Benefits of Social Startups
For at least the last decade we have anxiously awaited what’s “next” in tech, we wait with bated breath to see how our lives will change, for the better. Over the past few decades many technological breakthroughs have led to a better society.
We have seen recently how the internet and mobile smart phones have empowered people to push back against oppressive leaders, leveling the playing field with who has access to information and learning.
We have also seen how technology has hurt societies progress, with democratic disruptions from social media, to cyber abuse, technology has come with both the good and the bad.
At Pulse For Good, we are a social startup, we hope to use technology not to drive profits, through trendy “likes” but through lasting change and betterment of society. It is our passion and goal to make the world a better place!
How are social startups better?
The obvious: Instead of being focused on profits, they are focused on social good. This translates to:
Source: DoneGood
- “Conscious Capitalism founder Raj Sisodia found that highly conscious companies outperformed the S&P 500 by a 14-to-1 ratio over a 15-year period.” Ironically, by not focusing on profits, and focusing on employees, environment, and society profits don’t sacrifice, e.g. Patagonia
- Better Business: Social Startups tend to have greater diversity, transparency and open communication which leads to a more effective team.
- Part of the Family: Social startups tend to be more progressive when it comes to helping out other social startups, we are all in this together.
- Consumer Appeal: Consumers, especially millennials are attracted to companies that better society.
- Better Employees: Similar to #2, having a diverse effective team, focusing on transparency and employee happiness will lead to better retention and happiness among your employees. A happy employee is an effective employee.
