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Home Business Thinking of starting a business? Why social responsibility matters.

Thinking of starting a business? Why social responsibility matters.

by Uma
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startup business software developer working on computer at modern office SBI 322585631 2

Lexi Martel, Co-Founder & CEO of DesDeck. 

So you’re thinking of starting a business? You’ve got your product. You’ve thought about how to sell it. You’ve raised money. You are ready to go. But hold on a second – have you thought about social responsibility?

Social responsibility is not just a cosmetic tick-box. It can be a real driver of your mission as a business, and even your bottom line.

What is social responsibility? It is about your business acting in a way that benefits society. It encompasses more than carbon neutrality or donating volunteering days, though these are great things to be able to do. Social responsibility includes all the myriad ways in which your business interacts with the social world – everything from the leadership you give to your employees, to the way loyal customers are treated. Are you a responsible actor in your social and environmental ecosystem?

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It’s part of your brand

Embracing social responsibility brings numerous benefits – a loyal and more motivated workforce, repeat customers, ‘free’ marketing, and increased collaboration with partners who enjoy working with you.

In the hyperconnected era we live in, often dominated by the internet and social media, brands that can create a socially responsible reputation are more likely to thrive. It sets them apart and drives enthusiasm for their products and services.

Think about the kind of user-generated content that circulates around fast fashion or the oil industry. Selling in a competitive market is all about highlighting your differentiators. Imagine if the fast fashion company could demonstrate that its products are sourced from sustainable materials, or if the oil company could highlight a new green energy division. Would you be more likely to buy?

The average consumer is more aware than ever before. They want to buy products from responsible companies. What’s more, employees want to work for such companies. Create a brand with social responsibility at its heart, and you will create a brand people can share, and feel proud to be a part of.

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Start your business on the right foot

Make social responsibility a part of your business ethos from day one. Think about the ways in which your business impacts society and the environment, and brainstorm ways of reducing negative pressures, and creating more positive ones. How can your business contribute to your local community or environment?

Business is rarely a comfortable ride, but emphasising social responsibility from day one will help to invigorate your sense of purpose as a business, and set you up well for the future.

Of course, the flip-side of this is to make sure your own commitments are sustainable. Your resources are limited. With regards to the welfare of staff for example, you may want to offer your employees large benefit packages and extra leave days in a bid to compete with the larger, more established competition – only to find out that this is unsustainable. Once something has been given, it is very hard to take it away again!

Three quick and affordable ways to get social responsibility right at the start

  1. Treat your employees right

Social responsibility is not just about how your business impacts the world outside. It is also about how your business impacts the people who work for you. They are at the core of your community. Treat them well.

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In your role as a founder, CEO or manager, you need to lead by example. Treat your employees how you would like to be treated, but be mindful that everyone is different. Be conscious of burn-out, respect personal time after hours, encourage staff to take holidays, and reward them for their achievements. 

  1. Set the culture of the business

It helps to hire people whose values reflect your own. By establishing the right business culture from day one, prospective employees will have a clearer understanding of what they are signing up for, helping you to affirm a socially responsible culture from the outset.

You may even find that there are specific causes your employees really care about. So include your employees in discussions about social responsibility. Give them the opportunity to contribute. Make them feel heard.

  1.     Listen to your customers

It is unlikely you’ll get everything right straight away, and that’s okay. Most customers will be understanding. However, before you launch, make an effort to find and get to know potential customers. Think about what they look for in a brand, try to understand any concerns they might have about a business or product such as yours, and then incorporate these concerns into your own social responsibility agenda. 

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When potential customers understand and agree with your business on a social and ethical level, they are more likely to give you a shot. They are more likely to stick with you and develop brand loyalty. But you have to listen to them, and keep listening. Be sensitive to the little things and they are less likely to turn into really big problems.

Remember to be authentic

There are real social and environmental challenges around the world, and on our own doorstep. Now is no time for ‘green-washing’, or anything of the kind. Authenticity is crucial. Remember, the average customer is more aware than ever, and no fool.

To succeed with your social responsibility goals, they must be authentic, not just actions taken a little reluctantly because you think it will look good. Be genuine, your customers will recognise your efforts, and help your business grow.

 

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