(Photo: From a recent trip to Thailand)
Profitable Impact Business
I’ve joked for the last two years that I wish I could work on Impact Club full time. It provides me such a jolt of joy and purpose. But Impact Club doesn’t make money; it’s a passion project.
That passion project has produced over $150,000 in donations to our community.
[Insert fist pump] – Which is what I always do when I say that.
But I have to be profitable in my other endeavors to afford to operate an Impact Club.
In fact, this is true for ANY business owner or entrepreneur who has the passion to give back and support the community they serve. THEY HAVE TO BE PROFITABLE, so they can be in a position to give, to donate, to support, to survive.
A business owner or company can have a great culture of giving, but if they have a bad quarter, then the first thing to get cut is the charitable giving, as the owners become increasingly concerned about making payroll and stressed about the lack of cash to pay all their bills.
Every community has great problems and challenges they are trying to solve.
The business community is a fantastic resource to help solve those problems, but only if they are profitable, and sadly most business owners I know are one bad quarter away from total meltdown.
I see this a lot in my Real Estate business. I coach and mentor other agents about how to grow their businesses. There are thousands of ways to do this, and I enjoy this riddle of trying to figure out the best path for every unique agent with whom I speak.
But I’ve been too slow to fully understand how important it is to focus on profit-first business practices.
Rather, my philosophy has always been impact-first. Which looks a lot like this:
“Give. Give some more. Keep giving and eventually that giving will come back around to you in spades.”
For the record, this is a great philosophy and it works very well. But if not managed correctly, it is also a recipe for putting many promising entrepreneurs out-of-business.
It’s crystal clear to me now that profits have to be and remain the center focus of any business that wishes to be impactful to their community.
Businesses mostly depend on a strategy of
“if we are more profitable, we’ll give more.”
But something amazing happens when they change their strategy to
“we’ll give, because we know we’ll be profitable.”
My friend Ryan Fletcher coined the term “Profitable Impact Business” to describe a business that aims to positively impact the lives of their customers and the community they serve.
It’s by no accident that he put “profitable” in that description. Cash is oxygen for businesses. So even with the best intentions, businesses suffocate from the lack of oxygen.
Which is why I love the term “Profitable Impact Business.”
It describes their necessity and intent.
It’s yin and yang.
One without the other puts everything out of whack.
Impact Club has shown me what is possible, but also that I haven’t been thinking big enough.
I need to go ALL IN on my passion projects.
My passion, my purpose, is finally (thank goodness) extremely clear to me.
I feel like the last 40+ years have shaped me and prepared me for the position I am in right now.
I’m launching (with the help of some amazing people) a NEW passion project.
It’s centered around “growth through giving” and helping business owners be more profitable so they can become and stay a “Profitable Impact Business.”
IMPACT CLUB is focused on giving everyday people a fun way to deliver massive impact to their community.
My new venture, called PARTNERS IN SHARING, will focus on giving business owners additional paths to profitability so they can deliver massive impact to their community.
More details coming soon, but right now I’m on the hunt to find business owners who desire to be “more profitable” and “more impactful” here in the Treasure Valley.
If that describes you, then I want to talk to you.
[Call or Email Me…Seriously]
If you know a business owner who you think would be keen to see what I have in the works, I want to talk to them. [Call or Email Me]
I’ve been working on this project in the wee hours of the night and before dawn for quite some time. Strategizing, plotting, and building infrastructure with my team to get it ready.
I’M ALL IN, and I’ve never been more excited about a project.
Luckily, my wife loves the project as well, and not only is understanding with the late nights and early mornings, but is part of the amazing team we have working on this impact venture.
So, there you have it. I’m all in on this, and it feels amazing.