I’m wondering lately if it’s time for us all to go back to the start? For entrepreneurs (and anyone!) to recapture the first spark that ignited their imagination to build something – and put that to use in changing how we all work and, more importantly, make a difference in the world …  

Think about this. Companies used to invest in their communities as well as their businesses. Julius Rosenwald, who was instrumental in the growth of Sears Roebuck and Co., in the early 20th Century, built the Rosenwald Schools - 5,000 schools in the segregated south catering to black children, often in rural areas to improve education standards. Other efforts included the construction of affordable housing in Chicago, the donation of millions of dollars to further higher education for black students and the construction of hospitals and clinics in underserved areas.. In Pennsylvania, the Hershey Corporation built a town for workers – with public parks, transportation, schools and affordable housing – and opened what is now the Milton Hershey School for underprivileged children. And in India, the Tata family built the Tata Steel Township for workers, complete with housing, schools and parks. Then after World War II, a surge of optimism, saw more business leaders believing that their companies could really improve society by making quality products and providing good, stable jobs. The point is this – the act of making and selling things didn’t completely overshadow the act of doing good. In the old days.

Don’t get me wrong. There are wonderful organizations, foundations and individuals who carry this torch today – but somewhere late in the last century, the vast majority of businesses changed direction. Economic theories began to shift and we saw corporate attention move from valuable employees, customers and communities, to shareholders who only wanted value. Very quickly the pursuit of profit overshadowed the original missions of companies that had once started out on the path to do good.

‍Regaining purpose over profit

Fast forward to today – and the loss of company purpose has had a worrying effect, I feel. There’s widespread disillusionment among all kinds of employees and customers, many of whom believe companies and their purely financial motivations. The rise of the Gen Z consumer, more driven by affiliations with brands that authentically do good, will help to recalibrate how business gets done in time, but we can’t wait for that to happen. But while many companies continue to be driven by making money versus making a difference, I argue – can’t we do both?

What I always ask a client who is interested in becoming a force for good, like Latitude did from day, one, is this: is there some way to truly reconnect with the core values of your business? What do you do better than anyone else that can make a difference? What is it about your skills and your people and offerings that can be focused on helping others? By rediscovering that foundation and making it your mission to make a positive impact on the community you do business in, or the world, in general, it’s possible to strengthen the trust of consumers that is so essential for long-term success.

People are attracted to brands that stand for something bigger and more important than their logo and bottom line. It’s why brands like Patagonia and Cotopaxi have built real reputations and devoted consumers with their, in the case of Patagonia,  decades-long leadership efforts in environmental and social justice causes. Attracting those consumers and engaging them in shared values is about building relationships and that has to start with leadership. But it’s not going to happen with a new DEI policy or another check written. If a leader is sitting on a board for their own ego, they’re taking a seat from someone that could actually get involved and truly help.

Culture change for good must start at the top. And know it’s going to cost the business something to transform, but the journey will pay dividends. Every leader needs to embrace the idea that they can’t harvest results and rewards if they don’t plant a lot of seeds. Success will require adopting an abundance mentality beyond scarcity thinking. Ask “how can we be a multiplier of what we do?” Or can you invest in the communities and causes that your consumer cares about to make their lives better, or to raise living or working  standards. Balance sheets need to be viewed differently too. It’s easy for generosity to be seen as a bottom line liability, but when fully activated across a business, it can affect change in indescribable ways. And when companies work from a place of generosity, the act becomes energizing for employees, improving performance and relationships with everyone from business partners to consumers too.

As we all head into planning for the year ahead, is it now time to rethink the measures for success. Doing that is the first step to a more equitable, sustainable and compassionate world. And isn’t that good?

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