations is not to do business with everybody who needs what you have. Their goal is to do business with people who believe what you believe.

So it is necessary that you need to attract those who believe in what you believe. It is based on The Law of Diffusion Innovation. Follow the graph below:-

Marketing 3.0 by Philip Kotler