Startups with a social mission are becoming more common these days, and all indications suggest that the trend will continue.
The last decade has seen an increase in companies that place a social cause at the center of their identity, with some evolving into mainstream businesses such as Warby Parker and Toms.
Many entrepreneurs feel the cause has become a critical ingredient:
“Nowadays, people expect it,” said Kevin Tighe II, founder and chief executive of Coastal Co., which sells surf apparel and donates a portion of sales to clean up beaches. “If you’re not participating in a way to give back, it’s almost frowned upon.”
Not your father’s philanthropy
Charitable giving has long been an aspect of corporate public relations, often dictated from the C-level down. But there was always a strong separation from the products and services sold.
The current trend is a much more integrated and authentic approach. In fact, if prospects sense that you’re only “doing good” as a marketing tactic, it can backfire.
Bake in a cause that you truly believe in and be as transparent as possible, though, and you can really connect with your people. The starting point is figuring out how you can truly be of service, both with what you sell and your cause.
Dream with purpose
Starting a business remains the dream of many — two-thirds (66%) of U.S. citizens hope to open a small business according to the Inside Small Business Survey.
Combine that with the sense of purpose that we seek at midlife, and social entrepreneurism may be just the ticket. You can truly do well in the broadest sense by doing good.
I’ve always thought that if I turned Further into a business, it would have a charitable component. I’m thinking about that a lot more these days.
When the Social Mission Comes Before Making a Buck (New York Times)
