The Business of Social Purpose

In the emerging world of social-purpose business we are hearing powerful voices with thought-provoking words to share. Last week we heard some of those voices through interviews and presentations made as part of a Social Innovation and Social Finance tour held in B.C. We would like to offer the following reflections on some of what we heard.

I.  Customers might not flock to you because of your social purpose

Janice Abbott, CEO of Atira Property Management, says she was surprised when she started the business to find that customers did not flock to her business because of its social purpose. While this might not be the case for all social-purpose businesses, that it was so for Atira certainly suggests others will have similar experiences. If your business is to be social purpose that purpose really does have to be deeply held. It could be tough; to be working hard to make a difference and be one of a small few who are actually moved by the mission. It could get lonely. Satisfaction has to be taken from an internal set of standards and from seeing the change you set out to create. To work in such a way is to act on a sense of creative responsibility.

II. A new paradigm is emerging

Stuart Yasgur, managing director of Ashoka says there is a new paradigm emerging. Read More