Myth: Great businesses start with a ‘great purpose’.
Fact: Great businesses start with a ‘big latent market’.
Example: John Kellogg. What was his ‘purpose’ for inventing corn flakes? To suppress runaway libidos and lust, which he blamed on eggs, sausages, and other protein-rich breakfasts (he believed that the world’s biggest problem is ‘self pleasuring’). In the first year the business went commercial, 1 in 500 Americans bought the stuff. Last year, 1 in 5 Americans did same. Nearly none of them have a clue why corn flakes came to be. And they really couldn’t care less. They just love the fact that it is sexier and more instant than porridge.