What it Means to be an Impact-Driven Business

Every business wants to change the world – but what does it mean to focus your entire business on making an impact?

 

Knowing your purpose

Every impact-driven business stems from its founder’s personal passions and concerns  – an ongoing thought that pushes them into action through business. Regardless of your business type, you’re likely to have identified the purpose of your operations, and the long-term goals and effects you want to have on your target audience.

 

Knowing your process

Do you exist to raise funds, awareness, or something else entirely?

Many NFP’s and charities operate to bring awareness and put a spotlight on issues or often-neglected causes, with fundraising existing as a side-endeavour. Some, such as She’s a Crowd, focus on collating data to help make political change a possibility and give voices to individual stories.

An impact-driven business’ identity needs strong pillars to succeed in its mission of making a difference in the world.
Read more: Making an Impact with Zoë Condliffe

 

Knowing your survival plan

What does your business need to survive and thrive?

Most organisations need income and a strong financial plan to be viable long-term. This can involve community fundraising, government grants, merchandise and product creation, or financial stakeholders – the world really is your oyster!

Thinking outside the box and having SMART goals for your organisation lets you strive for targets and gives you freedom and brain-space to plan for the future and continue to grow your impact in whatever area you’re focusing on.

 

Find the right community for you

Running an impact-driven organisation can sometimes feel daunting and difficult, but being part of a supportive and similarly-aligned community can change all of this for the better.

Whether you find your space in an online community, event group, or a coworking space, don’t be afraid to be an active part of it and support others in the community as well as feeling safe to ask for support when you need it too.

Read more: What is Coworking and Why Should I Care?

Live your vision

It doesn’t need to be said that a founder should live the values their business strives for.

When it comes time for you to grow, selecting people who truly believe in your vision and cause is imperative – it’s not about what’s on someone’s CV (although their skills are important!), but their commitment to your business and goals will be what makes them a true asset.

Read more: Making an Impact with The Wateryard

If you’re wanting to learn how to be a more impact-driven business, follow us on Facebook and keep visiting our blog across February as we share more impact tips and stories from our amazing members.

Hub Australia

Hub Australia supports growing businesses and not-for-profits as part of their thriving coworking community. To find out more about our great impact initiatives, visit our impact page.