Social Entrepreneurial Partners
We tend to think of social entrepreneurial companies as separate from more traditional corporations. Social entrepreneurial companies focus on pushing social change, while other companies are in business to make a profit and return value for stakeholders. In our research, we have found this is not always the case. Sometimes a social entrepreneurial company will partner with a more traditional company. Both organizations benefit from this arrangement.
In this model, the two companies do not even have to be in the same sector or provide the same services. Take the example of JetBlue and Hot Bread. JetBlue is an airline that disrupted an entire industry and continues to thrive today. Hot Bread, as we have learned, distinguishes itself by being half social enterprise and half regular company. Hot Bread is a bakery that employs foreign born women and women of color. CEO Jessamyn Rodriguez empowers women to learn baking skills and design their own breads. The sale of the bread funds the training program. This is how Hot Bread prepares women to hold management positions or launch their own baking companies.
Bringing it Together
By now, you may be thinking- what on earth does all this have to do with JetBlue? The answer is that JetBlue, at its heart, is a startup. The company saw a need for change in the airline industry, and its founders developed a plan to fill that need. JetBlue’s leadership is committed to help other startups by mentoring them. In working with Hot Bread, JetBlue teaches Rodriguez how to scale her business and empower even more women. In return, Hot Bread teaches JetBlue learns ways to empower people with their own purpose. The company founded its JetBlue foundation to help train young people for future careers in aviation. Both companies build purpose through the relationship, while those participating in the programs are able to uplift their lives and find their own purpose.
Nothing in Common?
Two companies with nothing in common have come together to define and expand on their purpose. Other companies, including yours, can follow this example and reach out to each other. The company you partner with may not even be in the same sector or industry. You may find yourself learning even more valuable lessons this way. Be sure to check out Graeme’s Red Goldfish book and explore the training videos and other resources available on the 602 website. Watch the video above for more information.
Let Graeme Newell show you how to build and implement a purpose-driven strategy for your business.