I recently watched an episode of a new television show called Shark Tank (ABC 9:00 P.M Sundays). The basic idea is for a panel of five “successful” businessmen to interview a budding entrepreneur about their new product idea and then proceed to offer financial assistance or decline, depending on the profit potential of the concept. In this particular show, one contestant, Gina, presented a product line designed to evoke happiness in people through items (umbrellas, sandals, bracelets) that were cleverly embedded with positive messages.
The product idea was inspired by a negative traumatic incident that happened to Gina late in the 1990’s. The product line that emerged from that event may have played a major role in her healing. Gina’s basic message was that people need happiness in their lives and she was going to be a “messenger” for the good and the positive. The question the panel asked was how much money has the product made thus far? When Gina answered with a nominal amount, the “sharks” unanimously agreed that there was no potential for a business here, despite the fact that everyone loved her idea. One of the members of the Shark Tank group commented that “money has no soul” and followed that comment by “I’m out.”
Gina’s tearful product development story was one of healing from a devastating experience in the past. The product line represented the vehicle for healing and provided a deep level of meaning and purpose that most probably served as a path and a purpose in Gina’s life with her long term commitment to doing something positive.
Why had the product failed in the marketplace thus far? There are a multitude of potential reasons, none of which were explored by the quick to judge panel. Their decisions were based purely on a Product as Profit paradigm of business.
Gina’s story is a clear example of Product As Purpose, where meaning, passion, purpose and a strong commitment to something higher than only money is driving the product development.
I hope that this product line and the courageous entrepreneur that is committed to making a difference in society finds the key to unlocking the success of her product and reaping the profit that will align with her passion and purpose.
PRODUCT SUCCESS TOOLBOX: Product As Purpose
- Beyond Product as Profit and Product as Path, is your product or program idea directly related to your purpose in life?
- What do you notice about this Product As Purpose type of product success that makes it really “special”?
- Can you give examples of successful products and programs that came from the paradigm of Product as Purpose?
- Do you recognize a different type of motivation and commitment to product success if a deeper purpose is part of the underlying foundation?