How the Golden Circle Method Is a Key First Step to Your Intrapreneurial Success
Companies that are universally accepted as unique and successful don't start by identifying the "what" they do aspect of their business. Instead, they work inside-out and start with the why then move on to the how and what. That is why the Golden Circle method comes up in way more discussions surrounding marketing than the silver triangle or bronze trapezoid methods. Actually, it's because we just made those last two up, they just sound silly.
The Simon Sinek Golden Circle prioritizes the meaning behind your mission rather than the mission itself. So let's explore how that concept can incentivize intrapreneurship while simultaneously strengthening your company's relationship with its target market.
Elements of the Simon Sinek Golden Circle Method
In the modern era, consumers and investors are partial to companies whose values align with their own. Numbers don’t lie, so we’ll let some statistics do the talking. Studies show that a whopping 67% of investors planned to buy more shares of companies that adhere to environmental, social, and governance (ESG) standards. That statistic is bumped to 71% in regards to consumer value alignment. Keep that in mind as you navigate through the three components that make up the Golden Circle Method.
According to Simon Sinek, “People don’t buy what you do—they buy why you do it.” Often, people pitch their product or service before circling back to the problem that created their solution. The Golden Circle method reverses this communication style. There’s no secret formula involved here, just the simple acknowledgment that people connect with motivation.
Example: Innovation is the future, and we believe everyone should have the opportunity to participate. Innovation is necessary to stay competitive in a constantly changing market. It requires cultural shifts and employee motivation which is why we focus on intrapreneurship as the foundation of corporate innovation.
The “why” establishes the reason your company felt compelled to create a solution. Now, a distinction must be made between why you’ve done it and how you’ve done it. The “how” should clearly describe how your solution addresses the problem it was created to overcome. Rather than outlining its features, think of the bigger picture.
Example: rready facilitates innovation culture by addressing every issue that keeps it from thriving—like the lack of employee engagement (which is a major starting point in fostering innovation).
In the Golden Circle Method, the specifics of your products and services come last. Before discussing your offerings, you must incentivize your audience to listen. Many people view a purchase or a partnership as a risk. The question on every consumer's mind is, “Will this solution be as effective as it claims to be?” No matter how revolutionary your solution may be, it will fall short without a foundation of trust to support it.
Example: rready’s KICKBOX was designed to be a comprehensive intrapreneurship solution. First, it contains a roadmap to guide employees through the innovation process (from idea validation to validation to prototype creation!) Then, it incentivizes intrapreneurship by addressing company culture. Finally, it provides a platform that facilitates idea implementation through gamification, coaching, budget management, and the involvement of experts within and outside of the organization.
Is the Golden Circle Method Effective?
The Simon Sinek Golden Circle is as effective as you make it. Instead of using it solely as a marketing tool, consider applying its core values to your company as a whole. Three key aspects drive intrapreneurship, and you can apply the Golden Circle method to each one:
- Employee engagement - When your employees feel motivated, your business will thrive, this is a no-brainer. Intrapreneurship is built upon the idea of tapping into your company’s collective knowledge.
- Approachable innovation processes - Suppose you’ve successfully created an innovation culture, and employees have begun to share their ideas. In that case, they must receive the proper guidance to move their ideas forward in the innovation pipeline.
- Supportive technology - The days when post-it notes and calendars would cut it are over. Innovation management requires a toolkit that can track your progress and offer insights into your intrapreneurial practices.
How to Apply the Golden Circle to Your Business
So far, we’ve established two things. As long as you didn’t fall asleep somewhere along the way, you should have a firm grasp on both. No shame if you did fall asleep, by the way. The fact that afternoon naps became unacceptable after Pre-K is an injustice to us all. So, those two things include:
- The three elements of the Golden Circle Method.
- The three components that drive intrapreneurship.
Now let’s establish the connection innovation managers need to make between the two. Without the authenticity the Golden Circle method embraces, you can’t reach your customers or your employees on an emotional level. Accordingly, you must establish your “why” long before marketing begins. It should be infused into every business process to avoid losing sight of the common goal you all share.
Establishing relatability is as integral to intrapreneurship as it is to marketing. If you can’t convince your employees to feel motivated by your mission statement, how on earth do you expect to convince your target market? At its core, the Golden Circle method aims to appeal to emotion by revealing the driving force behind your product or service. For this reason, making up a story to appeal to your customers won’t cut it. As a wise man once said, don’t talk about it, be about it.
Implementing Golden Circle Principles With rready
Psssst—the examples we used to demonstrate the Golden Circle Method weren’t just examples. rready’s mission, processes, and products, as outlined above, are all real. Clever, huh? We recognize the value of the Simon Sinek Golden Circle, but we also realize intrapreneurial success takes more than methodology alone.
Want to tackle intrapreneurship and strengthen your marketing campaign before it even starts?