Growing Your Business

Three bottom lines for your small business

by Fraser Doherty

For most companies, making a massive heap of money is the only objective.  Especially in a big company, the only voice that management listens to is that of its shareholders.  But, as I have written about in some of my other articles, there is an increasing list of companies that think about business in terms of a much bigger picture.  

Companies like The Body Shop, Ben & Jerry’s and Patagonia have not only had massive commercial success, but have also had a massive impact on society, the environment and the development of their own people.  They make great products that millions of people want to buy, create a great place to work and do everything they can to limit their impact on the environment.  In some cases, they also invest some of the energy and resources into social causes that are close to their heart.

These are companies that use more metrics than just profit to measure their success - some speak of having ‘three bottom lines’ and take each just as seriously as the other.  

Profits

There is no doubt that even the most ethically minded businesses should strive to make profits.  They should create products that people want to buy, that are competitive and that generate enough profits that they can invest in growing their business and, hopefully, leave enough left over for the company to invest in its people and in social and environmental issues that they feel strongly about.  

Impact on your people

Probably the greatest opportunity to make your company more successful is to create an environment where your team is really passionate about the business.  If the people working in your business really believe in where you’re trying to go and if they love the products, then chances are they will do a great job of coming up with new ideas, of finding new customers and will no doubt go the extra mile to help the company succeed.  

Social and environmental sustainability

Every business has an environmental impact - some bigger than others.  There will always be an opportunity to reduce the impact you have on the planet - through designing your packaging better, by buying renewable energy or by sourcing from more local suppliers.  The great thing about being ‘green’ is that it usually comes hand in hand with the opportunity to reduce costs.  

For me, the most exciting way for a business to have an impact on the world is through social projects and charity work.  In SuperJam’s case, we have invested profits in running hundreds of free tea parties for elderly people around the UK - some of the biggest parties have attracted over 500 guests from care homes and who live alone.  For me and the rest of the SuperJam team, being able to do charity work on a big scale has given our business a whole new meaning.  SuperJam isn’t just about selling jars of jam - it’s about something so much bigger.

For any business, there’s a big opportunity to give something back to your community.  Not only does it feel good, but your team and your customers will love you for it.  

In my mind, it is a great idea to make all of the goals of your business as measurable as possible.  Profit is easy but the other objectives need to be spelled out a bit more clearly - maybe you commit to giving a certain amount to your favourite charity or perhaps you want to reduce the amount of rubbish you send to landfill.  Set a goal every year and, when you achieve it, it will feel great for you and your team.