Why Need-Based Capitalism Matters for Entrepreneurs

Why Need-Based Capitalism Matters for EntrepreneursOver 1.4B people around the world live off the grid, according to IRENA.org. 780 million people around the world lack access to clean water and WFP.org reports that 842 million do not have enough food to eat. In terms of healthcare, 1.3 billion lack access to necessary healthcare systems. The numbers are so staggering that they make it difficult even for those who would like to help as they do not know how or may have even lost belief in the systems that are currently tasked with doing so.

How do we, as a species, incentivize caring about the future of our race and the planet we currently inhabit?  We desperately need modern and forward-thinking problem solving in business that takes full advantage of proven economic incentives, technological advances, helps clean up our world and combines success with moral courage to do what is right and just.

We can apply these same formulas to solving major global problems that affect billions of lives. This morally responsible and motivational course of action is what I call need-based capitalism.  Products and/or solutions are based around basic human need, not want or desire for non-essential luxuries. The only additional criteria required to add to the already proven-successful, incentive-based structure that in turn will affect positive change and provide solutions to macro problems, is the development of these businesses strictly around solving the problems themselves.  This providing of responsible and sustainable solutions, in fact, and synergistically, is also makes for a strong business case.  In other words the size of the problem directly correlates to the market size and business opportunity.

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Celebrate Earth Day with Mycorp’s Best Posts on Benefit Corporations!

Happy Earth Day everyone! This year marks the 44th annual celebration of Earth Day, and we’ve all made a lot of progress towards becoming more environmentally friendly. In fact, according to Reader’s Digest, 1 out of every 3.3 Americans considers themselves environmentally conscious, and 1 out of every 2.3 Americans recycle. Benefit Corporation Though some have considered the environmental movement to be just a fad, it is clear that many more of us are concerned with the impact we have on the environment.

With the arrival and recognition of Benefit Corporations, even corporate law is changing to accommodate our growing environmental and social consciousness! Benefit Corporations are for-profit companies that wish to pursue a social and environmental mission, even if that mission cuts into their profit. We here at MyCorp are huge fans of B-Corporations, and to celebrate Earth Day we thought it’d be fun to take a look back at some of our blog’s most interesting, and informative, Benefit Corporation-related posts.

  • Never heard of a Benefit Corporation? MyCorp released a handy infographic to help explain the background of Benefit Corporations, and why they are such an important new entity.
  • If you’re looking for creative ways to further your environmental mission, our guest blogger Kristina Jackson was kind enough to give us her 7 tips on how to further your green agenda through social media.
  • Trying to figure out if your business can go green? Check out this post by guest writer Clint Robertson on the 6 unlikely industries entrepreneurs can go green in!
  • If a Benefit Corporation sounds like something you are interested in, we can help get you get it set up and running. Our CEO Deborah Sweeney even wrote a post on how to run a Benefit Corporation!
  • Even if you’re not ready to commit to running a Benefit Corporation, you can still work to do your part and reduce your impact on the environment. Our guest blogger Kandace Heller recommended six ways you can reduce your business’s waste.

Have any questions about Benefit Corporations? Thinking about forming your own? Leave a comment below, or give us a call at 1-877-692-6772, and we’ll be happy to help you out!

6 Unlikely Industries Entrepreneurs Can Go Green In

6 Unlikely Industries Entrepreneurs Can Go Green InIn an age where climate change is one of the first things mentioned in political campaigns and global warming updates are plastered all over the news, people have grown infinitely more aware of the environment. This shift toward an eco-friendly lifestyle has opened up a slew of opportunities for entrepreneurs looking to change the planet and capitalize on the green scene.

Starting a business as a benefit corporation and being completely transparent about your environmental performance could pay dividends, not only for the environment but for your business’s bottom line. According to a 2013 Nielsen study, 50 percent of global consumers surveyed are willing to pay more for services and goods that give back to society.

Better still, there are opportunities available in every industry to start a green business. Eco-friendly companies are no longer limited to organic farms or natural product lines. You can even leverage your expertise in a career you’re passionate about and turn it into a green endeavor with a few simple changes. Check out these ideas for starting a green company in an ordinary, everyday field.

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5 Questions with B-Corp Innovator Jenelle Isaacson

Jenelle Isaacson, owner of Living Room Realty

As our B Corp interview series comes to a close, we’re excited to end the series on a strong note for businesses that decide to file as Benefit Corporations by featuring Jenelle Isaacson, owner of Living Room Realty in Portland, Oregon. Living Room Realty has the distinction of being the first real estate company in Oregon to become B-Corp certified and today, we spoke with Jenelle about how she hopes Benefit Corporations will be the future norm for business and how her company believes in building both business coupled with community – “one great neighbor at a time.”

1) How did you get started with your company?

I was getting ready to have a baby and wanted to leave my current office anyways so I could have my own place I could easily bring my baby in if I needed and have control over the environment of my office. I was nesting. I wanted my own space, with my favorite teas, assurance the office was cleaned with natural products and was somewhere as comfortable as my own living room if I would be balancing two children under two years old and a thriving real estate business.

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B Corp Experts Weigh In: Senen Garcia

Senen Garcia, Esq. of SG Law Group

Accountant, attorney, and B Corp movement supporter Senen Garcia, Esq. got his entrepreneurial start at an early age. The sole owner of two businesses before completing his bachelor’s degree in Business Administration with a concentration in Entrepreneurship and International Business, Garcia opened his accounting and tax practice before receiving his undergraduate degree. While running said business, he completed his Graduate and Juris Doctorate degrees and now operates SG Law Group in Florida which assists clients with their corporate, real estate, estate planning an property insurance claim needs.

Today he’s giving us a look at how he got interested in the B Corp movement, what he believes Benefit Corporations need in order to succeed and why the real benefit behind the B Corps has a lot to do with marketing.

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B Corp Experts Weigh In: Q&A with Lisa Garrison

Lisa Garrison, Attorney, Smith Moore Leatherwood

At the firm of Smith Moore Leatherwood LLP, Lisa Garrison maintains an active business litigation practice advising and representing clients in anything from claim appeals to multiple jury trials, but she also has an active presence with companies that have socially beneficial missions. Lisa serves as the founder of the firm’s “Benefit Corporation Team” or the “B Team” which focuses on exploring and serving the legal needs of aspiring or existing “benefit” or “B Corp” companies – for-profit businesses that seek to better the world through identified social missions and by focusing on sustainability and TPL/3BL (the “triple bottom line” pillars of profits, people, and planet).

Today, we’re discussing with Lisa how the “B Team” came to be at Smith Moore Leatherwood LLP and the assistance it provides Benefit Corporations in need, the financial advantages that come with forming a B Corp, and why every entrepreneur needs to read up on the pros and cons of Benefit Corporations before starting one up.

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5 Questions With B-Corp Innovator Nancy Goldstein

Nancy Goldstein, Founder and Chief Strategist at Compass(x) Strategy

What’s your (x)? It’s a question that Nancy Goldstein, Founder and Chief Strategist at Compass(x) Strategy likes to ask her clients in order to help companies overcome their most difficult marketing and growth strategies and put something good, useful, and powerful into the world. And while Compass(x) has been a proud certified B Corporation since 2011, the business was initially an LLC and Goldstein originally worked in brand management – not exactly in the same world as the one the B-Corp resides in!

Today we asked Nancy five questions about her B-Corp and discovered more about the journey she and her business took on their way to becoming B Corporation certified and why marketing is no longer about what your company does, but rather everything that you are.

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B Corp Experts Weigh In: Jay Coen Gilbert

Jay Coen Gilbert, B Lab Cofounder

When we first started taking a closer look at benefit corporations, we were really building off of the momentum that began with B Lab, the nonprofit that pushes for Benefit Corporation legislation and certifies B Corps. Little did we know, we’d be interviewing Jay Coen Gilbert, one of the three cofounders of B Lab, on our blog! We were so excited, we added a few extra questions in today’s interview where Jay tells us about the benefits forming a B Corp brings to society and the environment, and that for all companies, it’s most important to take the first step and see where you stand.

1. What’s the source of your passion and inspiration that drove you into your leading role in the Benefit Corporation movement?

B Lab’s three cofounders, Bart Houlahan, Andrew Kassoy and I (Jay Coen Gilbert), all share a passion for using market forces to address society’s greatest challenges. We’ve worked in business for most of our careers and hope to harness the amazing talent, passion and resources we’ve seen there to make a better world. Ultimately, we founded B Lab to serve those entrepreneurs who are using business as a force for good.

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5 Questions with B-Corp Innovator Lisa Fournier

Lisa Fournier, Founder of Norfolk Fair Trade Co.

Lisa Fournier isn’t your average B-Corp business owner. The founder of Norfolk Fair Trade Co., she’s also the author of “The Barnabas Effect,” an entrepreneurial blueprint for communities and entrepreneurs on how to work together to build a stronger and more successful society. It’s not often that we get to interview with business owners turned authors in the B-Corp community and today we got the chance to chat with Lisa on her entrepreneurial roots, the trends she believes will impact benefit corporations, and why her next step forward involves education on stakeholder networks.

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The Evolution of an Entity: A Closer Look at Benefit Corporations (Infographic)

Our blog has taken a turn for the Benefit Corporation lately, inspired by the momentum started by B Lab, the founders behind the movement, and this month we’ve created an infographic on how this fairly new entity has been taking the nation by storm. 20 states, along with Washington D.C., have passed Benefit Corporation legislature and our infographic goes in depth to discuss the growth of the B-Corp to come, a look at a few famous companies that you might not know are B-Corps, and a timeline that looks into how long it took states like California, Maryland, and Delaware to enact Benefit Corporation legislation.

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