New ways to codify purpose
And then what happens?
Many small businesses start with generosity and good intent at their core. But it’s a rough ride, and especially when outside funding is involved, it’s easy to get seduced by the bright lights of Milton Friedman and an obsession with short-term profits.
Over time, purpose starts to fade. The urgencies and demands of quarterly results, the opportunities for growth followed by more growth make it every more difficult to stick with what we set out to do in the first place.
This post from Ari Weinzweig highlights a different way to stay on track, adding a level of structure to the good intent. It takes the sometimes mushy language of a B Corp and makes it legally and permanently part of the deal.