This category includes articles about social entrepreneurs, typically about businesses with a for-profit model with a social mission embedded into the fabric of the business.
This category includes articles about social entrepreneurs, typically about businesses with a for-profit model with a social mission embedded into the fabric of the business.
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Sonja Dakić lives in a suburb in Belgrade where waste collection service runs only twice a week. Sometimes, when the rain comes or there is a holiday, you can’t expect it to run more than once in seven days. She and her husband always tried to have a sustainable life style, separating waste and composting, but the eco-friendly status changed seven years ago, when her daughter was born. Each wee, the stack of used diapers raised and Sonja couldn’t believe “how such a small person managed to cause such a big impact”. Buying diapers and contributing to the trash pile was not something she was into, so, she found out about reusable cloth diapers as the perfect alternative.
“Problem was finding them in Serbia. We would find them on the internet, but there was no delivery in the country. I had to mobilize all my network to try and get some diapers, then my daughter would grow beyond their size and I thought: what now?”, she tells us. The search seemed endless, then Sonja’s husband made the suggestion of producing them locally, since Serbia used to have a textile industry hub.
Although Sonja assures the entrepreneurial spirit was not one of her strengths, she decided to get hands on: in a partnership with a friend who had a shop for toddlers’ items, they started producing Daj Daj Diapers out of some savings she and Violeta Makovic, her partner, had.
“The best thing for us was that we didn’t know what would come next, so we decided to take one step at a time. If we knew, we might have given up”
The dual bought the machinery and the raw material. When they had to find skilled labour, the best choice was relying on the experience of the 50+ women who used to work in textile factories in former Yugoslavia — common narrative that we saw here and here. “They were searching for work, couldn’t position themselves in the job market and had previous experience, exactly what we needed”, she tells excited. She tells about the seamstresses’ reaction when they are consulted, because back in the days, the production process was not so open for opinions. “In the beginning, they got astonished, but they are very important for us. We have to respect their knowledge, because they are the ones who make our product, it would be nonsense not consulting the ones who bring our ideas to 3D, she explains. Nowadays, they are 3 seamstresses and the plan is hiring two more in the following months.
Sonja tells that, although she hires women from vulnerable groups and having a strong ecologic drive, it was only in the middle of their path that they found out that would be called social entrepreneurship. “Someone had to tell us”, she says between giggles. The brand grew, managed to find an interesting loan with Erste Bank — an Austrian bank that is very close to innovative and social initiatives in the Balkans — and Sonja spoke in TEDx Vienna last year.
For someone who allegedly didn’t have any tact for business in the beginning, Sonja runs Daj Daj very well: the loan is almost settled and the company has reached break even point. Now, the work is towards increasing the production scale and expand to new markets. The partners are in a program run by Impact Hub Belgrade to explore Central European markets, especially Germany.
Disposable vs reusable
But, is washing diapers really worth it? Isn’t spending more water and more energy the same as producing trash? Not necessarily. A research held in 2010 by Portuguese National Association for Nature Conservation in Quercos assures that the amount of water spent is not significantly higher when you go for cloth diapers. One can expect one ton of trash in two years using disposable diapers.
In Daj Daj’s case, Sonja assures that parents who choose cloth diapers also save money. “Our sum shows that a child will use 20 diapers in a two-years time. They are adjustable, so they follow the baby’s growth. And if washed in the right way, they can be used by two or three toddlers, she teaches us. There is also the idea of collecting diapers already used and giving them to low income families, but the donation rate is still not enough to do so.
She highlights that, inside the company, there is still room to explain new moms the advantages and how to use the diapers and there is a work os support to mothers. Breastfeeding support group and issues related to maternal leave are also in the agenda. “In the end, it is good to have the feedback, our product is not only ecological, but also help children in some other ways. Some moms come to us with a smile in their face, because they have finally found diapers that are non-alergenic, for instance”, she recalls.
“One hundred and twelve million children lack access to high-quality, reliable, affordable early childhood education [ECE]. It’s a fundamental injustice that caps their potential and robs children of the futures they deserve,” says SOMOS Managing Director, Anne Friedman.
SOMOS was recently recognized as a Hult Prize finalist at the Clinton Global Initiative.
Anne explains further, “Children who don’t receive high quality ECE in the first 5 years of life suffer from depressed educational and health outcomes, starting school about 2 years behind and never catching up. Even family stability decades later is affected by the education a young child receives. The problem is that potential is distributed equally but opportunity is not. Millions of children born into poverty are never given a fair chance to succeed and are then condemned for their failure in adulthood. It’s a tragic violation of the human right to dignity, life, and the pursuit of potential.”
SOMOS is a student-led social venture that was created to address the problem of unequal access to ECE.
Anne describes the effort, saying, “We’re giving parents the tools and support they need to change their children’s lives. First, healthy childhood development is predicated on high-quality interaction with a loving adult. For many and complicated reasons, the norms around parenting in situations of urban poverty often lead to suboptimal outcomes for kids. They simply don’t get as much developmentally beneficial interaction as their more affluent peers. But that’s easily changed! Give parents simple, fun suggestions for how to integrate their child’s education into their daily lives and they do it!”
“We deliver world class, age appropriate educational curricula directly to their mobile phone. We do it in small groups of parents so they can provide advice and support to each other. Not only are the benefits of peer-to-peer learning proven and significant, we believe having a community of support that follows a child for a lifetime is critical to changing his life trajectory. Many of the benefits of most of the world’s best early childhood education programs are lost before 3rd grade. We wanted to make sure they last and we think community is the way to make that happen,” she continued.
Anne shared the SOMOS vision of the future with me:
Call to mind your vision of a “slum.” Maybe it’s the favelas of Brazil, the townships of South Africa, the barrios of Mexico City, or the housing projects of Chicago. Imagine the kids growing up there and what their lives must be like. Now, imagine that every single one of them graduates high school prepared for college and/or jobs with dignity that allow them to provide for their families. Imagine their parents woven together into a safety net that doesn’t allow any of their children to fall through the cracks. That’s what we want to build. We want to connect parents with each other, and the resources they need, to turn their “slums” into safe-havens, to give themselves and their kids the futures they deserve.
On Thursday, October 22, 2015 at 1:00 Eastern, Anne will join me for a live discussion about SOMOS and its plans to alter the educational paths of millions of children living in urban poverty. Tune in here then to watch the interview live. Post questions in the comments below or tweet questions before the interview to @devindthorpe.
More about SOMOS:
SOMOS is an interactive social media company building virtual “villages” of resources and support around low-income parents in developing nations to empower them to become their children’s best teachers. Disparities in education before they even start school put 112 million children growing up in poverty at a permanent disadvantage, resulting in decreased health and educational outcomes, even family stability decades later. All this can be solved if parents have the tools and support they need to educate their kids. In small groups–“villages”–we deliver world class educational curricula that turns parents’ daily routine into brain building activities for their kids.
Anne Friedman earned BA’s in Political Science and Sociology from Stanford University, graduating with honors and the Firestone Medal for Excellence in undergraduate research based on her statistical analysis of the factors that influenced voter disenfranchisement in the 2004 presidential election. From there, she moved to Washington, DC to craft media and messaging strategies as Associate Director of the political consulting firm run by Donna Brazile. Wanting broader exposure to clients working on different social issues, Anne struck out on her own to found Bold Ink Communications, a communications consulting firm helping outstanding individuals and organizations to frame and communicate their brands. Over the course of five years, Anne built the business from the ground-up, eventually serving internationally-known celebrities including an Academy Award winning actor, a billionaire on the Forbes’ list, and one of the women nominated to replace President Jackson on the $20 bill. As much as she loved her clients and her work, Anne’s dream had always been to start a social enterprise so she applied to business schools and enrolled at ESADE in Barcelona to pursue an MBA. Upon graduation, she and four classmates founded SOMOS.
This post was originally produced for Forbes.
As I visit with social entrepreneurs around the world, I often find that religion is a motivating factor for their desire to do something that matters. Although rarely discussed, taking religion out of social entrepreneurship would, for some at least, rob it of its heart and soul. [It has been my honor to speak at a few Rotary District Conferences at discounted fees, but I’ve not been paid by Rotary International.]
Of course, many people approach social entrepreneurship from a purely secular point of view, including some who are religious, but that does not negate the influence of religion for others.
This week, I am attending the 2015 Parliament of the World’s Religions here in Salt Lake City, a gathering of 10,000 religious people looking to advance world peace, many through some form of social entrepreneurship.
K.R. Ravindran, President of Rotary International, a global organization with 34,000 clubs and 1.2 million members, most of whom are business and community leaders, will speak at the conference. He shared excerpts from his speech with me in advance.
Highlighting the importance of respect, he said, “ In Rotary, every religion is respected, every tradition is welcomed, and every conviction is honored, for in Rotary, we join in friendship and we are bonded by our dedication to service. ”
Rotary’s motto is “Service above self.” In a thought that is highly relevant for social entrepreneurs, Ravindran connects that motto to religion in his remarks, noting, “Service gives people a way to come together and a reason to work together for the common good, regardless of their differences. Charity and serving those with the greatest needs are ideas common to every religion, which is what Rotary is all about.”
Thirty years ago, Rotary took on the challenge of eradicating polio. At that time, there were about 350,000 cases of polio each year. In 2014, there were just 356 cases, reflecting a 99.9 percent reduction. The eradication of polio now appears certain within this decade.
Of this effort, Ravindran says, “Rotary’s decades-long fight to end polio is perhaps the greatest example of a project that has united every Rotary member around the world in pursuit of a single, shared goal”
On Friday, October 16, 2015 at noon Eastern, Ravindran will join me here for a live discussion about the role of religion in business and social entreprneurship. Tune in here then to watch the interview live. Post questions in the comments below or tweet questions before the interview to @devindthorpe.
More about Rotary International:
Rotary brings together a global network of volunteer leaders dedicated to tackling the world’s most pressing humanitarian challenges. Rotary connects 1.2 million members of more than 34,000 Rotary clubs in over 200 countries and geographical areas. Their work improves lives at both the local and international levels, from helping families in need in their own communities to working toward a polio-free world.
K.R. Ravindran is CEO and founder of Printcare PLC, a publicly listed printing, packaging, and digital media solutions company. It is arguably the world’s largest supplier of tea bag packaging, catering to nearly every major tea brand, with manufacturing facilities in Sri Lanka and India. Printcare is the winner of national and international awards of excellence. Ravindran has been a featured speaker at several international print and packaging forums.
Ravindran also serves on the board of several other companies in Sri Lanka and India and charitable trusts, including the MJF (Dilmah) Charitable Foundation. He is the founding president of the Rotary-sponsored Sri Lanka Anti Narcotics Association, the largest such agency in Sri Lanka. During the country’s civil war, Ravindran was involved in the business community efforts to find peaceful solutions to the conflict and was a featured speaker at the United Nations-sponsored peace conference in New York for the Sri Lankan diaspora in 2002.
A third generation Rotarian and a member himself since the age of 21, Ravindran has served on the Rotary International Board of Directors and The Rotary Foundation Board of Trustees and as RI treasurer.
As his country’s national PolioPlus chair, Ravindran headed a joint task force of the Sri Lankan government, UNICEF, and Rotary and worked closely with UNICEF to successfully negotiate a ceasefire with the northern militants during National Immunization Days. Aided by Rotary’s efforts, Sri Lanka reported its last case of polio in 1994.
He also chaired the Schools Reawakening project, in which Rotary District 3220 raised more than $12 million to rebuild over 20 tsunami-devastated schools to benefit 14,000 children. He continues to play a role in his club’s project to build a cancer prevention and early detection center in Sri Lanka. Once completed, it will be the only dedicated national facility to offer comprehensive screening and early detection services.
Ravindran is a recipient of The Rotary Foundation’s Citation for Meritorious Service, Distinguished Service Award, and Service Award for a Polio-Free World.
He and Vanathy have been married since 1975, and they have two children and a recently born grandchild.
Ulixes Hawili, with a team of student entrepreneurs from the University of Tampa, has created a company called Tembo Education, a 2015 Hult Prize finalist, to provide a proven curriculum of training to African parents to help their children prepare for school.
Ulixes, the Chief Intelligence Officer of Tembo, explains, “The problem is the lack of early childhood education in developing countries across the world. Millions of children are not afforded an opportunity to a high quality education and we believe that advanced economies are morally inclined to confront issues of this magnitude, even if it means making tremendous sacrifices.”
Noting that 86 percent of the population in sub-Saharan African have access to a mobile device, Ulixes says, “We are providing a high quality curriculum and training to parents across sub-Saharan Africa through mobile phones, effectively providing them with something that they do not have through something that they do.”
“Providing access to a quality early childhood education in developing countries will lay the foundation for economic development by catalyzing the acquisition of human capital, boosting relative incomes, and opening the door to foreign investment in the region,” Ulixes concludes.
On Wednesday, October 14, 2015 at 4:00 Eastern, Ulixes will join me for a live discussion about the the Hult Prize competition and the company he’s helped to create. Tune in here then to watch the interview live. Post questions in the comments below or tweet questions before the interview to @devindthorpe.
Tembo is raising money to accelerate its growth via GoFundMe.
More about Tembo Education:
Our solution uses a high-quality, evidence-based curriculum to train and employ home educators (members of the urban slum community) to teach parents via SMS text messages. The parents then educate their children in their own homes. We assess the learning process through a quiz via SMS text. For educating their child and answering the quiz correctly, the parent is rewarded with free airtime (minutes and texts).
We require parents and home educators to use our telecom partner to access the curriculum. Therefore, we increase the market share of the telecom. In our Nigerian pilot study, we have increased the market share of MTN by 33%, Globacom by 93%, and Etisalat by 92%.
We expedite the economic development of the country by not only educating millions of children, but also by creating employment opportunities, generating revenue for the telecoms, and opening the doors to foreign investors.
Jamie Austin and Aisha Bukhari co-founded Attollo SE Inc. as graduate students at the Rotman School of Management at the University of Toronto. Attollo was selected as a finalist for the 2015 Hult Prize competition, awarded last month at the Clinton Global Initiative.
Jamie explains, “Young children from underprivileged families do not develop the vocabulary they need for success in primary school. The extent that the vocabulary of these children is behind their more privileged peers has been termed the vocabulary gap.”
Aisha notes that over 100 million under-privileged kids are not ready for primary school, adding, “A key reason less-privileged children are not primary school ready and drop out of school later in life is that they are unable to understand and communicate with the world around them. They lack the quantity and variety of words needed to develop meaning and understanding of words. They lack the vocabulary needed to succeed.”
A solution, Jaimie explains, is Attollo’s product: Talking Stickers. You can see a demo here:
“Talking Stickers, which is comprised of an electronic device called ollo that can scan stickers, record and play-back audio in any language or dialect, helps parents deliver educational content from our partner educational organizations to their children. Talking Stickers also enables children to learn in unstructured ways through exploration of their world and environment,” Jamie says.
Aisha adds, “Since stickers can be placed on anything, Talking Stickers transform common household items into educational toys. Talking Stickers follow proven, culturally relevant, early learning curriculum to deliver the best education for every child in their home. In essence, Talking Stickers is a teaching tool, empowering parents to talk, sing and read to their children in a playful manner and build their vocabulary.”
Aisha explains their passion, saying, “We believe that literacy is a fundamental human right.”
“Language development is just the beginning. We envision Talking Stickers as a tool to communicate information about health, nutrition and all areas of early childhood development. Millions of parents struggle with correct usage of child products (medicine, nutrition supplements etc) because they are unable to read. Talking Stickers solve this problem by providing audio instructions enabling parents to correctly use child products,” Aisha concludes.
Jamie adds, “We aim to help underprivileged children below the age of 6 to develop their vocabulary skills, making them ready for primary school. This will help them to succeed in school and will increase their chances to get a good job and lift their family out of poverty.”
On Wednesday, October 14, 2015 at 2:00 Eastern, Aisha and Jamie will join me for a live discussion about the Hult Prize competition and their remarkable technology. Tune in here then to watch the interview live. Post questions in the comments below or tweet questions before the interview to @devindthorpe.
More about Attollo SE Inc.:
Attollo provides an affordable and playful way for parents to develop their child’s vocabulary at home. We do it through our innovation – talking stickers – which is comprised of a low-cost hand-held electronic device, named ollo, that can scan stickers, record and play-back audio in any language or dialect.
Jamie has a PhD in neuroscience and a MBA from the Rotman School of Management at the University of Toronto. He as worked as a health educator in a developing country and a project manager for Canada’s largest hospital network. Jamie is a co-founder of Attollo and currently manages the development and production of educational content and the measurement of learning outcomes.
Aisha is a Co Founder of Attollo SE Inc and an Action Canada Fellow (2-15-2016). She is an engineer and a social entrepreneur. She enjoys work that involves creating a positive social impact, leading change and developing integrative solutions. She is passionate about energy, innovation and social justice. Prior to co founding Attollo, she was working at Toronto Hydro where she spent six years leading development and implementation of innovative smart grid solutions. A career highlight includes leading the utility aspect of a consortium-based Community Energy Storage project – the first of its kind in North America. Aisha has also been an active participant in shaping the energy storage policy and framework in Ontario. She also served on the advisory board for Women in Renewable Energy, a non-profit organization. Aisha has a Bachelors degree in Electrical Engineering from the University of Toronto, a Masters degree in Electric Power Engineering from the University of Waterloo and is a recent graduate of the part-time Morning MBA program from the Rotman School of Management, University of Toronto.
This post was originally produced for Forbes.
Juan Diego Prudot was successful at a very young age. With the abundant opportunities afforded those of means, he has chosen the path of a social entrepreneur in an effort to improve early childhood education around the world.
Prudot sees the problem this way, “Over 100 million children under the age of six are living in underserved communities and do not have access to quality early childhood education. This situation leads to children being unprepared to enter primary school and with a weaker social and emotional foundation, thus making it more challenging for the youth to thrive and become productive members of society.”
Prudot led the formation of a team of student entrepreneurs in Taiwan, where he attends business school at National Chengchi University. The team launched IMPCT, which operates Playcares.com, and competed in and won the 2015 Hult Prize competition at the Clinton Global Initiative last month.
Prudot explains the business, which provides infrastructure for women in the developing world to provide bona fide educational services rather than mere daycare, saying, “We are building a bridge between people that want and are able to become part of a solution with hardworking communities that only need an opportunity. Playcares.com is not only a financial inclusion mechanism to empower women to run Playcares, but it is also a way to generate awareness of how quality early childhood education will break the poverty cycle.”
“By 2020 we aim to allow 10 million children to have access to the type of early education that will change their life trajectory in a positive way. Additionally, by attracting millions of people to participate in Playcares.com we will set the precedent that investing in and empowering people from underserved communities is not only the best way to make an impact but an exceptional investment opportunity,” Prudot asserts.
On Wednesday, October 14, 2015 at noon Eastern, Prudot will join me here for a live discussion about winning the Hult Prize and the company he helped found. Tune in here then to watch the interview live. Post questions in the comments below or tweet questions before the interview to @devindthorpe.
More about IMPCT:
The need for both parents to work has driven informal daycares to spring up in underserved communities around the world. These daycares are small businesses where women stay home and keep between 4 and 8 children in their living rooms. The daily fee for this service depends on the area they operate in and is typically 25% of parents’ daily wage.
IMPCT found an opportunity to increase the scale and quality of these businesses with a product called IMPCT Playcare. A Playcare is a small childcare franchise, owned and operated by a local entrepreneur, which includes a purpose-built classroom, training to deliver a play-based Montessori learning curriculum, and ongoing support to make sure the children’s development is on track. Each Playcare provides 20 nearby families affordable and accessible early education opportunities for their children.
With this model, IMPCT created a unique investment opportunity with both social and financial return. Through the Playcares.com website people can participate and track their investments as well as receive real-time updates of the lives it has changed. This is radical financial inclusion; this is a better way to do good.
Juan Diego Prudot is a software engineer turned social entrepreneur from Tegucigalpa, Honduras. He grew up in a home where he learned the habit of working hard from his father and the qualities of empathy and compassion from his mother. The former, singlehandedly coded a complete banking software suite while the latter provided a never-ending supply of love and encouragement. At age 19, he started working for his family’s business, SAF Soluciones, where he led a major technology change that allowed them to become the number one financial software producer in Honduras.
In 2013, looking to learn Mandarin Chinese and enhance his management skills, Juan Diego enrolled in Taiwan’s top MBA program at National Chengchi University. While studying there, he effectively led multicultural teams and developed meaningful relationships that allowed him to learn about the Hult Prize Challenge. He assembled IMPCT, the team that in September 2015 won the Hult Prize and US$1 Million to provide quality early childhood education to millions of children living in poverty. The winning model includes a web platform, playcares.com, for which Juan Diego, as CTO of IMPCT, is leading a development team from Taiwan.
Building social capital, this is the flag raised by Mozaik, a foundation that intends to change Bosnia & Herzegvina (BiH) investing in what they consider to be the main resource their society has: youth. One of the main challenges pointed out by Bosnians — the most prominent among youngsters — is low employment rates. World Bank data shows that unemployment level among youth in the Balkan country is above 60%.
The job creation rate in BiH does not follow the pace of qualified workforce that taps into the job market and the options left usually include migrating to a European Union country, trying a stable career as a public servant or “becoming a football player, reality show celebrity, they don’t have good references of entrepreneurial mindset”, Vesna Bajšanski-Agić, Mozaik Foudation executive director tells us. In order to change this landscape, Mozaik has a very bold goal: “by 2025, creating a group of young entrepreneurs and innovators that will build successful social businesses, create jobs and become an example to the 70% young Bosnians that dream of leaving the country”.
According to Vesna, it is not a lack of funds that is stopping e Foundation from achieving its goals, “what is missing is trust, due to our history. We don’t trust each other, even on a community level. There are always the risks to be taken and it’s easy to find reasons to avoid taking risks together with that other person”, she tells us.
Then, Mozaik has developed its own methodology to make non-refundable investments. It is not necessary to pay the full amount back, but finding an equivalent local contribution. By doing so, we manage to create engagement of people towards certain causes”.
the solution proposed by Mozaik seems to work, according to its reports, in 2004, only 20% of all the funds directed to finance projects came from the own community. In 10 years, this amount supasses 56%. “We have learned that it is necessary to let the community choose what they want to do wi the money. We may visit them and see that there is a school missing a roof, but they want to build a park. It is not up to us to decide that the school is priority, because if they do what they want to, they feel they are in charge. Thus, it is possible to build trust and let them establish their leaderships and allocate their resources locally. Then, the school roof will eventually be taken care of”, Vesna says.
“We must let the members of the community choose what to do wit the money. If they do what they want to, they feel they’re are in charge. Then, it is possible to build trust and let them establish their own leaderships and allocate their resources locally”
Social impact as a business goal
“Mozaik is in another level”. This is how the Foundation is known in the Balkans, a reputation earned out of the partnerships it forges with initiatives from the neighboring countries. Having a available funds and support from EU and other big players of the social entrepreneurship world, Mozaik consolidate itself as a reference in the region. But not everything is perfect, although they already envision the possible solutions. “We are creating solutions and approaching certain problems, but we are still not sustainable, the foundation is not sustainable. Now we have to be there wi a Euro to mobilize three more Euro, so for us, social entrepreneurship is the right answer because it provides for the Foundation, ponders Vesna. Mozaik now has two social business under its umbrella: EkoMozaik, which works with sustainable agriculture and Маšta, a communication and events agency.
For Vesna, impact is the only thing that matters, and she makes sure to reinforce that, as in any other business segment, when it comes to social impact it is mandatory to define clear goals. “If you are the CEO of a car company and your goal is having a certain value as profit, you cannot say, when you deadline comes, that “something happened and your goal has not been achieved”. You will find any way possible to reach the goal. The same applies with impact, we know where e want to be in the next 10 years and we know how to measure whether our actions worked out and changed what is needed in the process, she argues. For Mozaik, a social business is, before anything else, is a business. “It won’t work without productivity and without knowing what you want to reach”, Vesna assures.
This post was originally produced for Forbes.
Wendy Lipton-Dibner, the bestselling author who has just seen her latest book, Focus on Impact, published has focused her career on helping people put results and outcomes ahead of financial returns with the reassurance that by focusing on impact, the money will come.
When Lipton-Dibner talks about “impact,” she’s using the word in a more traditional sense, meaning non-financial outcomes and results rather than its use in social enterprise circles with a focus on social good.
That said, her focus on traditional impact is highly relevant for the socially conscious–and her message is good news for social entrepreneurs. As we focus on impact, she says, success will come.
In preparing for this piece, I asked Lipton-Dibner for three tips to help social entrepreneurs have more impact. Here’s what she shared:
- Best practice isn’t always smart practice. If your business goal is to make a lasting and profitable impact, traditional business models won’t get you there. Research of over 1000 multi-national enterprises, hospitals, private practices, non-profit organizations and small businesses has shown the more people focus on increasing profitability, the more money they end up spending to make up for problems they caused by focusing on money. The answer: Focus On Impact in every area of business from visualization to execution, internally and externally.
- Capitalize on the social shift. Gone are the days when we trust the words of the CEO who reassures us his/her products and services are best in class. Consumers have learned the hard way that just because we say we can help them, doesn’t mean we will. They’ve learned to trust shoppers more than sellers. They’ve become cynical, skeptical and cautious. The traditional “voice of authority” has shifted from business to consumer and this social shift has created the “Era of Sampling” – a try-before-you-buy economy in which impact is the new global currency. Now is the time to take control over the shape of your impact, the size of your impact and the rewards you reap as a result of your impact.
- Maximize your unique impact. You’ve been impacting people since the first moment you kicked inside your mother’s womb. Every since that moment you’ve impacted hundreds – perhaps thousands of lives – simply by interacting with people and bringing your unique combination of DNA, social experiences, education, skills, perspective and personality to the world. In business, your unique impact carries an extraordinary opportunity. Every email, every post, every tweet, the simple act of answering your phone, leading a meeting or talking to a stranger – everything you do and everything you don’t do has an impact on someone else. The secret is to define your unique impact and strategically infuse it into your marketing, products and services to create the one-of-a-kind, measurable impact that will set you apart as the go-to in your industry.
On Thursday, October 8, 2015 at 6:00 PM Eastern, Lipton-Dibner will join me here for a live discussion about her insights for having more impact. Tune in here then to watch the interview live. Post questions in the comments below or tweet questions before the interview to @devindthorpe.
More about Professional Impact:
Professional Impact, Inc. is an international training and consulting firm, specializing in helping experts, executives and entrepreneurs maximize and capitalize on the unique impact they bring to people’s lives through one-of-a-kind messaging, products and services. Since 1983 we’ve had the privilege of serving hundreds of thousands of people in corporate, healthcare, small business, non-profit and entrepreneurial industries through in-house training and consulting, international bestselling books, live events, online training programs, world-class speaking engagements and media interviews. Our mission is to make an impact on people’s lives so they, in turn, can make an impact on every life they touch.
Wendy Lipton-Dibner, M.A. is the world’s leading authority on business development through impact strategy. President of Professional Impact, Inc. and founder of The Action Movement™, Wendy is internationally-recognized for her unparalleled ability to help clients grow profitable businesses by maximizing and capitalizing on the impact they bring to people’s lives through their message, products and services.
This post was originally produced for Forbes.
Closed Loop Fund, an impact investment fund, recently closed its first three deals, providing financing for municipal waste.
Rob Kaplan, Managing Director, explains the reason for the fund’s existence, “Lack of infrastructure is one of the greatest barriers to more recycling in the country. The Fund plans to invest $100 million in the U.S. recycling infrastructure by 2020. The Fund invests in the form of zero-interest loans to cities and low interest loans to recycling companies, to prove that recycling business models are financially sustainable now into the future.”
Kaplan described the recent transactions, saying, “On Sept. 24, Closed Loop Fund, an impact investment fund that makes below-market loans for recycling infrastructure, including household recycling carts, facilities, and technologies, announced its first three investments to bolster recycling infrastructure and reduce the over $5 billion dollars spent by cities annually on landfills.”
“The initial capital includes $7.8 million from Closed Loop Fund, which helped to unlock an additional investment of $17 million from other public and private co-investors, totaling $24.8 million. All three investments demonstrate replicable economic and environmental returns that recycling can bring to communities across the United States. This is the first of over $500 million the fund expects to unlock to invest in American recycling over the next five years,” Kaplan concluded.
Sunday’s New York Times included an op-ed by John Tierney that seemed almost to be an obituary for recycling under the headline, “The Reign of Recycling.” The piece argues that the environmental impact of recycling is modest when properly calculated.
On Thursday, October 8, 2015 at 2:00 Eastern, Kaplan will join me for a live discussion about these recently completed deals and we’ll get his take on the death of recycling as well. Tune in here then to watch the interview live. Post questions in the comments below or tweet questions before the interview to @devindthorpe.
More about Closed Loop Fund:
Founded in 2014, Closed Loop Fund is a social impact investment fund that provides cities access to the capital required to build comprehensive recycling programs. Closed Loop Fund aims to invest $100 million by 2020 with the goal to create economic value for cities by increasing recycling rates in communities across America. Closed Loop Fund brings together the world’s largest consumer product, retail financial companies committed to finding a national solution to divert waste from landfills into the recycling stream in order to be used in the manufacturing supply chain. Key supporters include 3M, Coca-Cola, Colgate-Palmolive, Goldman Sachs, Johnson & Johnson Family of Consumer Companies, Keurig Green Mountain, PepsiCo, Pepsico Foundation, Procter & Gamble, Unilever, Walmart and the Walmart Foundation. For more information, visit www.closedloopfund.com.
Rob Kaplan proves that creating business value and passion for protecting the environment can peacefully co-exist. As Managing Director of the Closed Loop Fund, an innovative platform for impact investing, sustainability, and the circular economy, Rob oversees strategy and new business model development, as well as day-to-day operations. The Fund aims to scale recycling through zero interest loans to cities and investments in waste companies.
Prior to joining the Fund, Rob served as Director of Sustainability for Walmart Stores, Inc. where he was responsible for packaging, customer engagement, and integration with the Consumables business, including personal care and household cleaning. Rob led the creation of the Sustainability Leaders shop on Walmart.com to help consumers make responsible purchasing decisions online, built a unique collaborative initiative with competitors called the Beauty & Personal Care Innovation Accelerator, and cofounded The Closed Loop Fund. Rob previously led Walmart’s cross-functional efforts to eliminate 20 million metric tons of greenhouse gas from the supply chain.
Rob’s career has always been fueled by his passion for sustainability and social issues. Before joining Walmart, he helped lead corporate responsibility and brand strategy for Brown-Forman Corporation, which produces and markets spirit brands such as Jack Daniel’s. Rob developed marketing strategies to engage consumers, improve social and environmental performance, and advance business objectives.
Rob received his MBA from the Haas School where he studied marketing, corporate responsibility, and social entrepreneurship. Prior to graduate school, Rob was State Communications Director for Fight Crime: Invest in Kids California and a political consultant for M&R Strategic Services in Washington, DC. Rob received his undergraduate degree in political communication from the George Washington University where he learned that perception is reality. He lives in Brooklyn with his wife and two children.
This post was originally produced for Forbes.
“The United States was once had IPO markets that made our stock markets the envy of markets throughout the world,” according to David Weild IV, Chairman and CEO of Weild & Co.
He continues, “With the move to electronic markets beginning in 1998, the small IPO collapsed. The US should be averaging 950 IPOs a year and we muster only 150 IPOs on average since 2000–a number that doesn’t even replace what is lost in an average year. This cost the US economy 10 million jobs.”
Weild, the former vice chairman of the Nasdaq Stock Market and an expert on capital formation who worked on many aspects of the 2012 JOBS Act. His concern about where the markets have gone is matched by his enthusiasm for where they could go.
“Of course, the JOBS Act was passed and that helps to drive down costs for corporate issuers. In the meantime, we were the catalysts for the SEC Tick Size Pilot which launches this spring and the current discussions in Congress for ‘Venture Exchanges’–a totally new type of stock exchange that would be optimized for the needs of small (sub $2 billion market value) capitalization stocks,” Weild adds. “In addition, Weild & Co. is working to crash the cost of helping corporations market to much larger numbers of the right investors over the internet. To date, we’ve been able to as much as double institutional investor interest on IPOs and we think this is the beginning of something revolutionary.”
Weild’s enthusiasm for the markets is matched by his desire to see social enterprises flourish.
“If we can get the United States (and the rest of the world) to structure markets that are friendlier to entrepreneurs, scientists and engineers, that increased access to capital could contribute over 10 million net new jobs to the US economy over a decade while solving some of the great challenges of our time in areas including healthcare and global warming. We believe we are the single most important social impact company on the planet, because what do we helps to enable vast numbers of social impact companies.”
On Thursday, October 8, 2015 at noon Eastern, Weild will join me here for a live discussion about the markets and the work that Weild & Co. is doing to give social entrepreneurs and others greater access to capital. Tune in here then to watch the interview live. Post questions in the comments below or tweet questions before the interview to @devindthorpe.
More about Weild & Co.:
Weild & Co. develops and applies scalable technology platforms and services to increase demand for offerings and aftermarket support. We do this for private placements, IPOs and follow-on offerings. Our clients include public companies and investment banks who engage us to expand distribution. As the world’s leading experts in how market structure impacts company fortunes in capital markets, Weild & Co. leads the way in driving improvements in capital formation for corporations that will lead to enhanced economic and job growth.
David Weild is Chairman and CEO of Weild & Co., the investment bank that develops and applies technology to help companies and other investment banks increase institutional investor demand on private placements, IPOs, follow-on offerings and in the aftermarket. He is a noted expert in capital markets who has testified in Congress numerous times in front of the House Subcommittee on Capital Markets and the Securities & Exchange Commission (SEC). He has spoken at the G-20, Federation of European Securities Exchanges (FESE), the Budapest Economic Forum and addressed the 34 member nations and the European Commission for the Organization of Economic Co-operation and Development (OECD). He is known as the ‘Father’ of the JOBS Act for studies that he co-authored with Edward Kim that were the first to identify and characterize the long-term structural decline in the IPO and listed companies markets. These studies inspired most of the bills that were later wrapped into the JOBS Act.
Subsequent work by Weild catalyzed the SEC tick size pilot (scheduled to launch in spring 2016) and current legislative interest in “Venture Exchanges.”
Mr. Weild was formerly Vice Chairman of The NASDAQ Stock Market in charge of the Corporate Client Division with line responsibility for NASDAQ’s 4,000 listed companies. Mr. Weild also headed equity capital markets and corporate finance at a top ten underwriter of IPOs and follow-on equity offerings. During the course of his career he worked on over 1,000 of these transactions. Mr. Weild holds an MBA from the Stern School of Business and a BA from Wesleyan University. He has studied on exchange at The Sorbonne, Ecole des Haute Etudes Commerciales and The Stockholm School of Economics. Mr. Weild is a former Treasurer of The Bond Club of New York. He currently holds FINRA Series 7, 24, 63, 79, and 99 licenses. He is Chairman of the Board of Tuesday’s Children, the noted 9/11 organization that now also serves victims of mass gun violence (Resiliency Center of Newtown) and families of the fallen.