The Key to Finding Your Company's Mission? It's in Your 'Also.'

“Gam vegam”— it’s something I often hear when I’m walking the streets of my home city of Tel Aviv. It means “also and also,” a way to explain two things that, on the surface, might be contradictions. This and that.

As a co-founder of Venn, a company focused on strengthening connections among neighbors, it was obvious pretty early on that our company’s “also” would be social impact — something that’s been part of our mission and even our company’s inspiration from the very beginning.

When we launched five years ago, this was a radical idea to a lot of people we met — including investors. Today? Investors now try to guess the long-term profitability of a company by scoring its efforts in terms of sustainability and social responsibility. The word is out that companies with good ESG (Environmental, Social and Governance) credentials perform better.

In a Gen-Z world, lead with your “also”

Thanks to the influence of Gen Z and millennials, purpose and profit are now more entwined. Today, 80% of purpose-led brands outperform the market. It’s no secret that companies need to be about more than just the P&L in order to attract top talent. More and more, millennials won’t take a job at a company if it doesn’t have values aligned with social responsibility. They’ll even take a pay cut if it does.

And these shifts have accelerated in the post-pandemic world, where consumers say that the pandemic made them rethink what’s important to them in life and how they spend their money. Just look at some of the brands that have emerged as leaders during this challenging time — including buzzworthy new brands that have managed to cut through the noise. They all have something notable in common: They’re driven by their “also.” And that “also” is social impact.

Take Chewy, for example, the ecommerce one-stop-shop for pet owners that also happens to be among the fastest-growing online retailers. Last year, the company partnered with the Humane Society to donate $1 million in food and supplies to rural areas impacted by Covid-19. Or meditation app Headspace, which helped people cope with pandemic stress — and also gained users — by offering free subscriptions to unemployed workers and first responders. Warby Parker has always integrated “also” into its brand identity with its “Buy a Pair, Give a Pair” model. Last year, the company experienced a surge in demand for its online services. It also partnered with VisionSpring to distribute PPE and relief kits to more than half a million people in high-risk countries.

Impactful? For sure. But these efforts wouldn’t have been as successful if they didn’t fit in with each brand’s unique “also.” For Chewy, it’s animal care. For Headspace, it’s mental wellbeing. In an era where every CMO is terrified of the word “cancel,” consumers are quick to point out efforts that come off as greenwashing or just empty promises. But when a brand taps into the passion points of its consumers, it can rise above the noise. 

Just look at Sephora. Last year, the company responded to accusations of discrimination in its stores with meaningful action. The brand launched a study on racial bias in retail, resulting in sweeping changes that experts say will lead the industry. Sephora also learned that its consumers sought more representative products, including the full array of Black skin tones. Today, Sephora is part of the 15 Percent Pledge, dedicating 15% of shelf space to Black-owned beauty brands, and it has expanded recruiting efforts for Black entrepreneurs.

Doing good is good for business

With younger consumers demanding that brands align with their values, it’s not surprising that some legacy companies are now wearing their “also” as a badge of honor. Ben & Jerry’s is 50 years old, but with its unflinching political stance, recently launching a new flavor and action campaign supporting criminal justice reform, it’s right up there with Glossier and Zoom in terms of relevance. Patagonia has always been on the cutting edge of sustainability efforts, but last year it doubled down with an upcycling initiative that could flip even the most skeptical consumer.

At Venn, the seismic shifts we’ve all experienced over the past year have only deepened our commitment to social good. As “The Neighborhood Company,” we improve real-life connections for our neighbors, while at the same time increasing demand, retention and net operating income (NOI) for our real-estate partners. This means more people want to come, stay and shop local. Our “also” means we’re able to combat loneliness on a larger scale, even as we serve our real-estate partners. 

For us, doing good has been good for business. And we’re not alone. With social impact now a key driver of business success, Nasdaq president Adena Friedman has said, “2020 is increasingly looking like it may be the ‘tipping point’ year for ESG investing.” Today, 70% of people want to know how brands are addressing social and environmental issues. And it’s a trend that’s not likely to slow down as we all figure out the “new normal” of post-pandemic life.

When they launched in the 1970s, Patagonia and Ben & Jerry’s weren’t as vocal about their social-impact efforts. Today, it’s the entire conversation. And that means business results: 90% of consumers today say they’re more likely to shop from companies that take a stand on social matters, and 80% say they’ll even pay more for products from such brands.

How to define and execute on your “also”

When founders define their “also” from the very beginning, it serves as a company’s North Star. Social-impact results are now the metrics that investors are most interested in talking about. In fact, social-impact potential has become a way for VCs and investors to figure out which startups to fund.  

By being clear about your “also” from the beginning, you’ll align with the right investors who share your vision, which is crucial as a company grows. You’ll bring in partners and recruit talent who share your values. All of this will help you and your partners stay on track with your goals. And you may even do some good while you’re at it.

Clearly, the business world is shifting. And we’re all looking at success differently — whether it’s from the viewpoint of a founder, investor or consumer. With social impact fused into our definition of success, we’re sure to see more companies setting ESG KPIs side-by-side with business goals. In other words, not just their “why,” “what” and “how” — but their “also.”

And I’d say that’s also a good thing.

News Related


What are tk domains? The small group of islands that dominates the internet

The world of web domains can be a complicated subject and can often be a considerable expense for entrepreneurs just starting out. For this inconvenience, a company located in an ... Read more »

Free courses from the best universities in Argentina

For many years, Argentina has become a host country for foreign students. The educational quality of its universities, as well as the facilities of its public universities to start an ... Read more »

Internet Rips Into 'Laughable' Space Force Uniform Reveal: 'The Ugliest Dress Uniform In the U.S. Military'

Just in time for Halloween, the Space Force has released photos of the prototype for its new uniforms, which many are pointing out look more like a costume than an official outfit. ... Read more »

Homebuilder Confidence Edges Up After Recent Plunge to 13-Month Low

Homebuilder confidence inched up in September after falling to its lowest reading in 13 months in August, although optimism was capped by hiring difficulties and building material supply chain issues, according to ... Read more »

WHO gives date for the end of the Covid pandemic, but Bill Gates says he has the 'only solution' to end the crisis

Many have speculated about when the Covid-19 health crisis that has the world in check since 2020 will end. Now, the World Health Organization (WHO) gave an estimated date for ... Read more »

5 Simple Strategies for Landing High-Ticket Clients as a Coach

As the online coaching industry becomes more saturated, it can quickly be a challenge to stand out as an influential leader. As most coaches charge an average market rate by ... Read more »

XPeng Inc. Sponsored ADR (XPEV) Gains As Market Dips: What You Should Know

XPeng Inc. Sponsored ADR (XPEV) closed at $36.74 in the latest trading session, marking a +0.41% move from the prior day. The stock outpaced the S&P 500’s daily loss of ... Read more »

The Multi-Family Office

Family businesses are made up of complex webs of personal and professional relationships that are precariously entangled. And there comes a time in the life of every family-owned enterprise when ... Read more »

How Success Happened for Aaron Levant, CEO of NTWRK

Aaron Levant, CEO of the No. 1 livestream shopping app NTWRK, was born with a natural entrepreneurial drive. As a dyslexic high school drop-out and bold innovator, the Los Angeles-born ... Read more »

5 books for unstoppable female entrepreneurs

I’m going to be completely honest: I don’t think the books themselves have genre. In fact, I think we can all learn a lot if we allow ourselves to experience ... Read more »

This is how the Canasta Rosa marketplace continues to support Mexican entrepreneurs

Canasta Rosa continues with its actions to support Mexican entrepreneurs , both micro and small businesses, to enhance their growth through training, tools and financial support, connecting them with strategic ... Read more »

ViacomCBS (VIAC) Dips More Than Broader Markets: What You Should Know

ViacomCBS (VIAC) closed at $38.66 in the latest trading session, marking a -0.51% move from the prior day. This change lagged the S&P 500’s daily loss of 0.08%. – Zacks ... Read more »

Texas Instruments (TXN) Gains As Market Dips: What You Should Know

Texas Instruments (TXN) closed at $192.96 in the latest trading session, marking a +0.19% move from the prior day. The stock outpaced the S&P 500’s daily loss of 0.08%. – ... Read more »

Adobe Systems (ADBE) Q3 Earnings and Revenues Top Estimates

Adobe Systems (ADBE) came out with quarterly earnings of $3.11 per share, beating the Zacks Consensus Estimate of $3 per share. This compares to earnings of $2.57 per share a ... Read more »

3 Tips for Budding Entrepreneurs

Charting your own course in business requires a certain appetite for both risk and reward, and often demands hours logged in isolation without the infrastructure or perks afforded to cushy ... Read more »

OxyContin created the opioid crisis, but stigma and prohibition have fueled it

People around the world mourned loved ones on International Overdose Awareness Day on Aug. 31, 2021. NurPhoto/Getty Images The highly contentious Purdue Pharma settlement announced Sept. 1, 2021, comes at ... Read more »

The 5 wounds you need to heal to spread your wings in business

DESIGNECOLOGIST vía Unsplash Entrepreneurship is a path that entails multiple learnings and satisfactions. The decision to start a business is governed by the mentality of gaining autonomy, personal fulfillment and ... Read more »

3 Strategic Shifts that Will Help Your Business go from Six to Seven Figures a Year

You’ve likely come across a great many business owners’ social media declarations of how they built a seven-figure coaching, consulting or marketing agency. It’s worthwhile, even while regarding such self-promotion ... Read more »

Stop Complaining and Change Your Mindset to Become Wealthy

I remember hearing a story as a child called the Farmer’s Donkey. One day, a farmer’s donkey fell into an abandoned well. The farmer, fond of his faithful animal, tried and ... Read more »

Can ETFs Gain From Upbeat US Homebuilder Confidence in September?

The U.S. housing sector saw a bright spot with strength in housing demand and declining lumber prices. However, headwinds like increasing construction costs and continued material supply-chain worries along with ... Read more »

How to Create a Lasting Trend in the Food Industry

When I first launched Bobo’s in the early 2000s, healthy food ingredients were rarely talked about. Following some research around lifestyle and consumer topics, it became my objective to ensure the creation ... Read more »

FedEx (FDX) Lags Q1 Earnings Estimates

FedEx (FDX) came out with quarterly earnings of $4.37 per share, missing the Zacks Consensus Estimate of $4.96 per share. This compares to earnings of $4.87 per share a year ... Read more »

Thor Industries (THO) Dips More Than Broader Markets: What You Should Know

In the latest trading session, Thor Industries (THO) closed at $106.14, marking a -0.59% move from the previous day. This change lagged the S&P 500’s daily loss of 0.08%. – ... Read more »

2 Tech Stocks to Buy on Dips Before Q4

It’s been a volatile start to the week for the major market averages, with the S&P-500 (SPY) and Nasdaq-100 Index (QQQ) both sliding more than 3% to start the week ... Read more »

10 books to read when you're stuck and need motivation

We all feel the same. Listless, overwhelmed, hopeless. The truth is that this is up to a certain normal level because we are going through a historical pandemic. Foto por ... Read more »

CDMX vaccination: Second dose for millennials from Álvaro Obregón, Cuajimalpa and Xochimilco

Eduardo Clark, general director of Technology and Intelligence of the Headquarters of the Government of Mexico City, reported that this week phase 29 of the vaccination campaign against COVID-19 begins ... Read more »

To Be Incredibly Productive, Do One Meaningful Task Each Day

Here’s an obvious statement: Simply being at your desk for eight hours isn’t the same thing as getting work done. But surely there’s some logic to why the 9-to-5 grind ... Read more »

Find Stocks to Buy with this New Analyst Coverage Screener

The S&P 500 dropped 1.7% on Monday, for its worst showing since May. The fall followed worries about growing troubles in China’s property market as Beijing is increasingly focused on ... Read more »

The Most Important First Step When Starting a Business

Whether you call it the mass exodus, the Great Resignation, re-evaluating your life, or a midlife crisis, there are scores of people leaving traditional jobs to start their own businesses. However, ... Read more »

Cactus Is the New Coconut, and These Founders Are Going All In: 'We Decided to Drop Our Lab Coats, Put on Our Cactus Suits and Chase the American Dream'

About 15 years ago, coconut water hit the U.S. market and exploded in popularity with its purported health benefits. Though the craze has slowed somewhat in recent years, the drink ... Read more »

Future Of Credit Cards: Will Virtual Cards Takeover?

In the last decade, people have moved more towards digital shops than the traditional ones, which has increased the use of card payments as well. This shift gave the fintech ... Read more »

What is landlord insurance and why buy it?

Renting your house, apartment, warehouse or land can become an excellent option to obtain an extra income. In this context, having landlord insurance is essential for your peace of mind ... Read more »

Steel Dynamics (STLD) Dips More Than Broader Markets: What You Should Know

Steel Dynamics (STLD) closed at $57.75 in the latest trading session, marking a -0.64% move from the prior day. This change lagged the S&P 500’s daily loss of 0.08%. – ... Read more »

Ask a Startup Lawyer: Understanding Your BATNA (Best Alternative to a Negotiated Agreement)

So, you’re ready to negotiate with your VC, and you know this will be a zero-sum game. Every decision is a shift of risk, reward or control. You’ll need to be prepared ... Read more »

Beat the financial woes with budgeting

The past one-and-a-half years has brought uncertainty in everyone’s life, especially in terms of finances. Many have lost their job, while others are working on lower salaries than before. More ... Read more »

Stitch Fix (SFIX) Tops Q4 Earnings and Revenue Estimates

Stitch Fix (SFIX) came out with quarterly earnings of $0.19 per share, beating the Zacks Consensus Estimate of a loss of $0.14 per share. This compares to loss of $0.44 ... Read more »

4 Traits That Have Helped Small Businesses Survive the Pandemic

About half of Americans have deliberately shopped more at small and locally owned businesses during the pandemic, and many have rallied especially hard around small businesses with four particular characteristics, ... Read more »

Uber Stock Jumps 11.5% on Bullish Q3 Outlook

Shares of rideshare giant Uber Technologies UBER rallied on Tuesday after the company updated its third-quarter outlook. – Zacks Uber now expects gross bookings in the range of $22.3 billion ... Read more »

9 books in Spanish you must read to take your business to the next level

Entrepreneurs are always looking for new ways to inspire ourselves, either to develop innovative business ideas or to learn from those figures who have already achieved what we dream of. ... Read more »

Time To Up Your Game With This Platform

The 2021 global gaming market will generate a revenue of $175.8 billion and is projected to exceed $200 billion by the end of 2023, according to a report by Newzoo ... Read more »