Starting Your SOCIALLY RESPONSIBLE Business

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... On the ten minute and BEA. I give you tools, a tactic, strategies, insights and tips that you can use to start, scale, grow and en x Your Business. Let's get into it. What's going on? Scott here? Welcome back. Today I'm going to be talking about socially responsible businesses. Now, like most of the topics that I cover on here, it's stuff that comes from some of the incredible guests that I have on my show, which leads to a larger discussion on the topic. So today I'm going to talk about socially responsible businesses. I've had this conversation a few times with different guests. Is something that I feel very passionately for and I think it's something that we have to talk about a little bit, because it's a buzz word that keeps flying around and nobody knows how to actually do anything about it. When you say to somebody I'm or when somebody says to you I want to be a socially responsible or a socially conscious entrepreneur, what the hell does that mean? How do you actually do it? How do you think about socially responsible entrepreneurship when building a business is already difficult enough. So if you've ever heard the phrase people don't buy products, they buy feelings, it's accurate. This is something that matters. So to understand how to build a socially responsible business is important. Now the future of business is all about giving customers what they want. Nothing changed there. It's not just about selling a product or service, but it's about giving customers a feeling that they're doing something for the good of the world. More and more customers are in search of businesses that can demonstrate social responsibility and, let's face it, with the state of the world in two thousand and twenty two, I think that everything sort of calls for a little bit more TLC, especially in the business community. The environment is suffering, the economy is struggling and social inequality is on the rise. Everybody is stressed out, but it's not all doom and gloom, because if you are building a business, you can model some of the businesses that are doing great things that are beginning to make headway in the social responsibility...

...arena. Now, this conversation and this video in this podcast, wherever you're consuming it, this all came from a conversation that I had with a CEO and founder of one of these types of businesses that has focused on social responsibility. They've done it properly, so hopefully this will give you some tips on how you can incorporate some more social responsibility and to your business. So let me give you some context. One of the most recent episodes of the success story PODCAST, my show, I had the privilege of speaking with Paul Shapiro. He is the founder and CEO of the Better Meat Company. Here's a brief bio on Paul. He's the author of the National Best Seller clean meat, how growing meat without animals will revolutionized dinner and the world. He is a CEO of the better Meat Co, oh socially responsible and cruelty free, Animal Free Meat Company. He is a four time Ted ex speaker. He's the host of the business for good podcast and if that wasn't enough, he's published articles in the Washington Post, scientific American fortune and many other notable publications. Paul grew up with the love of animals and he's always confronted the ethical dilemma of meat consumption. After twenty years of working in the nonprofit space as a lobbyist and advocate for animals, he became increasingly interested in the role the food technology could play in helping solve some of the world's most pressing problems, like climate change and global hunger, and this is what eventually led him to start the better meat company, a company that creates delicious, healthy and he made meat alternatives that are better for both people and the planet. And obviously, if you do want to listen to the whole podcast, go check it out success our podcastcom go find the one with Paul Shapiro and you can go listen to the whole podcast. So I'm going to unpack why we need social responsible businesses in two thousand and twenty two and how Paul's company is a perfect example. And I want a caveat that. I love to cover Paul's company. I love what he's doing. I actually eat a ton of meat, but I need to I need to put that out there because just because you eat a ton of meat, or perhaps you're not interested in meat alternatives,...

...doesn't mean you can't respect the fact that we need more socially responsible businesses to create solutions that could potentially improve our reality. Perhaps what Paul's doing may make it so that parts of the world that don't have access to the type of abundance that we have in North America can eat better can we can feed people globally. These are things and problems that Paul's company is solving for that you may not think of immediately when you think about meat alternatives. With a lot of other reasons why we have to focus on building socially responsible businesses, because not everybody has it as good as we have it right here in North America. So Paul's company, to better me Co, is an excellent example of a business that is both socially and environmentally responsible. Using the power of fermentation and harnessing the nutrients offered by a Mycoprotein, the better me co is able to create healthy, sustainable and ethical products that actually taste like meat, and in doing so, Paul's mission is to lighten the burden that animal agriculture places on the environment, while also helping to improve the treatment of animals. With an increase in awareness of the detrimental issues our planet is facing, it's never been more important for a business to consider their social responsibility, and he gave me. Paul gave me a compelling reason as to why two thousand and twenty two is a year for businesses to step up and become more socially responsible. To quote Paul. Think about the fact that there are nearly eight billion of US walking around on the planet today and we're going to have another two billion added to the planet in the next thirty years. We're not going to be farming on the moon, we're not going to be farming Mars. We have one planet to farm right and that's earth, and it's not getting any bigger. Earth is finite and, as such, we are all responsible for looking after its resources. But businesses don't have to focus on animal agriculture, like better me COO. There are so many other global issues than need our attention, such as climate change and it's impact on the environment, sourcing sustainable materials and products, the ethical treatment of employees, community engagement and giving back, and the list goes on. Non Typically, businesses hold more economic and social...

...influence than individuals, and by stepping into a more socially responsible role as a CEO or as a stakeholder, somebody who makes decisions in a business, you can make an enormous impact on the issues affecting your local space and even national and international issues. Now let's look at social responsibility from a business perspective. The concept of corporate social responsibility, or CSR, isn't just about doing the right thing. It's also an excellent strategy from a business point of view, which is why the corporate world has begun to see a noticeable shift towards the decade of purpose. Now what is a decade of purpose? In the two thousand, business leaders were primarily focused on connection. In the two thousand and ten s convenience, and now in the s they have focused more so on how to make a positive impact on society. This is partially due to the emergence of more sustainably minded people stepping into leadership roles in the past decade. But the same can't be true for all businesses. Not every business is turned over the leadership. So why this sudden chain? Simply put, purpose driven businesses are more successful. Take a look at these facts and figures. According to Cone Communications and Echo Research, ninety percent of shoppers globally with switch the socially responsible brands, and seventy six percent of consumers would decline doing business with an unethical brand. Nelson Iq reports that fifty five percent of consumers will pay extra for products that contribute to a good cause, and sixty one percent of investor sor his favorite companies that can demonstrate their corporate social responsibility efforts, according to Afflat not only that, but CSR is becoming almost essential for sourcing and securing top talent. millennials in particular are drawn to purpose driven businesses and many will turn down job offers from a company that doesn't have as social conscious, especially one that seems unethical, according to Cone Communications Two Thousand and sixteen, and we're in two thousand and twenty two now, so you can only imagine how those numbers that progressed. But a cone Communications Two Thousand and sixteen study on millennial employment engagement, here's some more interesting stats. Sixty four percent of...

...millennials take C us are into serious consideration when deciding where to work and will not take a job unless a company demonstrates strong cs our values. Eighty three percent will be more loyal to their company if it helps them take on more social responsibility as part of their role, as compared to seventy percent of the US average, and eighty eight percent find their jobs more fulfilling if they are able to contribute to alleviating social and environmental issues. Clearly, consumers and employees alike are looking for businesses with heart. So what does it take to start your own socially responsible business? That's the big question that we're trying to answer. Let's turn back to Paul Shapiro of the better me Co for some expert advice on how he began his ethically responsible business. So starting your purpose driven and socially responsible business is no easy feet. But when Paul began putting his vision into action, he wasn't an expert in the field by any means. He'd written books about the concept of technologies role in sustainable food production, but he was starting a business, not just preaching about the topic. Still, better met co ended up a resounding success. So how did he do it? Well, let's see what Paus to say, and we can observe from his success. So first start with a vision. You can't hope to achieve anything if you don't have a clear idea of what you're working on. Paul's vision for the better me co was to create meat products that were tasty for people. It caused no harm to animals, the environment or society. There was a clear vision and purpose behind the company and it was communicated effectively to both employees and customers. To quote Paul, I had a decision to make, he said in the interview. I had just written a book and there was going and he was going on tour talk about great entrepreneurs who I thought would end up saving the world, and so I thought I could continue to simply write about the people who I thought were going to save and solve the problem, or I could become one of them myself, and I chose the latter path. Clearly, Paul had a vision and you need one too. So, if you want to start a socially responsible business, what's your vision? What's the problem you're trying to solve? How can Your Business Ma make...

...a positive impact on this world? Next step after your vision, surround yourself at the right people. So, although Paul clearly was a go getter, he didn't have entrepreneurial experience in the beginning of his career as a CEO. However, he found a clever way to remedy this. He surrounded himself with people who had the knowledge he needed. Paul researched other meat alternative companies in order to learn more about fermentation and fungi based microproteins. But the majority of people he surrounded himself with, as it turns out, weren't experts in his field at all. They were just motivated individuals who shared the same passion for making change. If you read my book clean meat, he mentioned, one of the things you notice is that many of the people who I talk about in the book are not people who are seasoned entrepreneurs or people who have PhDs or other incredible credentials. Many of the entrepreneurs are people who just wanted to make a difference. When you're starting your own socially responsible business, follow Paul's lead and find like minded individuals who share your same values and your and your same goals. This will help you create a supportive community, one that can offer advice, mentorship and resources when needed. As your Ron once famously said, you are the average of the five people you spend the most time with. If you want to start a successful, purpose driven business, then it's important to surround yourself with people who will reaffirm your vision and help you achieve your goal. Next, read up on case studies, Immerse Yourself, get inspired so when you're first starting out in your mission to build a socially responsible business, you're full of energy, ideas and adrenaline. That's normal. It can be tempting to bar to head with their taking the time to do the research into the thing that you actually want to learn how to do and learn from those who have come before you. Remember, although you can gain a lot from studying the successes and failures of others, you will eventually have to put it into practice. So you do want to spend a little bit of time, while you have the luxury of time, to research people that have done it before. So in the interview, Paul spoke about highly successful start up then inspired him at the beginning of his journey. Perfect Day. Perfect day creates a dairy milk without the need for cows, using you to ferment...

...sugars from plants. The company's product of shels in two thousand and eighteen and they already began being stalked in major grocery stores like Kroger in safe way. Looking into businesses that have found success with a social conscience gave Paul the push you needed to start his own venture. Those stories about mere mortals who were making this happen. We're inspirational to me because I thought, Hey, if these guys can do it, maybe I can too. And they have done a phenomenal job running their company and I hope to have a fraction of the success that they're having. So if you are somebody who resists learning from others, in your too egocentric and you want to figure out everything yourself, I mean that's a horrible way to go into any business or any startup. I would say that if you are driven by your own merit or you have competitive feelings towards other businesses with a social conscious, you need to really check yourself and you really need to humble yourself, because that will be the biggest leverage point as an early on early stage socially responsible entrepreneur, it's important to learn how much you can learn from those who've done it before. Soak up their successes, their failures, their lessons learned to help make your own journey smoother, and then, lastly, conduct a ton of industry research. So you have to dive right into the thing that you want to figure out. Your feeling inspired. You've surrounded yourself with like minded individuals. So where do you go from here. This is where we get into the nuts of the bull and bolts of launching your own socially responsible business. Starting with industry research. So industry research is a little bit different than market research and that you're looking to answer the following questions. What are the current industry trends? What are the key players in the industry? What are the major challenges and opportunities facing the industry? Rather than looking at the figures of your specific product or service, you're looking at the trends in the industry as a whole and trying to fit and work out how your business can fit into that. You're trying to find the problems that your product or service can solve. For for example,...

Paul's Industry is one that has evolved exponentially in the last few years. The better Meko was born out of a realization the traditional meat industry was broken or wasn't really keeping up with the times, and that was a huge opportunity to create a more sustainable, ethical and profitable business model. But there was more industry research to be done within that specific niche. So to quote Paul, when you go back about five years or so, you get companies like impossible foods and beyond meat, we're trying to make products for die hard carnivores, something that really mimics the meat experience. So all of a sudden you have this huge universe of omnivores who are happy to eat plant based every once in a while, especially if it still tastes the same as me. And those companies really paved a new pathway. So, like Paul, your industry will have an entire landscape that you have to understand before starting your socially responsible business. Who are the major players? What challenges do they face? What new technologies or ideas or trends are emerging in the space? You have to understand that socially responsible businesses usually are paving the way for something. So the environment is much more dynamic than if you're going into a legacy industry. Not Always, but just keep a top of mine. By understanding the industry as a whole and how fast it's evolving, that understanding all the nuances and the players in the industry, you can start to see how your business can actually make a difference, which is the goal. You don't just want to create something that's already there, that's serving a purpose. It's already being served. You want to create something that's actually making a difference. So final thoughts on launching a business that makes a difference. There are obviously a ton of steps that you need to take in order to launch a successful business, but Paul's experience and advice provide for a great starting point for those who are looking to make a difference with their business. Let's run through a quick recap. So first, it's important to have a clear idea of what you want your business to achieve and how it will make a difference in the world. This can help inform all other aspects of your business, from branding to marketing, to operations to hiring. Once you have that vision in place, it's important to surround...

...yourself with people who share your values and can help turn that vision into a reality. Next, learn from others who have started similar businesses and find out what worked and what didn't for them, and then, finally, conduct a thorough analysis of the industry as a whole you want to enter in terms of emerging trends, opportunities and challenges with social responsibility. Keep in mind that is not just as startups who can make a difference. Established businesses can also make a huge impact by making small tweaks in their operation. There are plenty of resources and organizations that can help you get started. So if you are feeling inspired to start your own socially responsible business, do not feel like it's just too much of an effort to go down that pathway, because you can build a successful business while still being ethically and socially responsible, and that truly has very tangible business benefits. So, anyways, I hope you got a little bit from this. I hope it inspired you to go do some research and to go build that thing that is socially responsible, that is making the world slightly better, because, God forbid, if there is a time that we need people like you, it is definitely right now. So, if you like this video, if you like this podcast, definitely, please, please, please, hit the like button, hit the subscribe button, leave a comment somewhere on Youtube, on wherever. Dm Me with any other topics you want me to cover. I'll cover any sort of business topics. I hope this was valuable. Have a great week. Will speak against you. Cheers,.

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