Your business can do more than simply provide your product or service to your customers. You can do good in the world, you can add a social component. There are several ways to do that in a way that allows you to do well at the same time.
Percentage of sales
You can give a percentage of sales to a cause of your choosing. It makes sense if the cause has a tie in with your business. For instance, a veterinarian clinic giving to a local pet shelter.
Of all the ways to bring social good to your business, this is my least favourite. If you want to give to a cause, you should do it. This feels like you are adding a premium to your price so you can give to your choice of cause.
Supply Chain
Businesses that source sustainable and fair trade products help support the environment and other communities. Fair trade coffee, tea and chocolate are example. Sustainably caught sea food or grass fed meat or buying directly from small farms help support environmentally conscious food production practices.
Look for manufacturers who treat their workers well and have a clean environmental track record.
These kinds of decisions are supported by many customers who are willing to pay more, if they know their money is going to make the world better.
Buy One Give One
Tom’s shoes is the example many people think of. Everyone who buys Tom’s shoes buys 2 pairs, one for themselves and one to give away.
I love this model and I got a pair of Tom’s shoes in 2009. The Business Owners Success club online community has a buy one give one policy as a way to support entrepreneurs around the world and to increase the diversity of the membership.
Conscious Hiring Practices
Many people within marginalized communities could use the support of a job. I’ve done this to great success in a number of my businesses. You can have a huge impact on people’s lives by giving opportunity to people who need it most.
The most effective team journeys include ways for your team to leave your business better and happier. This encourages them to become advocates and cheerleaders for your business.
Cradle to Grave Considerations
Think through all the impacts your business has a make conscious choices to do the right thing. this includes everything from packaging (or not) to your office footprint, to transportation to the lives of everyone your business touches.
You get to choose what your business will be.
How can you bake in a social good component?