Social Venture Success: On Stance, Story and Strategy

Everybody has a story. Throughout my 20s, I was a workaholic. I was never present, and my dream was to sell my business. It wasn’t until I achieved my goal and made lots of money that I realized that this kind of success didn’t make me happy. In fact, it made me miserable.

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This experience – and hiring an amazing business coach – helped me figure out what I wanted my new story to be. I wanted to love what I did for a living, and I wanted to help others do the same.

This was the spark that ignited my business’s unique movement, which is exactly what your startup needs for runaway success.

Plus, having a deeper meaning also appeals to consumers: People want to buy from companies with a purpose they can rally behind. In fact, with price and quality being equal, 91 percent of consumers would switch to a brand associated with a good cause, according to a 2013 report conducted by Cone Communications/Echo Global CSR.

If TOMS founder Blake Mycoskie had simply tried to start a shoe company, he might have failed miserably. Instead, he decided to donate a pair of shoes to a child in need for every pair sold and customers rallied behind the cause. Now the company has expanded its offerings to include eyewear and coffee.

When you build a movement around your startup, it leads to a legacy that’s much more meaningful than any amount of money. And to create a movement, you need to uncover your 3S’s: your story, your stance and your strategy.

Source: Entrepreneur.com

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