How to build a company with a social good mission

Building a social good mission into your company is not only a way to give back but it’s a great way to set your brand apart from the competition. Here at Flourish Media we have established our own nonprofit organization, Behind The Leaf, to help diverse women see small business ownership as a viable opportunity for economic advancement by offering educational products, workshops and networking opportunities.

Through Behind The Leaf we host an annual conference that provides female business owners with resources and access to capital and/or investors. We also host a traveling book fair called PublisHER. 

Building a company with a strong social good component has allowed us to bring our mission to our community and grow together. It is evidence of how we truly live our mission and that has helped build many valuable relationships and partnerships. No matter what kind of business you have, social good is something that consumers are now seeking out. A recent study found that 66 percent of consumers are willing to pay more for sustainable brands, up from 55 percent in 2014. 

But social good must be done right to be effective. It’s important to earn the trust of consumers through authentic communication, press coverage and distributing quantifiable data about the results you are creating. 

When it comes to creating a brand that is committed to social good, here are a few ways to do it right: 

Commit to an issue 

Pick one core issue that means the most to you and identify ways to become an ally. For us, we believe in supporting the advance of minority and female-owned businesses. By providing accessible workshops, networking events and funding opportunities we are able to stand behind our mission and focus where it matters most. If you are jumping around to different causes, you run the risk of spreading our resources too thin and not making as much as an impact. 

Create a separate entity 

While there are several different options for creating a legal entity for giving back, it’s important to separate this work for legal and tax purposes. Behind the Leaf operates as a 501c3, which requires a board of directors, annual reports and other checks and balances to operate. Another popular option is to establish a B Corp, which is reserved for-profit companies that meet certain standards of social, environmental performance, accountability and transparency. Examples of well known B Corps include Patagonia and Ben & Jerry’s. Every business is different so be sure to consultant with a lawyer to decide what’s right for your social enterprise.

Create strong partnerships

While your company may not have the resources to operate a major social initiative, tapping into existing networks and organizations can help with resource sharing, fundraising and outreach. Do you homework and be sure to work with partners whose values align with yours. 

 Looking for support to grow your mission and create more positive impact in the world? Schedule a free consultation call with the Flourish Media Team here.