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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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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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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B Corp Experts Weigh In: Q&A with Timothy McCausland

Timothy S. McCausland, Senior Vice President & Chief Strategy Officer at Orange County Trust Company

In 2010, with over 25 years working in transactional matters involving real estate, trusts and estates, commercial matters and finance, attorney Timothy S. McCausland began investigating the growing trend of states adopting benefit corporation legislation. The B-Corps won McCausland over, especially since at the time he resided within a more rural part of New York and felt that the B-Corp would be a great fit for his region. By working alongside a colleague and friend, Gary Schuster, and familiarizing his state legislators with benefit corporations, the pair was able to push for the legislation and ultimately, for benefit corporation legislation to be passed in New York.

Today, we’re interviewing Timothy, currently serving as the Senior Vice President for Orange County Trust Company, on where he thinks B-Corps are heading, the benefits of going B-Corp for your business, and why once the switch is on for setting up a B-Corp, it can’t be switched so easily back off.

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5 Questions with B-Corp Innovator Tim Frick

Tim Frick, Principal at Mightybytes

For Tim Frick and the team at Mightybytes, sustainability means more than trending on a Google search – it’s how they do business. A full-service creative firm for conscious companies in Chicago, Mightybytes provides branding, content strategy, and web based services to its clients along with being a certified B Corporation. They’re passionate about making a social impact with their work to make the world a better place, even if it happens, “just one small pixel at a time.”

We asked Tim five questions on his business and he gave us some pretty amazing answers on how he left corporate America behind for the entrepreneurial lifestyle, the bootstrapped beginnings of the company, and how in order to be an entrepreneur you need to walk the walk.

1) How did your business get started?

After a brief career in corporate America I started freelancing in 1995, which eventually evolved into what is now Mightybytes. The freelance lifestyle was attractive to me due to the freedom it offered and the DIY philosophy of being an entrepreneur. Quality of life and doing impactful, cause-driven work I can be proud of is at the core of who I am as a person. We imbue those principles into all we do at Mightybytes.

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