This is the free version of Trends PRO #0020 B Corps
Most businesses put financial profit above all else.
B Corps consider social and environmental impact as well as financial profit.
They rely on a triple bottom line that accounts for the planet, people and profit. Known as the 3Ps.
A global nonprofit that serves a movement of people using business as a force for good. B Lab issues B Corp certifications, administers impact management programs and advocates for governance structures like the benefit corporation.
A for-profit corporation that meets social, environmental, transparency and accountability standards set by the B Lab. B Corps must re-certify every three years to maintain their status and pay an annual fee ranging from $500 to $50,000, depending on annual sales. There are over 3,300 certified B Corps in 71 countries.
Not to be confused with B Corp certification. This legal designation commits companies to higher standards of purpose, accountability and transparency. This protects a company’s mission through capital raises and leadership changes. It creates flexibility when evaluating potential sale or liquidity options and prepares businesses to lead a mission-driven life post-IPO. Seems unnecessary? See why Ben & Jerry’s was forced to take an offer and sell the company.
- Alter Eco
- Ben & Jerry’s
- Luke’s Lobster
- New Belgium Brewery
B Corp Founders
- Jasmine Crowe
- Yancey Strickler
- Brad Feld
- Ben Cohen
- Shai Wininger
- Daniel Schreiber
- Dave Kirkpatrick
- Tripp Baird
- Davis Smith
- Todd Lewis
- B Corps will use their status to attract talent. The B Corp and Open Startup movements double as marketing campaigns to attract customers and employees.
- Lots of B2C companies will seek B Corp certifications. Consumer brands can weave this into storytelling for higher margins in price-elastic markets.
- Build a list or directory of B Corps. The current directory is slow with limited filtering options.
- Make a niche job board to help B Corps that are hiring. Use job listings from another site and merge based on company names.
- Aggregate a list of deals for B Corps. Companies, such as Manoverboard, have exclusive discounts aimed at B Corps.
- Create a newsletter to share the stories behind newly certified B Corps. The B Lab directory lets you sort by certification date.
“How the hell is Ben & Jerry’s a B Corp? Or New Belgium Brewery?”
It’s beer and ice cream… Sure. Would it be better if they weren’t B Corps? Other companies do less to address social and environmental issues. Plus… We need some fun. Loosen up.
- A Refugee Workforce: The Secret to Solving the U.S. Labor Shortage — Chris Chancey solves the need for talent while helping refugees.
- How To Build a Social Enterprise in Tours and Activities — Zakia Moulaoui came up with a way to address homelessness and aid tourism.
- Making a Sustainable Difference — Sasha Kramer transitioned SOIL from non-profit to for-profit to make the mission sustainable. She shares valuable insights into human nature and managing incentives.
- How to B a Force for Good — Anthea Kelsick talks about the importance of systems change and how companies use their B Corp status as a marketing tool.
- What we’re getting wrong in the fight to end hunger — Jasmine Crowe explains why logistics, not scarcity, is at the root of global hunger. Similar to B Lab, she takes a systems change approach with Goodr.
- Bill Gates on Advice For Founders, Mistakes, and Philanthropy — Bill Gates talks about measuring profit in terms of lives saved instead of profit gained.
- Why It’s Time to Re-Evaluate the Economy — Yancey Strickler shares the concept of Bentoism and the story behind Kickstarter becoming a benefit corporation.
- From Nonprofit to Social Enterprise: Insights & Lessons Learned on a 15 Year Entrepreneurial Journey — Rahama Wright talks about the ups and downs of entrepreneurship. She’s a great storyteller.