Brian and Patrick discuss the importance of prioritizing a business’s financial stability before diving into social responsibility initiatives. They express concern over the increasing trend of start-ups focusing too heavily on a social mission before establishing a solid business foundation. Using the state of Rhode Island as an example, they illustrate the pitfalls of every new business wanting to be a non-profit, which becomes unsustainable due to limited financial resources. They emphasize the need for businesses to first generate profits and become self-sustaining. This ensures they can then meaningfully contribute to social causes without compromising their financial health.
Blunt Force Facts:
- You can’t feed the hungry if there’s no food on your table.
- Real change costs real money.
- Profit and purpose are pals; they can coexist without one compromising the other.