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HBO and The Ringer's Bill Simmons hosts the most downloaded sports podcast of all time, with a rotating crew of celebrities, athletes, and media staples, as well as mainstays like Cousin Sal, Joe House, and a slew of other friends and family members who always happen to be suspiciously available.
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In this episode, host Molly Beyer explores the reality that impact and income can be partners and not opposing forces. It can be a struggle for heart-led business owners to reconcile doing well financially with doing good through their work. Molly explains how you can still do good while doing well. When done intentionally, impact and income can and should co-exist to strengthen each other.
The purpose of a business should guide business decisions, both in how money is earned and how the business presents itself in the world. Molly describes how knowing the why of a business becomes a compass we can use to build meaning around margins and efficiency. Impact becomes part of the business model. Molly uses examples such as Toms Shoes building an entire business around the idea of buy one, give one, or Patagonia’s outdoor clothing and gear model, which also invests in worker wellbeing and environmental activism.
Molly talks about how to match the impact to income models, how to bake company values right into the business, and explains why services help both clients and employees. Setting dual goals helps the business work towards both financial targets and impact metrics that track the social changes desired. She talks about SROI, Social Return On Investment tools, and how aligning business with purpose lets us think differently about innovation. Molly advises letting clients, collaborators, and the community understand the mission so everyone becomes part of it.
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