The Heart of Business summary

One of Joly’s first acts as CEO was leading Best Buy to re-examine its reason for existing. What role could the company play in society beyond making money? After much reflection, it arrived at “enriching lives through technology.”

Joly restructured the organization to align with this vision. Each store was empowered to understand and serve its local community's needs. Leaders modeled the purpose by visiting stores to solicit feedback. This inspirational purpose began to provide deeper meaning to employees' daily work and Joly upgraded training and compensation to show that employees mattered.

In short, pursuing a noble purpose wasn’t just a motto to Joly. It guided decisions and reminded staff that their work had real meaning. When people feel connected to a company's higher purpose, he found, they bring renewed passion.

Before Joly, Best Buy had become known for high-pressure sales tactics and indifferent employees just looking to hit sales targets. Customer service wasn’t a priority. Employees pushed expensive accessories and services with little regard for customers' actual needs. Their goal was to maximize the amount each customer spent.

Joly's renewed focus on purpose changed that mentality. He emphasized that Best Buy could only enrich lives by first understanding customer needs. Employees were trained to listen, build relationships, and provide solutions tailored to each customer. Rather than upselling, employees aimed to match customers with the right products and services the first time. 

By focusing on purpose over sales targets, Best Buy transformed its stores from transactional to consultative and relationship-based. Customers returned because they appreciated associates who took the time to listen and provide expertise beyond just selling.