Back to basics or time to reinvent the wheel?

When I was a child, I could always see the opportunity and not the pitfalls of innovative ideas, for example, flying cars were THE BEST idea and why couldn’t we all have one! I also couldn’t see why all cars didn’t have rubber bumpers, so that if anyone had a little knock in their car it wasn’t a cause for an insurance claim – they would simply bounce off each other leaving no damage. My Dad told me that the insurance company would soon be out of business, and he couldn’t convince me that was a bad thing. I still hate the idea of people profiting out of others misfortune.

As the world revolves so innovators and inventors continue to bring great new ideas to the market – and some, not so great ideas. I heard yesterday that there is a company who will supply you with just one ingredient within 10 minutes of you requesting it. So, for example if you are baking a cake and have run out of self-raising flour, they will get it to you in time for you to continue baking your Victoria sponge. Whilst I admire their anticipation for a gap in the market, I really hope our need for convenience doesn’t stretch this far. I see this as an example of a world gone mad! I can imagine what my Nan would have said, having lived through rationing. And I agree with her!

That to one side, we have never been better positioned to bring new opportunities to the marketplace. Technology allows everyone to let their imagination go crazy – holidays in space anyone? What I love about this is that many innovators are also using their business for good. In other words, it is not merely a vehicle to raise money for profit, but is also focused on helping others, as they grow. The pizza place that helps feed the homeless, the shoe company that pledges to send shoes to those in need, the clothing company that recycles and pledges to do their bit to reduce plastic in the ocean. We all get a feel-good moment when we purchase from these types of companies. It means that, in some small way, we are doing our bit too.

The opposite happens when we purchase from a big conglomerate. I find no joy in purchasing from Amazon, when it appears their record for employee conditions is still appallingly low. I would rather get my purchase in a week instead of tomorrow and buy from a smaller company who are taking their responsibilities seriously. Yes, even if it means paying a bit more. I, and we, have more power than we realise.

Understanding that our responsibility lies with supporting each other and not lining the pockets of the fat cats means that collectively we can make our objections heard.

Have you come across B Corporations yet?

This is an amazing accreditation that acknowledges companies who are ticking boxes for sustainability, looking after their staff, and their customers. Putting people before profit at every level. I believe I can spot a B Corp company just walking through the door – online or off, they stand out from the rest. B Corp is a certification that is awarded to organisations using business as a force for good.

Another initiative to demonstrate that your business is focused on making a difference is B1G1, a charity that has a brilliant model whereby they can ensure 100% of donations go to the chosen charities and the positive impacts are recorded in real time. Our community at Collaboration Global are members of this fabulous organisation and we are registered Champions who support the growth of the organisation. You can find out more on our website collaborationglobal.org.

I think this is the future of business. People have come to realise in the last few years what is truly important in our world. Whether it is climate change, over consumption, plastic pollution or more, the common denominator is us – humanity are the cause, and humanity are suffering the results of our rapidly changing lifestyles. Creating a business for good is one solution to make a dent in this global problem. Remember: no one is coming to save us.

The old way of doing business no longer fits the purpose of the world we live in. We do not have to work to quarterly goals that pursue ever increasing turnover and production to be considered viable. Shareholders are not the gods they once were. It appears that small business owners are reinventing what it means to do business. The time is ripe for change, we can revert to the old ways of putting the customer first, whilst at the same time keeping an eye on how we can make a difference in a wider context.

Business is no longer a straightforward practical price choice for customers. Emotions play a large part in the decision process too. Marketing has now become about demonstrating to your audience that you are an ethically sound, environmentally aware business, and that they can purchase from you with confidence. Utilising something like the B Corp certification takes out some of the guesswork, knowing that a third party has done some checking on our behalf.

If anyone wants to start a new business, how about an app, that we just feed in the name of the company we are about to purchase from, and it tells us their environmental footprint and ethical standpoint. I think many people would pay an annual membership to have that information at their fingertips. The power of choice! Things are moving so fast! It is not only what and who we purchase from that is changing – (Idaho potato with your face on, anyone?) but also how we buy our goods and services. Cash is being used less and less. I don’t know many 30-year-olds who carry cash with them anymore, they can’t see the point. Take that to the next stage and I imagine within the next five years it will be practically defunct. Next of course is the crypto currency revolution with El Salvador recently being the first country to use Bitcoin as legal tender. This will bring problems we cannot even imagine as unregulated currencies hit our communities.

However, people are now more awake, making empowered choices no matter what currency they choose. Acknowledging our power and acting positively, utilising collaborations, we will be able to create massive positive impacts. Imagine: if we learn a corporation wasn’t paying its taxes, do you think it would be possible to unilaterally boycott that company until it does? 24 hours without one purchase going through the tills, might give it a shock to do the right thing? Just a thought…

I also think we don’t need to reinvent the wheel and perhaps go back to traditional skills, craftsman creating beautiful longlasting furniture that can be passed to the next generation, that would encourage a new type of business. The Victorians were inventors and masters of beautiful architecture, is it time to slow down and appreciate the beauty that we can create? Perhaps for such beauty it is worth paying more, knowing a craftsman has taken their time to produce something of beauty that transcends time and fashion. Our world is struggling to see what is truly valuable.

Banksy perfectly illustrates the absurdity of vast amounts of money being paid for a piece of art when he shredded his piece immediately after it was bought for £1.4 million. Then ironically it was considered even more valuable. Digital art is now highly valued too. The person who can predict the next big thing will make money instantly and then will need to get out before the bubble bursts.

No matter what your business does, I hope you have a business for good. And that it will stand the test of time.

Email: gill@collaborationglobal.org Telephone: 07798 601701 Website: www.collaborationglobal.org