It’s a simple question many entrepreneurs are asking themselves.
Increasingly, entrepreneurs are pushing beyond purely
self-interest-driven business to focus on ways in which they can
leverage influence and expertise to impact social change—whether it’s a
national video contest or a local blood drive.
In an ideal world, genuine passion is the key call-to-action. Beyond
your personal connection to a cause, there are many business benefits.
The primary business benefit of a social mission is to engender
goodwill amongst core segments, though there are many secondary
benefits. Elevating your brand image, rallying your team and building
relationships with like-minded entrepreneurs are key secondary benefits
of launching a social initiative.
Primary Business Benefits
The primary benefit of a social mission is all about authenticity. If
your primary ambition of launching a social initiative is to bolster
your brand image, your head and heart might not be in the game—instead
centered on self-interest pursuits. It is about making a sustainable
impact for core constituencies; it’s about uplifting public welfare;
it’s about leveraging influence and talents to be an influential
advocate for those with little to no representation.
Authenticity wins the hearts of your consumers. Consider VoxPop–a cafe
and bookstore in Brooklyn, NY that promotes social awareness. Recently,
VoxPop was on the verge of financial collapse when the CEO, Debi Ryan
hosted two town hall meetings to pitch an investment deal to the
community. Now, the cafe and bookstore has 144 new investors. VoxPop
was able to live another day due to their genuine compassion for
community members–who reciprocated the feeling to truly make VoxPop a
community-driven businesss. Their authenticity won the hearts and
consequently, pocketbooks of the local patrons.
“If [your social mission is] manipulative and just to drive sales, the
public will see through it in a minute,” said Shelly Lazarus, Chairman
of Ogilvy & Mather Worldwide said to on | Philanthropy. Your social
mission should not be a catalyst to make an impact on profits—it should
be to make an impact beyond your profits.
Secondary Business Benefits