Profit & Purpose

KYLE WESTAWAY is Founding Partner at Westaway & Co., an innovative Brooklyn law firm that counsels social entrepreneurs, and a Lecturer on Law at Harvard Law School, where he co-teaches a course on social entrepreneurship. He writes on social innovation, entrepreneurship and emerging markets for The Guardian, The Wall Street Journal, TIME and Quartz. He launched socentlaw.com, a blog on the legal side of social enterprise, and careerinbeta.com, a blog on the future of work. Kyle co-founded Biographe, a socially conscious fashion brand employing and empowering survivors of the commercial sex trade in Southeast Asia. He advises companies on social innovation strategy and speaks around the country on social entrepreneurship and the future of work. Kyle also serves as a mentor for Harvard's I-Lab and Praxis.

• Acknowledgments ixIntroduction xiMoving Beyond Shareholder Value xviMoving Beyond Giving xviiA Better Way Forward xxCan I Really Do Well and Do Good? xxiiHow Social Enterprises Are Leading the Way xxivWhat Sets These Social Enterprises Apart? xxviiiBehind the Scenes xxx1 Discover Through Curiosity 1Identifying the Problem of Eyeglasses 2Recognizing the Right Problem for You 6A New Kind of Marketplace 13Method to Their Madness 15Inspiration at a Sleepy Roadside Stand 17Innovation from Within 19The Bumpy Path to Innovation 21Africa’s Moonshot 22Key Takeaways 252 Design with Humility 29Bringing Brilliant Design to the Poor 31Letting the Users Guide You 34Discovering You Need to Pivot 36Don’t Underestimate the Challenges of Distribution 37You Don’t Need to be an Expert 37Embracing Challenges 41User Testing Has Many Benefits 43Knowing What to Outsource 43Finding Early Adopters Takes Work 44Creating Demand 45Good News Travels Slow 46Key Takeaways 483 Build with Hustle 51The Intuitive Hustle 52The Strategic Hustle 57Best Laid Plans 59Beating the Burn Rate 62Simple and Sincere Can Work Wonders 68Key Takeaways 704 Fund Through Commitment 73Promoting a New Version of Capitalism 74When Profit Trumps Purpose 75The Benefits of the Benefit Corporation 76The True Cost of Free Money 76Smart Crowdfunding 78Kickstart 80Follow-On Funding 83Going to the Well 86Embrace 2.0 88Vision Capital 91Not Having to Ask for Money Again 94Investing in the Ecosystem 97Key Takeaways 985 Connect with Authenticity 101Values Drive the Brand 103Establishing the Brand Hierarchy 104Give Them a Delightful Experience 106Reworking One for One 107Offer Delightful Experiences 108Selective Partnerships 109Hit the Road Jack 110The Marketing Method to the Madness 111Don’t Talk at Your Customers, Listen to Them 118Building a Community 119Press Coverage Trumps Ads 120Build Momentum with a Pre-Launch Campaign 121Key Takeaways 1236 Scale Through Community 125Making a Mission Truly Meaningful 126Keeping on Top of Employee Engagement 128Wild Growth 131Keeping the Magic Alive 133The Limits of Hustle—Tough Decisions 134Selling Doesn’t Necessarily Mean Selling Out 135A Road-Side Startup Goes Corporate 136Dumpster Diving 138A More Sustainable Supply Chain 139Learning from the Big Guys 141Becoming More Innovative 142Sticking with Strengths 143The Challenges of a New Location 146Your Reputation May Precede You, But You Need Community Support 149Key Takeaways 1507 Evaluate with Honesty 153Baking Metrics Into Your Process 153Considered Design 154Throw It Over the Wall 157Measuring Your Footprint 160Learning to Love Data Mining 161Hacking Education 162The Bigger You Are, the More Data You Have 164Collecting Data Over Time 166Key Takeaways 168Conclusion 173About the Website 177Index 179

"Whether you’re a scrappy startup or an established Fortune 500 firm, you can reap great rewards by tapping into the power of purpose.  But how do you turn purpose into profit? Kyle Westaway reveals the secrets behind the success of purpose-drive market disruptors like Method, Warby Parker, and Etsy, as well as how giants such as IBM and Nike have harnessed the power through innovative product and brand development. Profit & Purpose  provides an essential roadmap for all those seeking to crush it with purpose."-Gary Vaynerchuck, CEO of VaynerMedia, New York Times bestselling author"For billions of people who live at the based of the pyramid (BoP) job opportunities and access to life enhancing products and services are top on their list of needs they value most. Social businesses are uniquely positioned to deliver these life-enhancing essentials to those the free market has traditionally left behind. Westaway's thought provoking book should be read by anyone who is interested in learning about how business can be harnessed as a force for good.”-Jordan Kassalow, Founder, Co-Chairman, VisionSpring, on the Forbes Impact 30 List"Kyle Westaway has the unique ability to distill complex ideas into simple authentic truths, and he's created a masterful gift in Profit & Purpose."-Adam Braun, Founder of Pencils of Promise and New York Times bestselling author