#3 - Back to Normal. Really? š¤š½ June 14
ā āGreatness is Achieved in the Agency of Othersā
Meet the New Boss, Same as the Old Boss šµ
I donāt know how it is where you are, but all around me I see people and businesses go on with their daily routines as if Covid-19 was maybe a thing of the past, just 3 months after everything started shutting down. Not me, Iāve been taking this Shelter in Place Cover your Face stuff seriously since day one, and Ima keep doing it for the foreseeable future.
That said, the more discouraging conversations on the street and on Twitter are the ideas around getting back to normal. Getting back to normal is not what I hope we collectively decide to return to after all this is over. Getting back to normal and the continuing pace of wealth and opportunity inequality pre-2020 is not the trajectory I wish us to be on. Do we really want to go back to systems, models and processes created in the 19th and 20th centuries or can we take hold of this moment for the inflection point that it is and imagine the changes needed for the new millennium?
Personally, and the reason for this newsletter, Iām hoping that this entire upheaval is more structural than cyclical and that startups are created on newer business models (along with the required changes in regulations and taxes). And, that post-2020 we give power, opportunity and wealth to the younger, more diverse generations that hopefully follow through on ideals and promises of building better worlds, better than my generations did. (I mean, what is Gen Jones or Gen X anyway?)
Philanthropreneurship
Wow, thatās a mouthful. According to Wikipedia, a philanthropreneur is āan entrepreneurial philanthropistā. Through fits and starts over the past couple of decades, it seems like the nomenclature is just another version of affluent founders looking to have increased control over their altruistic aspirations:
Philanthropreneurs are people who bring a creative or entrepreneurial approach to philanthropy. They are interested in effecting positive changes in the world and alleviating suffering, and do so in new and creative ways. Philanthropreneurs are often "driven to do good and have their profit, too"
I support the intent, am bemused at the sophomoric conjunction, but really hope the use of another term lays rest this expression. Upside: it is worth 36 Scrabble points, notwithstanding any double or triple letter or word scores.
I Come From the Land Down Under šµ
Is it my imagination or is Australia miles ahead of everyone else when it comes to Social Enterprise thinking? Hereās another email that popped into my inbox:
Dear Changemakers,
āThe Era of Purpose is upon us and there has never been a better time to start a business for good. An era where business must play a more generative and purposeful role in building a more sustainable and just future. We need smart, committed social entrepreneurs to build that future we need. COVID-19 has highlighted many of the things social enterprises have been talking about and working towards: good jobs, access to healthcare, community connectedness and local economies.The fact is, the world needs you. We need your ideas. We need your passion. We need your ingenuity, skills and unique perspective. We need you to turn those ideas into action.
StartSomeGood, an Australian based crowdfunding portal and social enterprise, is offering an online course for social entrepreneurs called GoodHustle. šš½
Evergreen 7Ps Principles
The Evergreen 7Psā¢Ā principles are the defining characteristics of Evergreen. The first three PsāPurpose, Perseverance, and People Firstādefine the character of the leaders and team. The last four PsāPrivate, Profit, Paced Growth, and Pragmatic Innovationāreflect the long-term strategy tenets of an Evergreen business.
The Purpose of an Evergreen business isĀ to make a long-term difference in the world. Success is not based upon financings, or high-valued exits, but on how well they achieve their Purpose. These values ensure Evergreen companies willĀ positively impact their employees, customers, suppliers, communities,Ā and,Ā most important, families.
Hmm. So a much better version of my own Coventure Guiding Principles? š¤.
Another Zebra Shoutout š¦
In a previous newsletter I introduced Zebras Unite and if you havenāt figured it out yet, I really, really admire and support what these folks are doing. They not only go much further and deeper than my own WeAreCO3 network, they offer alternatives to the tech startup world that I come from and currently work in:
We believe that developing alternative business models to the startup status quo has become a central moral challenge of our time. These alternative models will balance profit and purpose, champion democracy, and put a premium on sharing power and resources. Companies that create a more just and responsible society will hear, help, and heal the customers and communities they serve.
Hereās a quick recap of their history and although I shared this comparison chart previously, I hope you donāt mind my sharing it again:
Go Zebras!
Build Something Better
Hereās my weekly spotlight on a startup/organization building something better and creating the new kind of business model Iām always going on about šš½.
ToastAle is a terrific example of moving the business model beyond just a tip-of-the-hat to Social Good. Itās a circular-economy product (uses surplus bread to replace virgin barley, reducing demand for land, water, energy, and emissions), it was started as Social Good entity (now a Certified B-Corp), and it donates 100% of profits to charities fixing the broken food systems. Letās go through my Coventure Guiding Principles to see how they rank:
1 - Making it Easy for Users to Engage- their tagline is āRaise a Toast. Save the World. Cheers.ā and their website and social media posts are fun, inviting and they sell beer! I havenāt yet tasted the beers, but the testimonials are positive. So āļø
2 - Providing Radical Transparency and Making it Local -Ā on the front page of their website they showcase and update their impact by emissions saved, land reclaimed, meals donated, etc., etc., so Iāll give them a āļø
3 - Social Good is a part of the DNA -Ā ToastAle was built from scratch with Social Good in their mission and they offer One Meal for each Beer sold. The Tomās Model. So a major āļø. This is from their faqs:
Tristram Stuart (founder) saw the opportunity to create a circular economy product that could reduce food waste, engage drinkers and raise funds for charity.
4 - Integrating a Social Impact Engine -Ā this guiding principle was always meant to suggest a loyalty program that gamifies or offers network effects to users. While a Social Good Scorecard would be that sort of engine, Iām not seeing anything on ToastAleās offering that would meet this principle, at this point. So no check-mark here.
5 - Giving to Impactful Organizations -Ā according to their FAQs:
Our main charity partner is Feedback (www.feedbackglobal.org). Feedback leads a global movement against food waste, working with governments, businesses and civil society to catalyse change in social attitudes and demonstrate innovative solutions to tackle food waste and wider food industry issues. Its campaigns include: Feeding the 5000, Gleaning Network, The Pig Idea, Stop Dumping, and the FSE Network.
So another āļø
In summary, according to our ad-hoc Social Good Scorecard based on theĀ Coventure Guiding Principles, ToastAle would get an 80-90% or an A- or āļøāļøāļøāļøāļø (the extra star for being London-based and - beer).
My Scribblings
CO3 is the acronym for my virtual startup studio, Coventure Coffee & Coworking
An upcoming podcast concept is where I riff on startup ideas while attempting to integrate an authentic social good mission (like zebras)
Leading to a network of businesses (Powered by WeAreCO3), that do well by doing good, bringing about a better business model and a more sustainable and equitable economic engine
As always, the Coventure Guiding Principles are the foundation for all startups in the network
Thanks for reading this far. If any of your friends or colleagues are in the Social-Enterprise, -Venture, -Impact, or -Entrepreneurship space, your sharing this with them is totally appreciated. Cheers.