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Archive for social responsibility

What’s Your Impact

Does Your Business go Beyond Your Customers and Clients to Make a Bigger Social Impact?

Business is by far the best way to build your wealth and freedom.  But does your business go beyond you and your family and reach out into the community?  Are you making a difference in the world? Is it important to you to make a social impact?

When you add that social impact to your business — it feels good.  The real impact goes beyond that good feeling though. It can actually impact your business results because your clients and customers LIKE to feel good too.  When doing business with you helps them to make an impact — then they feel good and want to do more business with YOU.

So, what can that social impact look like?

There are several models that can work for any type of business. Let’s look at a few.

The Direct Donation Model:
Choose a charity that you are passionate about and make regular donations — a percentage of each purchase or a percentage of profits. Another way to provide a direct donation could be to directly donate your product or service.

Buy One/Give One Model:
You can choose to donate an item like the item that was purchased.  Similar to Tom’s shoes. With each shoe purchase, Tom’s donates a pair of shoes to someone that needs shoes.

Service Model:
You can choose to donate your personal services to people that need your service or to a charitable organization such as the United Way or Red Cross.

Partnership Model:
You can choose to partner with a charitable organization, providing an array of supports to the organization.

I am sure that there are many other innovative ways to make a social impact.  What models have you used in your business?

I have found that creating a model for your business that is in alignment with your mission and values feels best.  Here at Compass Rose Consulting — we work with entrepreneurs and non-profits, with a focus on women in business and women focused non-profits.  Our model of impact is multi-dimensional.  Here are the ways that I give:

Service — I serve on two boards — one non profit and one networking organization. Through the networking organization, I work to raise funds for a domestic violence shelter.

CRC Service Donation — I donate strategic planning to a non-profit board each year.

Monetary Donation to Support Women Entrepreneurs — I donate money to support women entrepreneurs — a percentage of registration fees or coaching fees are donated through other organizations that work with women worldwide to support women.
Marketing Your Impact –
The other benefit of your social impact is sharing it with your customers and prospects.  Customer’s want to do business with socially conscious businesses, environmentally conscious businesses.  Sharing how you achieve this helps them in their decision making.  This needs to be done with care!  Images of course are essential. When you have supported an organization you can ask to use their logo or image from them.  Be sure that you do this with class.

Some businesses will include information on their packaging about their earth friendly practices, or inside of your cereal box.  Get creative!  It can be fun!

How can you add information to your marketing about your social impact?  What type of marketing feels right and in alignment with your business?

Are there other ways that you can increase your impact that benefits your business and your community? Creating win-win solutions is key.

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.

Socially Responsible Business

Being a Socially Responsible Business is becoming more and more important.

Neilson recently talked about the impact of being a socially responsible business or company, and doing good beyond your products or services and the impact that has on your bottomline.

socially responsible business

Your Business Operations Can Impact Your Results

How do you change your business so that you are operating in a socially responsible way?

Consumers have said and have demonstrated that they will pay more for products that are Fair Trade, Organic, Socially Responsible in their production.

Your organizational values are one thing, but it is more about living those values publicly that is on the line.  People are observing HOW companies practice their values.  When companies take a stand that can have a direct impact on that bottom line, both positive and negative.

In the recent Neilson article, their observation is that social responsibility has moved beyond environmental issues to being a good corporate citizen.  This is critical.  It may be that while the new administration eases regulations, that people will demand they be observed anyway.  People do not want coal companies dumping waste into their water.  People do not want BIG banks investing in a pipeline that potentially can pollute waters.  People are making their voices heard through social media and through the effective use of hashtags on social media.

What is a Socially Responsible Business?

According to Investopedia.com:

Social responsibility is the idea that businesses should balance profit-making activities with activities that benefit society; it involves developing businesses with a positive relationship to the society in which they operate. The International Organization for Standardization (ISO), emphasizes that the relationship to the society and environment in which businesses operate is “a critical factor in their ability to continue to operate effectively. It is also increasingly being used as a measure of their overall performance.”

How does this impact your small business?

This can have a tremendous affect both positive and negative on your business.  If your company is reaching out to the community and doing good in the community, people notice.  If at the same time, your company is polluting and dumping toxic waste, that is going to override all the “good” that the company is trying to do.  The two are out of alignment with each other.  You need to operate in alignment with your company values and those need to be in alignment with the good of the community and the world.

  1. Look at your company values and see if there are ways that you are out of alignment.  Values are typically an ideal that we strive for and that we do not always achieve successfully all the time. But now, it is time to do a check –> a values alignment check.
  2. Decide on a plan to improve your alignment and take it a step further.
  3. Can your company join thousands of others in a movement of social responsibility?  What would that look like for your company?  There are probably some quick things that you can do right away:
    1. Look at your operations — how can they be more sustainable, earth friendly — can you increase recycling programs, eliminate the use of styrofoam cups, eliminate the use of disposable cups for coffee, buy bio degradable disposables for your cafeteria, use recycled paper, decrease printing and use more digital….Join Green America and become a certified Green Business.
    2. Look at your banking — can you switch from a BIG bank to a credit union or community bank?
    3. Look at your employees — are you paying a fair wage, can you improve your workplace, what are your employees passionate about?
    4. Look at your business model — is there a way to incorporate your social causes into your business model?  Can you give one for one? Or can you set up a donation model? Can your customers participate in that model?  Choose a place for a portion of profits to be given?  Is there an organization that fits with your company mission?

    There are so many ways to change how your company operates and make more of a difference in your community and the world.

    Here are a couple of examples —

    There was the story of Rosa’s Pizza in Philadelphia that was giving away free slices of pizza to the homeless.  That story shared on Upworthy in 2015 had such an impact on people that it was shared over 800,000 times and increased their business and their giveaway tremendously.

    Recently, on CBS Sunday Morning — they shared a different business model in which a local brew pub opened as a non-profit and donates money from each brew served to one of six rotating charities. Customers get to choose which charity they are supporting with their purchase.

    And there are movements to change how companies operate.  Chocolate — largely harvested in African with child slave labor — women around the country have been campaigning for big chocolate companies to stop buying chocolate that is not Fair Trade, and they are having an impact.

    Much of the work that I have been doing over the past weeks has been to raise our social consciousness at Compass Rose Consulting and identify ways that we can improve operations as outlined above and make more of an impact on the community and the world.

    These changes while still very much under construction are improvements to a foundation that already existed and is being improved and revised as the year moves ahead.  I am adding resources for you that you can access — about operating in more socially responsible ways.

    We will be adding to these and sharing more each week on how to achieve these types of goals!

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.