Making A Profit While Making A Difference
The question has been asked, “Is your business making the world better?”
For those of you who follow me, you know how meaningful the concept of legacy is to me. It’s a central theme or driving force as to how or why I do all that I do.
“Each of us has the opportunity to live life in such a manner that we ignite the passion and power within ourselves and others to live as if our life is on fire! The result will be a powerful brand that is seared into the hearts and minds of humanity for all eternity.” iLegacyBuilder.com
“For a brand to stand out it has to stand for something.” I agree!
This is why my recent read of the book “Cause! : A Business Strategy For Standing Out In A Sea Of Sameness” so resonated with me. What makes the read even better is that it happens to highlight one of the companies that I actively advocate that promotes a cause and offers a solution to make the lives of others better and ultimately the world!
Ours is a very special profession. People look to us to help them prepare for an unknown future. Whether it is economic challenges or life unexpected, we provide solutions that offer assurance for a better tomorrow. – Mehran A.
However, that’s not my primary reason for writing this article. The main premise is:
“There is a cause and effect relationship between a firm’s ability to serve a higher cause, to do good, and its financial performance.” – Cause!
Here are 3 reasons why people emotionally connect to companies with a cause and why companies with a compelling cause to change the world are in fact making a profit!
- People “Opt-In” versus “Buy-In” to the Vision
There’s a difference. Tremendous energy is expended at a company’s expense to build buy- in. There is a ‘sell’ or a component of persuasion that’s involved to bring someone on board. When a person chooses to opt-in, they see the vision, and believe in the cause, it speaks to them and they readily hand over what’s needed to join the cause. It’s personal, even meaningful and they ‘want in’ and they are going to stay around; whether as a customer or committed employee.
- Servant Leadership
Companies that clearly grasp the importance of intentional servant leadership are appealing to their customers and yes, their committed employees. Companies with a strong moral compass and an authentic passion and concern for people relations experience an onslaught of inspired people who want to work for and partner with them as suppliers, customers, and advocates.
- Innate Desire to Make a Difference
People want their lives to matter; you want what you do each day to have more meaning. Purpose driven, mission driven; a sense of calling fulfilled. Otherwise, what’s the point? I believe the preference is for people to look back on their work and know that they’ve made a difference, one that’s impactful and long lasting on behalf of humanity. When a company seeks to do the same, that’s how their business can make a difference in the world and make a profit!
Companies that attract those who ‘opt-in’, intentionally practice servant leadership, and have a desire to make a difference in the world are:
Companies with a compelling cause and strong corporate culture are:
- 83% more likely to embrace diversity and different options
- 80% more likely to encourage employees to innovate
- 79% more likely to encourage people to develop new business growth opportunities
- 74% more likely to provide tools for employees to reach their full potential
- 73% more likely to have leaders who seek out the opinions/ideas of others
-The Deloitte Core Beliefs & Culture survey
“If you work for a cause bigger than yourself you will work harder and smarter.”
This is how people are responding to working for and advocating a compelling cause:
All other things being equal, I would take a 15% pay cut…
- 83% … for a job that makes a social or environmental impact
- 88% … to work for an organization with values like my own
- 71% … to work for a company committed to CSR (Corporate Social Responsibility)
– The Talent Report, by Net Impact
“When your company offers something that’s more purposeful than just a job with a paycheck, you win” at making a profit while making a difference.
Consider this: Is your business or brand aligned with a compelling cause that’s making the world better?
🙂 Live Your Legacy!
Rita Stewart, Legacy Builder
What are your thoughts on the benefits of working for and the outcomes of a company with a compelling cause? Share a company that comes to mind?
PS: Learn more here about the compelling cause and savvy solutions that my brand Legacy Financial Wellness advocates to make the lives of others better and ultimately the world! That’s Legacy!