The example above shows how good profit drivers can boost your company growth, by cutting out unnecessary costs, offering a strong value proposition, operating effectively and efficiently, and delivering impact to the customer.
That’s genius, right? Indeed, research from Harvard has shown that what makes a genius is the ability to find unity in opposites. Likewise, Aristotle said that virtue lies in balancing two opposite views. Balancing justice with profit drivers is the combination and balance you’ll want to pursue.
Let’s see what that looks like in practice. Taking the example of homelessness, you can do three things:
- Set up a charity restaurant, giving people food one plate at a time.
- Set up a Homeless Street Magazine and sell it. This allows people to provide for themselves, putting food on the table and bettering their health.
- Or you could create opportunities aligned with market demand: products that people will want to buy, built on the right philosophy of justice.
An example is Brigade, a London-based restaurant training homeless people to give them new skills, offering them employment and connecting with other organizations to help them do the same. This enables them to earn a fair wage, put food on the table, better their health, create more equality… In short, the impact goes a lot further.
Research shows that companies that do this have 300-400% more impact, and have a much stronger commercial platform.