Profit & Purpose: How Social Innovation Is Transforming Business for Good

Praise for Profit & Purpose "Whether you're a scrappy startup or an established Fortune 500 firm, you can reap great rewards by tapping into the power of purpose. But how do you turn purpose into profit? Kyle Westaway reveals the secrets behind the success of purpose-drive market disruptors like Method, Warby Parker, and Etsy, as well as how giants such as IBM and Nike have harnessed the power through innovative product and brand development. Profit & Purpose provides an essential roadmap for all those seeking to crush it with purpose." —Gary Vaynerchuck, CEO of VaynerMedia, New York Times bestselling author "For billions of people who live at the base of the pyramid (BoP), job opportunities and access to life-enhancing products and services are top on their list of needs they value most. Social businesses are uniquely positioned to deliver these life-enhancing essentials to those the free market has traditionally left behind. Westaway's thought-provoking book should be read by anyone who is interested in learning about how business can be harnessed as a force for good." —Jordan Kassalow, Founder, Co-Chairman, VisionSpring, on the Forbes Impact 30 List "Kyle Westaway has the unique ability to distill complex ideas into simple authentic truths, and he's created a masterful gift in Profit & Purpose ." —Adam Braun, Founder of Pencils of Promise, New York Times bestselling author

Introduction Moving Beyond Shareholder Value Moving Beyond Giving A Better Way Forward Can I Really Do Well and Do Good? How Social Enterprises Are Leading the Way What Sets These Social Enterprises Apart? Behind the Scenes Chapter 1: Discover Through Curiosity Identifying the Problem of Eyeglasses What Are the Stars Wearing? Is There a Better Way for the Glasses Industry to Operate? Recognizing the Right Problem for You The Real Challenge Was to Save Babies Success Without Purpose The Spark Had Been Ignited The Problem Comes Into Focus A New Kind of Marketplace There Was Method in Their Madness The Inspiration of a Sleepy Roadside Stand Innovation from Within The Bumpy Path to Innovation Africa’s Moonshot Key Takeaways Chapter 2: Design with Humility Bringing Brilliant Design to the Poor Letting the Users Guide You Discovering You Need to Pivot Don’t Underestimate the Challenges of Distribution You Don’t Need to be An Expert Embracing Challenges User Testing Has Many Benefits Knowing What to Outsource Finding Early Adopters Takes Work You Must Educate Customers Even the Most Positive Word Takes Time to Spread Key Takeaways Chapter 3: Build with Hustle The Intuitive Hustle The Strategic Hustle Best Laid Plans Beating the Burn Rate Simple and Sincere Can Work Wonders Key Takeaways Chapter 4: Fund through Commitment Promoting a New Version of Capitalism When Profit Trumps Purpose The Benefits of the Benefit Corporation The True Cost of Free Money Smart Crowdfunding Kickstart Follow On Funding Going to the Well Embrace 2.0 Vision Capital Not Having to Ask For Money Again Investing in the Ecosystem Key Takeaways Chapter 5: Connect with Authenticity Your Message and Promotions Must Follow From Your Values Establishing the Brand Hierarchy Give Them a Delightful Experience Reworking One For One Offer Delightful Experiences Intentional Partnerships Hit the Road Jack The Marketing Method to the Madness Don’t Talk At Your Customers, Listen to Them Building A Community Press Coverage Trumps Ads Build Momentum With a Pre–Launch Campaign Key Takeaways Chapter 6: Grow through Community Making a Mission Truly Meaningful Keeping on Top of Employee Engagement Wild Growth Keeping the Magic Alive The Limits of Hustle – Tough Decisions Selling Doesn’t Necessarily Mean Selling Out A Road–Side Startup Goes Corporate Dumpster Diving A More Sustainable Supply Chain Learning from the Big Guys Becoming More Innovative Sticking With Strengths The Challenges of A New Location Your Reputation May Proceed You, But You Need Community Support Key Takeaways Chapter 7: Scale through Community Burt’s Bees Etsy Warby Parker Method Whole Foods Maguyver Fails Acquisition Donorschoose.Org Build Scaling Key Takeaways Chapter 8: Evaluate With Honesty D–REV METHOD Donorschoose.Org Build Key Takeaways Conclusion 

Kyle Westaway is Founding Partner at Westaway & Co., an innovative Brooklyn law firm that counsels social entrepreneurs, and a Lecturer on Law at Harvard Law School, where he co-teaches a course on social entrepreneurship. He writes on social innovation, entrepreneurship and emerging markets for The Guardian, The Wall Street Journal, TIME and Quartz . He launched socentlaw.com, a blog on the legal side of social enterprise, and careerinbeta.com, a blog on the future of work. Kyle co-founded Biographe, a socially conscious fashion brand employing and empowering survivors of the commercial sex trade in Southeast Asia. He advises companies on social innovation strategy and speaks around the country on social entrepreneurship and the future of work. Kyle also serves as a mentor for Harvard's I-Lab and Praxis.

"Whether you’re a scrappy startup or an established Fortune 500 firm, you can reap great rewards by tapping into the power of purpose.  But how do you turn purpose into profit? Kyle Westaway reveals the secrets behind the success of purpose–drive market disruptors like Method, Warby Parker, and Etsy, as well as how giants such as IBM and Nike have harnessed the power through innovative product and brand development. Profit & Purpose   provides an essential roadmap for all those seeking to crush it with purpose."–Gary Vaynerchuck, CEO of VaynerMedia, New York Times bestselling author "For billions of people who live at the based of the pyramid (BoP) job opportunities and access to life enhancing products and services are top on their list of needs they value most. Social businesses are uniquely positioned to deliver these life–enhancing essentials to those the free market has traditionally left behind. Westaway′s thought provoking book should be read by anyone who is interested in learning about how business can be harnessed as a force for good.”–Jordan Kassalow, Founder, Co–Chairman, VisionSpring, on the Forbes Impact 30 List "Kyle Westaway has the unique ability to distill complex ideas into simple authentic truths, and he′s created a masterful gift in  Profit & Purpose ."–Adam Braun, Founder of Pencils of Promise and New York Times bestselling author