Sharon Price John

Do you know your organization's true purpose?

Many people say it's shareholder value, the products you make or the services you provide, but it's much, much more than that.

It's like, what really makes your companies heartbeat?

Well, in today's complex world, shouldn't we all be thinking about that?

I know I had to when I became the CEO of Build-A-Bear Workshop.

Back in 2013, I was asked to take the helm of this mall-based, make-your-own-stuffed-animal retail company for kids from the beloved founder.

2012 had been the worst year in the company's history, having lost $50 million, and 20 percent of the stores were not turning a profit.

The team had struggled for eight years in the wake of the recession, mall traffic declines, the rise of the digital economy.

Well, bankruptcy was a real threat.

So shortly after I got there, I brought the whole organization together.

to share my textbook turnaround plans that, of course, included cost cutting, store closures and maybe some layoffs.

But I was met with skeptical stares and silence.

Wow, don't they get it?

I mean, the world had changed a lot since 1997 when Build-A-Bear was started, but it was almost like they were afraid to change.

But why?

Frustrated, I turned to the crowd and I said, does it matter if Build-A-Bear exists?

Now, before you answer that question, you might need to know just a little bit more.

Build-A-Bear was a pioneer in experiential retail.

So when you go to a store, you go through a process.

Now, that process includes, first, picking out an unstuffed furry friend, but then, with the help of a bear builder, you're able to go through a personalized stuffing experience.