Business Changing

Profit and Growth Specialist

Let’s call it business karma…

by Leave a Comment

Do you remember that guy Mr Burns on The Simpsons? He was Springfield’s resident millionaire, living in a mansion on the hill and making a killing from his nuclear plant while his many employees worked in less than awesome conditions.

 

The image of Mr Burns and his corporate creepiness is one many people have of big business owners. The shrewd businessman, living in his big home on the hill, rubbing his hands together and counting his millions by hand, not caring about the minions who are running his business and making it a success.

 

It’s no wonder so many people recoil against the thought of big businesses or corporates. It’s hardly an endearing connotation.

 

So I can absolutely see why “doing good” can be good for the bottom line. Yes, it may cost you more. Yes, it may mean you have to say no to some opportunities. BUT it can endear you to the general public who will become loyal and raving fans of yours because it. DOING THE RIGHT THING CAN BE PROFITABLE. Make a call to be good and fans will follow.

 

I read a great piece in StopPress last week that outlined why “doing good” is a good business move. Let’s call it business karma.

 

They shared The Warehouse’s “good citizen” moves, which include not selling R18 games and DVDs and introducing a ‘living wage’ for 4100 of their retail staff (going over and beyond legal requirements, at a cost of $6m to the business). These aren’t their first “non profitable” warm-fuzzy moves – they’ve always had a real focus on sustainability and recycling in their business, and a proud tradition of fundraising for local and national causes. Even though they knew that withdrawing the popular R18 games and DVDs from sale would lose them some customers and good sales, chief executive Mark Powell said the decision was driven by the company’s guiding principles and purpose, which include “making New Zealand a better place to live”. 

 

It went further to say that research by Jim Stengel shows the world’s fastest growing brands are the ones that have built the deepest relationships with customers. People like being friends/fans with people who are genuinely nice, right?

 

In fact, Stengel (in his book Grow) said that investment in these 50 companies would have proven 400 percent more profitable over the last decade than an investment in the S&P 500. Being community minded = profit growth.

 

His research found the fastest-growing 50 brands touch on these five fundamental human values:

·      Impacting Society: Affecting society broadly, from challenging the status quo to redefining categories.

·      Evoking Pride: Giving people increased confidence, strength, security and vitality.

·      Enabling Connection: Enhancing the ability of people to connect with each other and the world in meaningful ways.

·      Inspiring Exploration: Helping people explore new horizons and new experience.

·      Eliciting Joy: Activating experiences of happiness, wonder, and limitless possibilities.

 

So what are your plans for doing good? Can your business “give back” in some way? Can you help the causes that are important to your customers? Can you do business ethically and morally and go over and beyond in how you do it? Like everything else in business, do 10% more than your competitors and you’ll reap the rewards.

 

For ideas on how to get profit growth through doing better business, contact us for business coaching, business advice or consulting or to get onto our impressive bootcamp intensive. zac@businesschanging.com or businesschanging.com

Reader Interactions

Leave a Reply

Your email address will not be published. Required fields are marked *

  • "Zac has given myself and the business a real sense of clarity, and a better sense of day-to-day achievement for myself and the team. Zac’s ability to ask questions that are relative and beneficial have helped me grow the business and my self-awareness and create a more enjoyable workplace. Give Zac an inch and he’ll take you a mile!”
    Mathew Phelan, New World Churton Park
  • "Great two-day workshop that gives you a chance to reflect on your business, and focus on key points that need to be addressed to maximize your effectiveness and outcomes. The workshop was both entertaining and informative and really helped us to think about how we might navigate Covid / post-Covid, and plan out our next few years to guide the direction of the business. Food and hospitality was also great. Highly recommended!"
    Nelson Raynor, Isle of Eden
  • "Zac’s business workshop totally exceeded my expectations. The two days are well planned out to ensure your thought process takes you through the various stages needed to question why you are in business, where your business currently is at and where you want your business to be. Provoking questions, explanations, stories, presentations from successful entrepreneurs and of course Zac’s personal attention ensure you walk away with a clear and dynamic business plan. The venue was perfect, the lunch and refreshments sublime."
    Rachel Kann, IQ Property Management
  • "Zac is incredibly insightful, inspiring and has been absolutely vital in contributing to the growth of my business. He's made me think beyond my goals and really given me the push my business has strived for."
    Bex Riley, Tosca Salome
  • "Transformational… Revolutionary… Awesome… Take your pick! Our business looks nothing like it did just three months ago – our brand is visible in the market, there’s a buzz about what we are doing, doors are opening and our heads are in the game. Business Changing changes business for the better… I’m very very thankful we met – my only regret is that we didn’t seek you out sooner!"
    Nick Brown, Huffman Sauces
  • "Zac has also become a key enabler and contributor to us working towards the development of both our employee engagement and customer experience roadmaps. Kotahi is a new and fast-paced environment and it has been great to have Zac as a trusted advisor to both myself and the CEO. He has a no-nonsense and solid experience-based approach to his consulting style. I have enjoyed working with Zac and look forward to continuing on our engagement journey with the support of Business Changing”
    Jay Padden, HR General Manager, Kotahi
  • "The business planning workshop run by Zac is a great opportunity to challenge existing thinking in your business and take results to the next level. The workshop was well thought out and provided a structured environment to channel ideas and ambitions. Zac has the perfect presenting style allowing for plenty of interaction amongst your team and networking with other business from a variety of backgrounds. Highly recommended"
    Gray Borell, Novii