How is a Purpose Led Business Different From a Business?
In 2025 Positive Impact Events, the not for profit for which I am CEO, will be 20 years old.
Positive Impact was launched to address the need to ‘drive industry change’ (one of the 3 benefits of purpose driven companies according to Harvard Business School Online). The environment at that time was less alert to purpose led business (as oppose to the many articles written on purpose led business now. For example:
https://www.linkedin.com/pulse/why-do-purpose-driven-companies-better-peter-fisk/
Having lived through the experience of creating and running a purpose led business I appreciate the increasing amount of these articles, normalising what a purposeful business is. Back in 2005 I don’t think there was much ‘terminology’ or research to back up the approach I found myself taking. In fact I don’t remember knowing I was taking a specific approach but there was one action which even today reminds me of the fact that I am CEO of a purpose led business.
That action is:
‘Saying no to a piece of business’
A purpose led business is a business like all others, meaning there are wages and bills to pay and cashflow always has to be a priority. Paying the bills is always a valid justification for accepting work projects, however usually a higher priority in my decision making is the question:
‘Will this piece of business have a Positive Impact?’
Sometimes having a positive impact means doing things differently, creating an example of a new approach or just demonstrating things can be done in another way.
Over the history of Positive Impact there have been many moments where clients/potential clients have asked for something that would only maintain the status quo of a current situation.
For example a significant global event which asked we ‘make it zero plastic’( We responded that goal could be achieved by ‘standing at the door and making sure no plastic entered the room’)
In those moments Positive Impact suggested approaches that would make a difference (eg creating a toolkit to share with attendees so they are able to address plastic waste in the supply chain) and when the client said no we choose to miss out on a piece of business and prioritise our purpose.
Finding a balance in generating income and advancing purpose continues to be a journey of discovery and I am constantly inspired by the increasing numbers who choose to spend their money in a way that will make a difference. It is now starting to feel like a tipping point where it is no longer a case where I (the CEO of a purposeful business) need to be saying no to business because there are enough customers choosing to spend their money with purposeful businesses (and if this includes you and you are keen to learn about setting sustainability strategies for events and gaining Continuing Professional Development education credits here is a shameless plug for Positive Impact’s eduction which is a way you can make sure your money has an impact! Find out more here: https://www.positiveimpactevents.com/education)