What is profit with a purpose? A brand or organisation that creates profit with a purpose is able to make a profit, but furthering that are able to use the profits to benefit others. Examples of brands that make profit with a purpose are….
TOMs are a brand that creates profit with a purpose not only are they a successful business. For every pair of shoes purchased another is given to someone who has no shoes. TOM’s profit with purpose also known as the one for one model allows them to do this with every product they produce e.g. sunglasses, bags, glasses and even the founders book!
Another example of a brand that makes profit with a purpose is Virgin Group.
Virgin employs over 50,000 people globally and operates in more than 50 countries. They continue to leverage their brand through their 53m customers and 20m social media followers. Why are they a brand that creates profit with a purpose?
They create profit with a purpose by sticking to their business aim “Unite great people and entrepreneurial ideas to reinvent how we live and work in the world to help make people’s lives better.” Virgin stick to this aim and have created Virgin Unite as a result, the entrepreneurial foundation of the Virgin Group
The last example I’m going to touch on is Lego. Lego pride themselves and make it their mission to inspire and develop the builders of tomorrow, enabling children to learn through play.
“We’re here to inspire and develop the builders of tomorrow” – @LEGO_Group
“Through a series of global initiatives, the LEGO Group, the LEGO Foundation and LEGO Education have actively supported children’s right to grow, and we continue to contribute to raise the quality of education by implementing innovative and hands-on teaching methods in schools around the world.”
Therefore making Lego a brand that makes profit with purpose, it is furthermore making them a significant brand.
My understanding of brands and organisations that make profit with a purpose comes from my friend, inspiration and mentor Jeremy Waite and his brilliant book #significantbrands. (Take a read I promise it will be worth it!)
Jeremy’s brilliant book even creates profit with purpose. For every book sold the money goes to code.org helping kids to learn how to code.
Thought provoking isn’t it…now it’s time to think does the brand you work for create profit with purpose? Are they a significant brand?
Originally written – 2015 – https://storify.com/BeckyBlackmore2/brands-don-t-simply-succeed-create-profit-with-a-p/preview
Lego Images: https://www.instagram.com/lego/