#61 - Social Entrepreneurship: What It Is and How It’s Changing Business For The Better

Show Notes

In this episode Lori Vajda and Nola Boea sit down with social enterprise founder and CEO Jennifer Moreau, whose mission-driven for-profit company, World For Good, a certified social enterprise selling high-quality, hand-crafted reusable totes, drawstring and messenger bags, explains why she started her business as well as the massive impact it’s making in the world and human trafficking. Come take a listen and learn how you can become a successful and profitable small business social entrepreneur. ​

Thanks for Listening!

Ready to start your business or grow your personal brand? Schedule a free 20 min. consultation call now.
https://www.stickybrandlab.com/services.html

Sticky Brand Lab is the place for professionals who want to take their knowledge, experience or ideas on the road less traveled. 

If you enjoyed this show, make sure to subscribe to the podcast so you’ll never miss an episode. Want to get to know us more? Find out more about us and our services at Sticky Brand Lab. https://www.stickybrandlab.com/

We love hearing from you! Leave or speak your message here: https://www.stickybrandlab.com/contact.html

If you haven’t already, please connect with us on Facebook! https://www.facebook.com/stickybrandlab

Would you like to be a featured guest or have your question, comment or review mentioned? Ask Muse! https://www.stickybrandlab.com/ask-muse.html

Business success strategies are in the works. Come have a listen!

In This Episode You’ll Learn 

• Buyers are 80% more likely to trust a business they believe is committed to solving societal issues.
• What is a social entrepreneur?
• How and why social responsibility can be an important component of having a competitive advantage in today’s marketplace.
• Why social responsibility offers a business a differentiator that appeals to specific buyer demographics.

Key points Nola and Lori are sharing in this episode:

(3:37:75) Why a new model of entrepreneurship, one that combines business with improving social and environmental issues, has emerged.  

(9:09.90) How human trafficking goes undetected and why there’s a need to bring awareness to the United States.

(12:51.74) The definition of certified social enterprise and how it’s different from a B Corp.

(18:21.19) How a new entrepreneur can establish herself as a mission driven entrepreneur or enterprise business.

Resources 

B Impact Assessment: https://app.bimpactassessment.net/get-started/partner/forgoodmovement

SDG Action Manager:
https://app.bimpactassessment.net/get-started/partner/floridaforgood-sdg

World Fair Trade Organization Standard: https://wfto.com/sites/default/files/WFTO_Standard_Handbook_November%202020%20digital_72%20medium.pdf
 
Jennifer Linkedin: https://www.linkedin.com/in/jennifer-moreau-1944a47b/
Jennifer Facebook: https://www.facebook.com/jenniferlynn.moreau/
 
World For Good Website: https://worldforgood.com/
World For Good Linkedin: https://www.linkedin.com/company/56187044
World For Good Facebook: https://www.facebook.com/World4Good/
World For Good Insta: https://www.instagram.com/worldforgood/
​
You can subscribe to Lori and Nola's show, (we love you and want to make it easy) on Apple Podcasts, Spotify, Audible, Google Podcasts, Stitcher, or wherever you listen to podcasts.

​This episode was supported by Be-YOUnique.  
https://www.stickybrandlab.com/be-you-nique.html

ConvertKit: Our #1 Favorite Email Marketing Platform
https://convertkit.com/?lmref=-jJWzw
(This is an affiliate link)

Transcript

[00:00:00] Nola: In a world filled with social, economic and environmental challenges, making a positive impact through business may sound like an idealistic goal, but for a new wave of ambitious entrepreneurs, tackling societal challenges while making money turns out to be the best reason to start a business. No, this isn't a non-profit, it's a for-profit social enterprise and it's transforming entrepreneurship. Stay tuned listeners because today we're exploring the world of mission-driven business and it's anything but business as usual.

[00:00:32] Announcer: You're listening to the Sticky Brand Lab podcast, where time strapped professionals like you, learn how to create a business you love in as little as three hours a week.

[00:00:42] Lori: Mission-driven for-profit companies span every imaginable sector and geography. They range from breakthrough innovations like recycling plastic into soft fabric for clothing to non-electric, portable incubators for newborns in rural developing countries. Today, we're exploring the appeal of starting a do-good business with our special guest, subject matter expert and social entrepreneur, Jennifer Moreau.
But before we do, welcome to Sticky Brand Lab, the podcast where we share essential business tools, shortcuts, and advice from leading entrepreneurs, industry experts and our own real-world experience. So professional women like you can purposefully launch your side business quickly and without breaking the bank or feeling overwhelmed. Because the only thing more empowering than knowledge is being able to take confident, decisive action.

[00:01:38] Nola: Like most new businesses, building a for-profit social enterprise that works to solve a real-life problem is no easy feat. However, it's an experience that's both inspiring and rewarding. While the goal for any company founder is to make money, for social entrepreneur, jennifer Moreau, that goal goes well beyond profit. For her, the real goal is using her position as a business owner to make a long-lasting impact on society. Jennifer is the founder of World for Good, a certified social enterprise selling high quality handcrafted reusable, totes, drawstring, and messenger bags. In 2021, she won an award for excellence in social entrepreneurship practice from the U S Association for Small Business and Entrepreneurship. Her company's mission is to make an economic difference for women living in poverty, where opportunity is scarce and exploitation is common. Jennifer's passion is to provide shoppers with a quick and easy way to support human rights initiatives through the purchase of a single bag. While her heartfelt purpose is to put an end to human trafficking.
Welcome Jennifer.

[00:02:41] Jennifer: Thank you, what an intro.

[00:02:45] Nola: It's all true. It's all about you.

[00:02:47] Jennifer: I'm honored to be here.

[00:02:49] Lori: We're so glad that you are here, but before we get into our conversation and because we're a podcast all about supporting professional women who are ready to start their own side business, tell us what's the most entrepreneurial trait about you?

[00:03:04] Jennifer: Oh, I would think that I never give up. I just keep going. I'm relentless.

[00:03:12] Lori: That is a good and needed trait for starting a business, whether that's a side business or your full-time passion.

[00:03:20] Nola: Yep. Persistence, right?

[00:03:22] Jennifer: Yeah. If you stand back and let the world go in front of you, you're just not going to get there. You've got gotta be out there in front with everyone else and just keep doing what you want to do and just keep going for it because things will happen.

[00:03:35] Nola: Oh, that's inspiring.

[00:03:36] Lori: Very,

[00:03:37] Nola: Before you tell us about social enterprises and how they're different from nonprofits, would you tell us your personal experience? How did your entrepreneurial journey begin?

[00:03:48] Jennifer: It began, I think at birth.

[00:03:53] Nola: Well, this is a 30-minute podcast.

[00:04:03] Jennifer: I've always had a side business. I've babysat. I sold bookmarks in school. In college, I studied graphic design. And so I did freelance design while in college. And then after that, it's just like, I would have my full-time job after I graduated, but I'd always have that side hustle next to me. And I think it's just because it must be like my energy level. My sons say I have all this nervous energy and I have to put it somewhere. So it goes into businesses like that.

[00:04:34] Nola: Awesome! I can totally relate actually. So what is it that inspired you to start World for Good?

[00:04:41] Jennifer: First I bought the URL World for Good. I knew I wanted to do something huge, but I didn't know what, and I also knew that I wanted a dual mission, so I wanted an environmental mission. And then I also wanted a social mission as well. And so it took me two years to sit on it and to think, and to feel like, what am I the most passionate about? Because at this point in my life, this is a company that I want to have, you know, go on and I want it to be like a legacy type company.

So I put a lot of thought into it. And first I came to the conclusion, my personal passion is human trafficking. And so that was an easy one. I wanted my social mission to be that. And then for my environmental mission, it's kind of a funny story. My mom, I would see her go to the grocery store and she'd come back with like 30 plastic bags. And I'd be like, Mom, do you know how long it takes for these to degrade in the landfill? Never!. And she says, it's okay because I reuse these. I use them as trash liners.

So she was my inspiration for the environmental impact. And I thought we need reasonable bags. So I put together reusable bags with anti-human trafficking and I found global partners that employ people that are survivors or at risk of human trafficking. And they teach them skills They love on them. They get them back to center and they help their children get in schools. Then they teach them skills or a way for them to make their own money. So now they're making a living wage they're opening bank accounts, and they're making beautiful products. So my job in this whole kind of world of anti-human trafficking and making reusable bags is I buy their inventory.
And so I buy their bags. I sell them here in the States. And then with that, I put it right, all of my profits, right back into buying more inventory.

[00:06:47] Lori: Where do you get your bags from?

[00:06:49] Jennifer: Yeah, my bags come from global partners. So right now I have my main global partner is in India and there's a clothing manufacturer there that has a very strong environmental mission. And instead of throwing all of their remnants in landfill, they created these nonprofit centers throughout in the slums of India. And so they donate all of their remnants to these centers and the centers are where they are employing the people and teaching them the skills of how to make the bags.

[00:07:19] Nola: Wow.

[00:07:23] Lori: That's awesome.

[00:07:24] Jennifer: Where did you find them? I just did so much research online and came up with them and I put out so many feelers and like emailed a lot of companies asking them if they could align with my mission idea and they responded and they're like, yes, this is exactly what we do. We'd love to partner with you in the U.S. I was a means for them to become global over here in the states. And they were a means for me to do all this great work.

[00:07:52] Nola: Wow.

[00:07:52] Lori: That's awesome.

[00:07:54] Nola: How fulfilling.

[00:07:55] Jennifer: Yeah. Very.

[00:07:57] Lori: Do you have any input in the design or the type of bag that you decided you wanted to offer to consumers?

[00:08:08] Jennifer: Great question. And a lot of people ask that. They go on the website and they see that there's an asterisk that says, you know, all bags are vary in color. They vary in size. And so I can ask for a particular style. So I do have control over that, but the color and the patterns and the sizes.

[00:08:29] Nola: It's remnants.

[00:08:30] Jennifer: Yup. It's the remnants. It's whatever they have. It's whenever they're making from. Everything that I get from them is incredibly beautiful. So I kind of love that, that I can't choose. I just like to see what comes. It's like the surprise package when the inventory comes.

[00:08:49] Nola: I can relate, actually. I sewed a lot of my own clothes and one of my first side businesses was creating small garments out of remnants and I could sell them, but when people started taking orders, it was like, but then I'd have to actually go buy the material. I don't want to have to do that. So, you know, pick what's in the box.

[00:09:09] Jennifer: Yup.

[00:09:09] Nola: Well So why anti-human trafficking out of all the causes?

[00:09:14] Jennifer: That is a very personal passion for me. Human trafficking happens all over. It happens right in front of us and we don't even know it. And that happens in every country. It's not just in India. It's here in this States. You could be at a hotel on vacation and you're like laying next to the pool and there might be a little girl there that's 11 or 10 and you might see like her dad with her.

And then her dad walks away and another man walks up and she walks away from him. That's human trafficking. And we don't even know that it's right in front of us. And so, because it's like so rampant and so unnoticed, it's the most undetected crime ever. Wow, that just became my personal passion to create awareness around this.

[00:10:04] Nola: That's awesome. Cause you're right. You don't think of it happening here in the U S that's something that happens overseas. You know. You go overseas to do that kind of thing, but you would never know. I mean, it's coming more to light and because of causes like yours, so that's awesome.

[00:10:18] Jennifer: Yeah, it's good.

[00:10:19] Lori: Can you explain what a social enterprise is and how it relates to your business, as well as your mission with human trafficking to put an end to human trafficking.

[00:10:32] Jennifer: So a social enterprise is a company with a social mission. They want to do something around human rights. And so that becomes a social enterprise. So there could be a nonprofit social enterprise and there could be for-profit social enterprises. So, World for Good is a for-profit and it is structured in the state of Florida as a benefit corporation. So we're not an LLC, we're a benefit corporation. And then we're taxed as an S corporation at the federal level. So the difference between the non-profit and the for-profit would be just where your money is coming from. So I decided to go for-profit because I didn't really have that much experience with grants and writing and fundraising.

Plus I wanted to focus my energy on my social mission. I didn't want to focus my energy on trying to get some other company to fund me. That's why I decided to structure it as a for-profit. And so this way, my background is marketing. So I'm used to selling things. I'm used to branding things, and that kind of came natural to me. And I thought I could make a larger impact in what I'm doing as a for-profit business.

[00:11:49] Nola: That makes complete sense. Just to ask for some clarification, some social enterprises are for-profit and some are non-profit. In which ways are they similar and what ways do they differ? You had said it's depends primarily on how they get funds. Are there any other differences?

[00:12:07] Jennifer: I'm not really well-versed in the nonprofit space, but I do know that to become a certified social enterprise, you must put more than 50% of your profit back into your social mission. Like that's not going to go to your shareholders. It's going to go right back into your social mission.
So to become a certified social enterprise, it's like an asset lock type of a thing. And so not all social enterprises are going to want to become certified, but it's a good certification to have to prove that you really are walking the talk and you really do mean that, you know, your social enterprise is doing good.

[00:12:46] Lori: Maybe you could explain what the process looks like to be certified as a B Corp.

[00:12:51] Nola: So, yeah, there's a difference between B Corp and benefit corporation as an incorporation. So I had a firm for awhile. I want to say it was just one of the very first companies to be incorporated as a Florida benefit corporation. Conscious Capitalism Florida had a whole seminar on it and I went and I'm like, okay. They explained how it's all done and even gave some language to put into the articles of incorporation. And I went right home and incorporated. However, when I saw that you are certified, I did not know that a social entrepreneurship certification even existed. I've heard plenty about B Corp certification. You don't have to be a social enterprise to be a B Corp. So to be a social enterprise is actually even a smaller niche of that. Can you tell us more about that?

[00:13:40] Jennifer: Yeah. It is a definitely a smaller niche area because not all B Corps could become a certified social enterprise just because of an asset lock. They may cover all the other check boxes, but the asset lock is the toughest one to get. And the certification here in the U S is very new. World for Good was actually the first one to certify in the United States.
And so when they brought the model over here from the UK, and so over in Europe, everybody knows what a social enterprise is and all companies want to buy from social enterprises to check off their corporate procurement type of initiatives that they have. But over here in the United States, no one really knows what they are and no one really thinks to buy from them.

So that's what the certification was brought here for is to create more awareness around it. And they are growing. They do have more companies that are certified. I don't think that many just because it's so new. I think it was brought out in late 2019 or early 2020. And so it's kind of like a two-step process.

First you sign up with this company called Good Markets and it's a global company and it's like a listing for a social enterprise stores. Okay. And you don't really have to have a physical story. You can just be a company that is selling something that has a social mission. So you sign up for Good Markets and to become a member of Good Markets and to get on their website, there's a form, it's a pretty rigorous form that you have to fill out and answer questions. And if they do approve you, you get on their site.
And then if you want to become a USA Certified Social Enterprise, then you just answer a few more questions because they're kind of connected together, those two companies, and then you get certified, you pay the certification and then you put the logo on your website.

You have to meet all of the requirements. And then it's third-party verified by Society Profits. So it is very legit. It's just like the B Corp assessment, how it's verified and audited, same type of thing.

[00:15:56] Nola: Okay. Wondered about that.

[00:15:57] Jennifer: So yeah, you have to fit into their criteria and you have to pass, you know, with enough points.

[00:16:04] Nola: You had incorporated as a Florida benefit corporation. And one of the criteria of incorporating as a benefit corporation is that you have to supply annual outcomes, basically social outcomes. You actually have an annual report. I believe it's downloadable from your website. That explains your outcomes. Can you explain how you chose those outcomes, how you measure them, how you report them.

[00:16:28] Jennifer: Sure. So I use the B Corp assessment as my way of measuring my company. And I also use the SDG's, UN sustainable development goals. That's what SDG is, the SDG Action Manager as another assessment. So I aligned my company with the 17 sustainable development goals. That's a mouthful to say. So I aligned my company with them in both of these assessments. The B Corp assessment is for like a whole company operations perspective and like the governance of my company and what I do for my workers and all of that.

But the SDG one is a more global assessment where I track, like, what am I doing to help kind of alleviate poverty? What am I doing for things below water, things above water, what am I doing for responsible consumption and production? And so there's 17 of those categories that I keep track of based on that assessment. And then my business operations, I keep track of through the B Corp assessment.

[00:17:34] Nola: Oh, wow. I've seen the B Corp assessment and it is actually quite rigorous. And for me at the time having a one person shop, it was really an exercise to try to figure out what is my carbon footprint? How do I figure out all of the logistics? Like, everybody in your supply chain has to also comply with certain criteria, and it's a challenge. So to be able to say, I've looked through all the supply chains, I've studied my own carbon footprint, among other types of categories, it's quite an exercise. And so on top of that, I have to admit I've never gone through the sustainable development. What is it? SDG sustainable goals. Checklists. So, I'm gonna have to check that out. I think. i might be a little intimidated.

[00:18:22] Lori: It's very, very impressive. All that you've done, what your conceptual idea was for your business and the steps that you've taken. And I know there's a really big push from new aspiring entrepreneurs to be more social enterprise in their company. It's a different way of doing business. I have a two-part question here regarding that. For anyone who's thinking of pursuing it and knows nothing about how you establish yourself as a mission driven entrepreneur or enterprise for your business, what would you say to them?

[00:18:58] Jennifer: I would say if you're just starting out and thinking about it, find what's in you. What is your passion? What do you care about? What do you look at online? Like what do you research through YouTube? Or like, where are you focusing your energy? Because once you find out what your personal passion is, then you can kind of hone into, oh, well this is the social impact that I'm interested in and that I feel like needs to change. And so that can then become the foundation of what your social enterprise could be.

[00:19:32] Lori: That's a good place to start and to tap into yourself. Once you do that, what resources would you recommend someone who knows nothing about and wants to establish themselves or a business, even a side business from this standpoint, what recommendations tips, tools would you offer up?

[00:19:53] Jennifer: Kind of a two-prong question because when starting up a business for the first time, I would recommend finding a mentor that's already in that type of a business. And that is successful. Use that person as a mentor, ask them questions because most of the time people love talking about their companies and how they did it. And I mean, that's why you have this podcast, right?

[00:20:18] Lori: Exactly why. We want to help people start a business with the solid foundation.

[00:20:23] Jennifer: Yeah. And then look for free resources. Like here in Orlando, we have a resource by the state it's called SCORE and it's for small businesses and they collect mentors to help people like me that were starting out a business.

So those are my tips for starting a business. And my tips for the second part of it. If you want it to be a social or environmental impact business, then I would say, start out by looking at the B Corp Assessment or the Fair Trade Assessment or the SDG Assessment. Use that as your foundation to start your company and to look at, well, I need to care about this part of my company. I need to make sure that I have a diverse board. You know, it gives you a foundation of how to set your company up and how to move forward and it gives you goals to work towards. And actually when I started World for Good, I started it with the Fair Trade Assessment and I followed everything just as if I was getting certified. So that's how I started up World for Good.

[00:21:25] Lori: Wow. And to find those resources with somebody just go to fair trade. Is it.org?

[00:21:32] Jennifer: Yeah, I think it's a World Fair Trade Organization and then B Corp, but you can just be core Google that B corporation and then the SDG Action Manager is also. one

[00:21:44] Nola: So listeners, now that we know this, we'll be sure to have those in our show notes. What sustainable and lasting legacy do you hope to make with World for Good?

[00:21:54] Jennifer: A really good question. And my goal when I started World for Good, because I started this later in my life, my second half of my life. So I want this to be a company that grows and is successful because the more bags that I sell, the more people they can employ. And I've got two sons and not that I want them to run the company, but I want it to be something that they're proud of, that their mom started and that their mom is, you know, running and something that they can kind of brag on about. Well, look, this is what I'm from. This is where I came from. And so it's kind of like a part of them as well.

[00:22:31] Nola: That's great.

[00:22:32] Lori: Switching gears just a little. And before we wrap up our show, Nola and I love eating. As a matter of fact, we met and the idea for Sticky Brand Lab came up over several conversations, over several dinners and lunches, but we thought it would be interesting to see what your personal favorite recipe is and how it reflects your own experience and journey as a successful entrepreneur. So could you tell us about the recipe that you gave us. The ultimate stuffed cabbage, and I'm hoping I'm saying the name, right? Lou Fassum.

[00:23:08] Jennifer: Yes. And thank you for telling me what the recipe was because I Googled, what is the hardest recipe to make. Because when you wanted me to describe my company as a recipe, it's hard. It's so hard to do. So I haven't actually never ate that or made it or said the words before. So I don't know how to pronounce it.

[00:23:37] Lori: This may be a first. And I love that you Googled what is the hardest recipe to make? Because starting a business from scratch is hard work.

[00:23:46] Jennifer: It's tough. Yes.

[00:23:49] Lori: So could you tell us a little bit about Lou Fassum?

[00:23:53] Nola: If you remember?

[00:23:55] Jennifer: Yes. It looks beautiful. The when, the picture came up, it looked very well put together.

[00:24:02] Lori: Oh yeah. I saw the picture. It looks amazing.

[00:24:05] Jennifer: It's got that green cabbage leaf. So beautiful. It looks like you definitely want to eat this. So that's what a successful business should look like. Right? Yeah. a Lou Fassum.So

[00:24:23] Nola: that's what it's actually called is a Lou Fassum? It is. Oh, I thought the name of the recipe was the ultimate stuffed cabbage and Lou Fassum was the creator,

[00:24:34] Lori: but it's how it's actually listed. It's listed as the ultimate stuffed cabbage, Lou Fassum. And I was like Who's Lou Fassum?

[00:24:42] Nola: But Lou Fassum is the name of that actual dish.

[00:24:46] Jennifer: I believe so. And I think they put that first part in it for those of us that have never heard of what it is that is.

[00:24:54] Nola: So every business should be like a Lou Fassum. It should end up being beautiful and enticing. Delectable, even though it took a whole hell of a lot of work.
But the outcome is so worth it. Right. So we also ask kind of fun questions to help us and our audience get to know you better. And so the question we have for you today is what public spaces do you feel most comfortable in? Like, you know, would it be a library, a park, a mall, a bar, a stadium. What public space would you find comfort in?

[00:25:31] Jennifer: So the minute you mentioned public space, I started sweating because I'm an introvert so a park is perfect for me. When I'm alone with the trees and the wilderness. It's perfect.

[00:25:49] Nola: Uh, I can so relate.

[00:25:52] Lori: We can. And it's always interesting because you're an introvert and yet social enterprise feels so extroverted and what you've done to connect with the company that supplies your inventory. All of that has a very extroverted personality to it, but you're an introvert with extroverted goals.

[00:26:15] Jennifer: Yes. And you have to be when you have this strong passion in you and you'd want to make a difference and you want something to change. It doesn't matter that you're an introvert. You don't even think about that. You just, you know, do whatever you can to make your mission happen and to make it a success.

[00:26:35] Nola: Wow. I think you've just articulated what the difference is between just having a business, and having a business that's part of your personal cause. Wow,

[00:26:45] Lori: That's great. Thank you Jennifer, for being our guest. If someone wants to learn more about you, or World for Good where can listeners go and how can they connect with you?

[00:26:56] Jennifer: The site is right there, worldforgood.com and it talks all about our story. And it also gives a tip line for if you see human trafficking, a number to call or a website to go to as well for that.

[00:27:10] Lori: That's great. And we're going to put that on our website listeners. You can easily find the links and connect and learn a whole lot about World for Good and see the gorgeous bags that are on Jennifer's website. Thank you so much for listening to this episode. We hope it makes all the difference in you getting started on your side business so you can create your best and most exciting life.
Not sure how to turn your idea into a profitable side business? Contact us at stickybrandlab.com/contact. We'd be happy to help you. If you found the information shared here today, helpful. Let us know by posting here where you're listening or on our Facebook page, this way we can learn about your business goals, ideas as well as send you love, encouragement, and congratulate you on the amazing and courageous decision you've made.

[00:28:05] Nola: Be sure to come back next Tuesday and every Tuesday for another informative, inspiring and motivating episode. And remember. Action creates results. So tap into your desire to create a business and brand you love by taking 1% action every day. Small steps, big effects.

[00:28:23] Lori: Do you have questions about creating a personal brand, side hustle or small business? Sign up for one of our clarity sessions. For more information, contact us at stickybrandlab.com/contact.

[OUT-TAKE]

So could you tell us about the recipe that you gave us?
[00:28:44] Jennifer: Okay, cut. I don't remember.