Why the Brand You Buy Matters: Impact Beyond the Price Tag with Tim Jones (Episode #72)
We are in the days of the Great Resignation, or what I like to call, The Great Questioning. We’re seeing people worldwide realize that businesses should operate with purpose, on purpose, and for purpose. That’s where Tim Jones comes in!
Episode Highlights
About Our Guest
Tim Jones is The Grow Good Guy. He delivers the inspiration, motivation, and impactful training that businesses need to achieve meaningful goals and tap into their potential to do good in the world, or rather, their “purpose fuelled performance.”
His business is one of New Zealand’s founding B Corps. He’s also a B Corp Ambassador for NZ. More recently, he’s been co-teaching the University of Canterbury MBA Programme, “Creating Impact-led Enterprises,” as New Zealand’s #1 B Corp and business for good specialists!
In this episode, you’re going to hear how B Corp certification can fuel good in the world, how this new structure is evolving and improving, and the impact of an increasingly values-driven economy.
B corp status is already shifting consumer loyalty because more and more of us want to do business with companies that care about people and planet. (The bottom line in the B corp commitment.)
And loyalty will come naturally because B corps are generally all about going the extra mile to be creative, inclusive, radiantly welcoming, environmentally responsible and people-centric. This is the Business of Goodness that we find ourselves celebrating so often at the Goodness Exchange. Stay tuned and you will start to see it growing all around you!
Get ready for some good fun (never a dull moment with Tim here), and let’s peel back the curtains of our price tags and learn why the brand you buy or sell matters to the world.
Resources Mentioned:
If you’d like to check our your favorite brands for their B corp status and rating, here is the B Lab website were you can search by product, industries, or alpabetical company names!
Books:
Articles:
Links:
Connect with Tim on LinkedIn. It’s time to pump some purpose into your organization. Go to https://www.growgood.co/, and let’s do business better!
Show Notes
[00:01 – 9:28] Opening Segment
- I introduce Tim Jones
- Bio
- Based in NZ, originally from Wales
- We are in the thick of the gratitude economy
- More are becoming values-driven consumers
- Tim shares a bit of his background in life and work
- Grew up in the UK
- Started out selling out medical devices
- Seeing unethical practices in the medical industry
- Subconscious awakening – what is this all about?
- Tim’s discovery of B Corporation
- A group of people who want businesses to do better
- How Tim got established and involved in B Corp
[09:29 – 26:30] How B Corp is Changing the World for the Better
- The hero’s journey of pursuing good
- Questioning what you should be doing
- COVID has been the catalyst for a lot of people
- Tim defines and explains B Corp
- Certification tool 3rd party verification of your business’ transparency
- Independent proof that you have “people and planet” at the heart
- You have to be a for-profit business to be eligible
- Companies that put people and planet first generally do very well
- The example of Conscious Capitalism
- When humanity and the planet are put first, you outperform
- There is a growing demand for meaningful businesses
- B-Lab – regional sectors that run the B Corp operation
- ⅔ of B Corps increased global revenue amid the Pandemic
- No matter what you want, you should be a B Corp
- The example of Conscious Capitalism
- People are looking in their closets and cabinets
- Consumers want to “but better”
- The purpose journey is a one-way street
- You never go back
- More and more people are pausing
- We want products that make a lasting impact
- We now have some time to pause
- Global impact – once you see it, you can’t unsee it
- Bring out the best in humanity and amplify our future on The Goodness Exchange
- More information on how you can join in below
[26:31 – 47:03] Why the Brand You Buy Matters: Impact Beyond the Price Tag
- Tim gives some parameters and practical tips around becoming a B Corp
- 5 main areas of the B Corp framework
- Governance structure
- Your code of ethics
- Workers/employment policy
- Compensations and development
- Community impact
- Job creation, opportunities, and diversity
- Environmental impact
- Inputs and outputs
- Customer/business model
- Guarantees and data privacy
- Governance structure
- Measuring your operational goodness
- Create more contributions than you are legally required to do
- Examples of big names B Corps: Ben&Jerry’s, Patagonia
- 5 main areas of the B Corp framework
- The contagion of purpose
- When we see it, we want more of it
- If you’re doing good, share it publicly
- Tune out the negativity of the news
- If it’s there, it’s because it’s rare
- When you dig deep enough you find the reason for the need for change
- How supply chain works in the B Corp space
- Figuring out where the problem is occurring from
- Line of sight to where you are buying things
- Putting positive pressure on the supply chain do better
- Tim’s vision for the future
- Making B Corp legally mandated
- Dig deep for the real solution to a problem
- Increasing demand for better policies
- Your shareholders want to see you doing more good
[47:04 – 53:40] Closing Segment
- The concept of “a good deal” is changing
- A good deal is money going towards something impactful
- We are at a tipping point in consumerism
- It isn’t just about “stuff” anymore
- How the B Corp ethos fits the values of new workers
- It is a beacon for people with shared values
- How to connect with Tim and his work
- Links below
- Give a review and rating, and share this episode with others
- Final announcements
