While Angela Duckworth‘s column Graduating and Looking for Your Passion? Just Be Patient in The New York Times is aimed at graduating college students, not entrepreneurs, the following paragraph nails it when it comes to purpose, being just as germane to a business as to a career:
People are hard-wired not only to gratify their personal desires but also to care for others. So rather than ask, “What do I want to be when I grow up?” ask, “In what way do I wish the world were different? What problem can I help solve?” This puts the focus where it should be — on how you can serve other people.
See my post Why “help” is the most powerful four-letter word for more about why serving other people is the crux of any business, from Uber (helping you get where you want to go; to Google, helping you find the information you are looking for; to Facebook, helping you connect with friends and family).
While entrepreneurs need passion, purpose and a problem to solve, patience is not usually a trait associated with founders. In fact I used to tell my colleagues that “patience is not one of my many virtues.”