Profit & Purpose E-Book

Kyle Westaway

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Sprache: Englisch

Veröffentlichungsjahr: 2014

Beschreibung

Why has Warby Parker been able to make such dramatic inroads against the behemoths in the long established eyeglass market? How has Method revolutionized the soap aisle? Amid the cacophony of online retailers, why has Etsy seen such explosive growth, with 2013 annual sales north of $1 billion? 

These companies all have been disruptive because they are operating from a strong social/environmental purpose. They are proving a counterintuitive truth – purpose can drive profits. But it’s not just innovative startups that are getting in on the action. Blue chip companies such as Nike, Coca-Cola and IBM are innovating within their organization to create a positive social and environmental impact globally.

This is not a trend. It’s the future of business.
Based on in-depth interviews with founders, Profit & Purpose profiles a number of the most successful pioneers of this new way forward, telling the stories of thirteen social enterprises ranging from non-profits like Charity:Water and DonorsChoose.org, to for-profits, like Method and Burts Bees; from startups like Etsy and Warby Parker, to multinational corporations with market capitalizations in the hundreds of billions, like Coca-Cola, IBM and Nike. Kyle Westaway digs beneath the public stories of these organizations’ success to reveal how they have harness the power of purpose. 

Taking readers behind the scenes, he shows how these leading social enterprises progressed from concept to scale, how they overcame common pitfalls, and how they managed to find an optimal balance between their mission and their business mandates. Westaway reveals that though there is no magic bullet formula that guarantees success, there are seven core practices that distinguish these market leaders from the pack of contenders. They are:

•  DISCOVER THROUGH CURIOSITY // Finding the right opportunity catalyzes impact.
• DESIGN WITH HUMILTY // Prioritizing users creates killer products.
• BUILD THROUGH HUSTLE // Rallying people creates critical momentum for launch.
• FUND BY COMMITMENT // Aligning funders around a vision creates true partnerships.
• CONNECT WITH AUTHENTICITY // Authentic connection builds a movement.
• SCALE THROUGH COMMUNITY // Focusing on culture ensures smart growth.
• EVALUATE WITH HONESTY // Honest measurement ensures continual improvement.

Profit & Purpose takes the literature on social entrepreneurship an important step forward, providing the practical tools for turning good intentions into breakaway success.

Leseprobe

CONTENTS

Cover

Title Page

Copyright

Acknowledgments

Introduction

Moving Beyond Shareholder Value

Moving Beyond Giving

A Better Way Forward

Can I Really Do Well and Do Good?

How Social Enterprises are Leading the Way

What Sets These Social Enterprises Apart?

Behind the Scenes

Chapter One: Discover Through Curiosity

Identifying the Problem of Eyeglasses

Recognizing the Right Problem for You

A New Kind of Marketplace

Method to Their Madness

Inspiration at a Sleepy Roadside Stand

Innovation from Within

The Bumpy Path to Innovation

Africa's Moonshot

Key Takeaways

Chapter Two: Design with Humility

Bringing Brilliant Design to the Poor

Letting the Users Guide You

Discovering You Need to Pivot

Don't Underestimate the Challenges of Distribution

You Don't Need to be an Expert

Embracing Challenges

User Testing has Many Benefits

Knowing What to Outsource

Finding Early Adopters Takes Work

Creating Demand

Good News Travels Slow

Key Takeaways

Chapter Three: Build with Hustle

The Intuitive Hustle

The Strategic Hustle

Best Laid Plans

Beating the Burn Rate

Simple and Sincere can Work Wonders

Key Takeaways

Chapter Four: Fund Through Commitment

Promoting a New Version of Capitalism

When Profit Trumps Purpose

The Benefits of the Benefit Corporation

The True Cost of Free Money

Smart Crowdfunding

Kickstart

Follow-On Funding

Going to the Well

Embrace 2.0

Vision Capital

Not Having to Ask for Money Again

Investing in the Ecosystem

Key Takeaways

Chapter Five: Connect with Authenticity

Values Drive the Brand

Establishing the Brand Hierarchy

Give Them a Delightful Experience

Reworking One for One

Offer Delightful Experiences

Selective Partnerships

Hit the Road Jack

The Marketing Method to the Madness

Don't Talk at Your Customers, Listen to Them

Building a Community

Press Coverage Trumps Ads

Build Momentum with a Pre-Launch Campaign

Key Takeaways

Chapter Six: Scale Through Community

Making a Mission Truly Meaningful

Keeping on Top of Employee Engagement

Wild Growth

Keeping the Magic Alive

The Limits of Hustle—Tough Decisions

Selling Doesn't Necessarily Mean Selling Out

A Road-Side Startup Goes Corporate

Dumpster Diving

A More Sustainable Supply Chain

Learning from the Big Guys

Becoming More Innovative

Sticking With Strengths

The Challenges of a New Location

Your Reputation May Precede You, But You Need Community Support

Key Takeaways

Chapter Seven: Evaluate with Honesty

Baking Metrics Into Your Process

Considered Design

Throw it Over the Wall

Measuring Your Footprint

Learning to Love Data Mining

Hacking Education

The Bigger you are, the More Data You Have

Collecting Data Over Time

Key Takeaways

Conclusion

About the Website

Index

End User License Agreement

Guide

Cover

Table of Contents

Begin Reading

Chapter One

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Profit & Purpose

How Social Innovation Is Transforming Business for Good

Kyle Westaway

Cover design: Brendon Manwaring/www.brendonmanwaring.com

Copyright © 2014 by Kyle Westaway. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data:

Westaway, Kyle.

Profit & purpose: how social innovation is transforming business for good/Kyle Westaway.

1 online resource.

Includes index.

Description based on print version record and CIP data provided by publisher; resource not viewed.

ISBN 978-1-118-70855-2 (ePub) — ISBN 978-1-118-70856-9 (Adobe PDF) — ISBN 978-1-118-70861-3 (cloth) 1. Social entrepreneurship. 2. New business enterprises. I. Title.

HD60

658.4′08—dc23

2014013895

Acknowledgments

None of us create in a vacuum. We are all products of our communities. I am profoundly grateful for my community. Without them, there's no chance this book would have been written.

Mom and Dad, I've never doubted that I was loved. That has given me the freedom and audacity to dream big. But you also instilled in me a strong work ethic (scrubbing floors, mowing lawns, etc.) that equipped me with the work ethic to make those dreams to come to fruition. Katharine, you live from an uncompromising sense of justice and challenge me to do the same. Kristen and David, your interest and support in my work have been unquestioning, even when I don't follow the traditional path. Karoline, you have taught me about the importance of getting the details right. You make me better.

To my friends: Sean, Blair, Malik, Stef, Phil, and Rich. Your friendship and support has allowed me to endure through the process, and your feedback has sharpened the concepts in this book.

I am convinced that the best way to learn about social entrepreneurship is by doing it. I'm so thankful for Jess, Anthony, Sean, Annie, P' Wen, and the rest of the Biographe team. I've grown and learned so much from working alongside you. To all my clients, you inspire me, motivate me, and teach me more than you'll ever know. I consider myself incredibly blessed to be able to wake up every day and advise brilliant people dead set on creating a better world. Your lessons are all over the pages of this book.

Suzanne, thank you for believing in me and teaching me how to teach. Dean Minow and Dean Claypoole, thank you for your support of the social entrepreneurship movement at HLS. My students give me hope for the future of this movement.

To my friends in Nairobi: John, Alan, Prina, Charlene, Chrissie, Patricia, Heidi, Matt, Grant, Adam, Emma, Will, Laura, Sham, Tristan, and countless others. You made Nairobi feel like home while I was so far from home. To the team at Artcaffe, thank you for letting me sit for hours sipping coffee while I was typing away. To Elvis: thanks for allowing me to walk in Memphis every Wednesday night.

A big thanks to Brendon for creating the brand, to Emily for tirelessly working with me to edit my thoughts into something readable, to Nadia for running my life across multiple time zones, to Isaac and his team for their transcription, and to everybody at Wiley that believed this book needed to be written.

Summit Series and Catalyst friends—especially my CVO North Star—thank you for teaching me to make no small plans. To my community at TGC—especially Jon and Michael—you continue to inspire me to work together toward the renewal of all things. On earth as it is in heaven.

Introduction

Fluorescent bulbs buzzed overhead in the second-story room on a small side street in the notorious Nana red light district of Bangkok. A handful of us sat on plastic chairs around a fold-out table. A mere four feet separated us, but a gulf of life experience lay between us.

My friend Sean and I were on one side of the table. Two young professionals from New York City, we had the good fortune of growing up in middle-class American suburbs. Our parents sat down for dinner with us every night and ensured we were well equipped to succeed in life. We both had the opportunity to attend great schools and pursue the careers of our choosing.