Building a purpose-driven company is important, but aligning that purpose with your business goals is the real secret to lasting legacy and success. Today, Amit Garg joins A.J. to discuss the importance of having a plan, a sense of purpose, and a clear mission for your business. He shares his first-hand tips for raising funds as a startup, choosing VC investors, and why picking someone who aligns with your values and goals is crucial.
About Amit Garg:
Amit Garg is an entrepreneur and a venture capitalist. He’s the Co-Founder and Managing Partner at TAU Ventures, an AI-first, seed-first VC fund in the heart of Silicon Valley. Amit has built a remarkable career as a tech professional spanning over 20 years in none other than the heart of innovation, Silicon Valley. As a VC, he has a keen eye on promising startups and specializes in seed-stage applied AI investments in Digital Health, Automation, and Enterprise.
Amit has also made a significant impact through philanthropy, merging his purpose with his business goals. He and his team successfully raised funds through crowdfunding to establish essential facilities in rural India. One of them is a self-sustainable hospital, Hospital for Hope, which provides healthcare in a neglected part of the country and serves a community of 100,000 people.
Why align your business goals with purpose
Customers of today are more socially aware and conscious than ever. They now have all the necessary tools to make well-informed purchasing decisions, so there’s no room for outdated sales tricks and old-school techniques anymore. This shift in consumer behavior has elevated the buyers’ criteria to a whole new level. For that reason, being purpose-driven has become undeniably crucial, as people in this landscape are essentially drawn to companies that stand for something bigger than just profit.
However, purpose alone is not enough. It also takes aligning your business goals with your purpose to build long-lasting success. This alignment provides your business with the necessary direction, focus, and clarity. In addition, it steers strategic direction, guides decision-making, and fosters a culture focused on both profitability and impact. More than that, aligning your business goals and purpose is what motivates your team, resonates with your audiences, and ultimately distinguishes you on the market.
Episode highlights:
- Aligning your business goals and purpose is crucial, especially in the planning stage, where it serves as a strong foundation for your venture. From there, you can use it as a roadmap for deciding on the type of financing model, attracting the right investors, and developing authentic relationships with your clients. In the long run, this alignment fortifies your venture’s position, driving consistent growth and long-lasting connections. (06:13)
- When you’re creating value and nurturing a purpose beyond pure profit, success becomes the only option. Products and services that genuinely add value to people’s lives inevitably lead to financial gain. More importantly, they make a difference in the world, which is the ultimate measure of success. (13:14)
- Mistakes are a natural part of life. Without them, success wouldn’t be nearly as meaningful. But when these tough moments happen, staying focused on your business goals and purpose matters most. This will help you keep your eyes on the prize, ultimately overcoming any obstacles that come your way and achieving what you’ve planned for from the start. (16:37)
- Creating high-quality, valuable content for your audience is fundamental. It fosters customer trust and loyalty, strengthens your company’s reputation, and establishes your brand as a thought leader. Most importantly, this act of giving back to the community through knowledge sharing, education, and empowerment is never without reciprocity. Essentially, the more value you create, the more you receive in return. (29:14)
- Success in business goes beyond mere profits. In fact, different factors define a successful business, from brand reputation to employee satisfaction. That said, one less-talked-about indicator of a company’s success is meaningful legacy. To build this long-term impact, aligning business goals with purpose is vital, which will result in positive change in society, not just financial gain for your company. (33:30)
Amit’s best advice for entrepreneurs:
“I’ve always believed that when you create value, you get valuations. It’s not the other way around. If you’re doing something meaningful, then you will figure out a way to also make money out of it. And I’ve been able to align this in my life.” (13:16)
