Our Decision to Become a Social Enterprise
Written by Justin Chan, Founder of The Community Company. Published on January 25, 2021.
7 Minute Read.
It used to be that for-profit businesses and non-profit organizations had their place: one was to make money and the other existed to make an impact.
But have you noticed how more businesses have added some element of social impact to their work?
Our capitalistic system has its values: it provides consumers with choices and catapults innovative ideas into successful businesses. But on the flip side of that is a system that aims to maximize profits without a legal requirement to care for the well-being of society as a whole.
We care more about social goals and causes: the environment, low-income communities, racial justice, etc. We’re now challenging the businesses that we support and asking them how they are making a difference in the world.
While businesses are now evolving to include some social benefit, this traditional capitalism model is flawed because it’s fundamental objective is still to create the most profit possible for its shareholders.
Replacing Business with Social Enterprise
I was recently reading this book called The Business of Good. There’s a part that draws attention to this transition from traditional entrepreneurs to social entrepreneurs. The key difference between the two is in the why. Traditional entrepreneurs are focused on profit, while social entrepreneurs are motivated to solve a social problem.
Capitalism may be the default, but there’s a shared exhaustion with its unsustainable, materialistic and exploitative outcomes. Social entrepreneurs are challenging the traditional capitalism model by putting social impact first, and writing it into their business constitution.
They are forcing the traditional capitalistic businesses to add more value, while simultaneously creating a whole new category of business: the social business.
“Social entrepreneurs are not content just to give a fish or teach how to fish. They will not rest until they have revolutionized the fishing industry.”
The Lightbulb Moment
My social entrepreneurship journey started while I was working in Toronto on an internship. I impressed the team in my interview and I landed my dream job at a prestigious firm on Bay Street.
I got that job because of the leadership experiences I had in school, because of the mentors that supported me along the way, and because of my past work experiences that allowed me to grow.
Throughout my personal development journey, the common theme was that people took a chance on me. And those chances led me into the interview room of my dream job.
I genuinely believe that there are thousands of community members out there who would have thrived if given the same opportunities I had. I grew because of my privilege.
My lightbulb moment was realizing I could provide those same growth opportunities for others.
“We are an organization that provides people an opportunity to inspire our community and to create a product that starts a conversation.”
A Cycle of Growth
Nothing beats that sense of self-worth or feeling proud of your accomplishments. It becomes this amazing positive feedback loop that encourages you to grow even more.
What I realized through building relationships with community members is that some people don’t even get a chance to begin growing.
Think about it: If someone overcoming homelessness wanted to grow and find opportunities to develop themselves, what can they do? How many barriers stand in the way? How often would they get rejected?
My fundamental belief is that everyone should have a meaningful opportunity to grow should they want to, regardless of their life situation.
I want to use business as a platform to help others feel that sense of self-worth and purpose, similar to that feeling I had when I was on my internship in Toronto.
“Providing others an opportunity to begin a cycle of growth is the social cause that I have decided to dedicate my life to.”
Money is Not our End Goal
The Community Company is a cause-driven business where the primary reason for existing is to solve a specific social issue.
Like many people in my generation, I am less concerned with making money and more inspired to make a difference. While I do want to earn a comfortable living eventually, it is just as important to me to do purposeful work.
Through a Cycle of Growth model, The Community Company inherently believes in people’s value and potential. We cultivate relationships with individuals that are overcoming adversity and provide them a platform to inspire the world.
Then they’re given a chance to make an impact and grow. Similar to an employer asking an intern: “Where do you see yourself? Where do you want to go?”, the goals of our Creators become a priority and their creativity takes centre-stage.
While money is a goal post, it is not our end goal.
“The Community Company is so easy to work with. They make you feel like a person. They make you feel like a somebody. We’re hanging out, enjoying life together, all while creating a product that is meaningful.”
Our Success as a Social Enterprise
It warms my heart when Creators ask if they can put this experience on their resume or ask me to be a reference. Because it means that they’ve gained a feeling of accomplishment.
Sure they made money as part of this partnership, but it’s that sense of self-worth that’s irreplaceable. And they’re not just volunteering. They’re contributing to the growth of a real business as a partner.
This is what makes The Community Company successful. Customers see the meaning and story behind the product and want to support it.
Our success has proven that our community cares about meaningfully supporting one another. More people are buying Christmas cards from us every year and that’s less money going towards big-box stores.
It’s these incremental shifts that give me hope in the sustainability of social enterprises. And it’s social enterprises that are going to revolutionize our communities.
The Community Blog
The purpose of our blog is to share knowledge, resources, and perspectives on the social causes that are important to our community. Blogs are written by subject-matter experts, including individuals with lived experience, academics, as well as those who work in the field.
Co-Founder Opportunity
Before you go, I wanted to share with you that The Community Company is looking for a Co-Founder to join our team!
We are looking for a candidate that has strong initiative, a creative spark, and an all-in mindset when it comes to helping us achieve our vision.
The successful candidate will help us grow our brand presence and own our marketing and social media strategies for 2021 and beyond.
You can see the full posting by clicking the button below!