While pursuing a master’s in Innovation management and entrepreneurship, in one of my classes I’ve come across the topic- “Social entrepreneurship”. This chapter and subsequently a book called “Small is beautiful” (Economics as if people mattered) by E.F. Schumacher have served as an impetus for me to research Social Enterprises and their impact on the Globe.
Why do we need Mindful Startups?
The adverse ecological implications of today’s big corporates need no introduction. Top companies across all industries have been part of controversies involving Ecological or Humanitarian violations. It goes without saying that these companies were all once budding startups.
“Catch them young!”
Recognizing that today’s startups are going play a huge role in the future, it’s imperative to setup a strong Triple bottom line culture right from the fledgling stage of our Startups.
What’s a triple-bottom-line culture?
The Triple bottom line, is an evolved state from the traditional “bottom line or goal” of a company, which more often than not is “PROFIT”.
Your company’s TBL should be, Profits, People, and the Planet.
What’s a mindful startup?
A mindful human being is the one who is always aware of his/her thoughts, actions, and their implications on self and rest of the world. The same applies to a mindful start-up as well! Always keeping the triple bottom line goal in mind, all day-to-day actions need to be aligned in order to better serve the stakeholders and the community as a whole.
How do you become a mindful startup?
Today, as entrepreneurs, if we really want to bring about a future that’s not only prosperous but also safe and sustainable, we need to enquire right now into how can our products and services bring about such a future? But first we should realize how deeply interconnected each of us are with the rest of the UNIVERSE.
Line of inquiry
Can my company and I really operate without mutual cooperation internally and externally from rest of the society/environment?
- How can I make the company’s day to day operations more environmental friendly?
- How do I reduce wastage?
- How should I treat my colleagues? Are they separate from me?
- How do I make my work environment inclusive for people of all kinds?
Ultimately we need our startups and companies to foster a culture that aligns with the evolution of the planet as a whole.
Here are a few Best Practices to start with but not limited to
- Defining company’s goal/vision that aligns with the Triple bottom line.
- Inclusivity (irrespective of age, gender, sexuality etc..).
- Participation in local welfare events.
- Reducing Non-biodegradable waste.
- Conducting Field-Trips, Yoga sessions, talks and other activities that promote health and knowledge.
Examples of some Mindful startups/businesses
- Happy roots, India.
- Toms Shoes, USA.
- Mountain Hazelnuts, Bhutan.
- The Better India
- Scott Bader Common Wealth limited, UK.
There are many more companies and startups that are doing amazing job at integrating the triple bottom goals all around the world, I suggest to keep an eye out to learn about such startups for inspiration!
That’s very essential at least for the current situation. It is best to start mindful startup as you suggested, but if for whatever reason one could not follow that, then he must do something for the society for the betterment of the society from his profit, as the law says.
Agreed Mr. Madhusudan. People who are already running their own businesses can also transform into building mindful businesses. Definitely, charity (from profit) is one of the things but there can also be much simpler yet important things he/she can do, such as reducing carbon footprint by encouraging sustainable practices, mindful usage of plastic and the non-biodegrabales, promoting healthy relationship among all the stakeholders, fair payment of wages etc.. which are all non-quantifiable parts of running a mindful business! Easy said than done but definitely rewarding :)
A very fair point Jayasurya – I do think there are a lot of measures one can start focusing on when building enterprises. This post touches a very relevant and impactful point about creating startups for a purpose and making a difference. Social impact is at the heart of an idea which can start taking things forward and creating inclusive progress. There are numerous ways of making this happen. of course it all starts with a single step and no greater choice than starting a business with one such purpose.
I agree Madhusudhan, the point tailors closely around the corporate social responsibility factor for large companies as well. In some areas they have done some really good work such as providing electricity, road infrastructure etc. In addition there is a huge boost in some large corporates sponsoring startups to do social ventures which aid towards their CSR. For a social commercial venture, I believe that can provide a considerable boost for young startups to generate impactful ideas that can start making a difference.