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3 Companies That Live What They Love

What is the most important thing in life?

Most people probably would not rate money at the top of the list. When faced with this type of question, most people instead point to things like family, helping others or love. So, why does it often seem that most businesses are simply in it to make a profit?

While the notion of giving back or encouraging consumers to abstain from unnecessary purchases might seem counterproductive, there are a number of businesses that have made this very business model successful.

1.TOMS Shoes – This popular brand of shoes started out on a simple premise; for each pair of shoes that is purchased from them, the company donates a pair to a person who is in need. TOMS has since expanded its give-back efforts by using some of its profits to help improve access to safe water, sight care and safe birth practices in underdeveloped areas.

2.Patagonia – Not only does this maker of climbing gear and clothing fund environmental grants with its own profits, it also encourages its customers to buy less. Instead of tossing out worn or damaged gear and clothing, Patagonia offers repair services to take the weight off its customers’ wallets as well as the environment.

 

3.Starbucks – The gourmet coffee company caught a lot of flak for what some called an ill-planned campaign to engage consumers in an open conversation on race, but the company continues to press forward and is clicking on all cylinders. Also, disheartened by the overwhelming cost of a secondary education, the CEO partnered with Arizona State University to offer all of its employees the opportunity to attend school free of cost.

TOMS, Patagonia and Starbucks all demonstrate one very important idea — there is no cold, hard line between business and personal life, because a business is bound to touch the personal lives of its customers in one form or another.

Bettering Your Business for a Brighter Tomorrow

Improving a small business may not always feel like the easiest task, but when entrepreneurs think back to when they actually began their startups, it can put the potential level of effort into perspective. However, business owners will likely need to utilize the same level of enthusiasm and organization that it took to start things up in the first place.

Evaluate

With that in mind (and perhaps a cup of coffee in hand), set aside some time to gather all aspects of business records together. Include finances and financial records, social media campaigns, sales records, employee records, company policies, and other relevant information. With that information in hand, carefully go through each topic one at a time. Keep a pen or highlighter handy to make notes.

Compile the Data

A jumble of notes and highlighter marks are not of much use to anyone, so be sure to compile everything into data that is actually useful. Are there areas of overspending that can be cut back so that the money saved can be used for new areas of growth? What about social media? If it is not being utilized to its full potential, there could be consumers who are missing out on what the company has to offer.

Make a List Now

that areas in need of improvement have been identified, create a list with a dedicated timeline for rolling out changes. Rank tasks in the order in which they need to be accomplished and include any necessary subtasks.

Implement

Get to work! A business needs time, dedication and a willingness to roll with the punches to thrive in a competitive online environment. Whether it is making changes to a social media campaign or implementing a new filing system, even the little changes can add up.

With that same go-get-‘em attitude that most entrepreneurs have when starting out, bettering a business might just be one of the easiest things on the agenda.

Hack Your Phone to Make Life Easier

It can be hard to imagine life before the introduction of smart phones. Although some people pine for the “good old days” before there were GPS instructions and immediate access to the Internet at the tip of a finger, the reality is that this technology has the ability to improve day-to-day life.

Even for the most unorganized business owner, a few simple hacks made to a smart phone can make productivity skyrocket.

  • Separate work apps and personal apps. Whether you have an iPhone, Android or any other type of smart phone, most allow you to organize your apps into folders. Games can be stored in one folder, social media apps in another and work-related apps can have their own designated space. There is little to no searching necessary, as most folders can be kept on a phone’s home page.
  • Utilize free apps. Less than pleased with the calendar app that came with your phone? Find a free one that fits your needs and download it. Have trouble keeping track of important lists? Google provides a handy app called “Keep,” where lists can be made, checked off and updated.
  • Do not forget about the alarm. Many people now use the alarm on their phones instead of traditional alarm clocks, but it can be useful for more than just making sure that you are awake in time for a shower. It can be easy to get lost in work, so set an alarm when you are on a tight schedule to keep from taking time away from other important tasks.

Smart phones may get a bad rap from time to time, but there is no denying how useful they can be. With a little bit of effort and organization, a smart phone can be more than just a texting machine — it can be a pocket personal assistant.

Licensing for Profit

In some instances, only so much traffic can come through a single website. When a business’s ability to produce a product begins to outpace the number of consumers who are regularly visiting the website, most people head straight for advertising and social media campaigns to bring in more customers. There is nothing wrong with this approach, and, indeed, it is important to stay on top of both of these things, but there is more than just a single option for increasing profit.

Consider licensing to get your product out there. Allowing other websites to make your product available for sale can increase your customer base, sales margin and profits.

Reconsider who your target market is and to whom you should be advertising. A product that has historically been advertised to a certain market might be appropriate for another target group with only a few changes necessary to the product. This cost is typically minimal while it can yield a larger payout.

Ask your vendors about discounts for bulk purchases. As a licensed product becomes more popular, the demand will inevitably increase. Save money on supplies by purchasing in bulk, and reap the benefits down the road.

Building wealth through a small business can be a trial in patience, but it is also an incredibly rewarding task. To make sure a business stays on track for that purpose, be sure to keep on top of new possible venues for income.