A step-by-step guide on how to become an impact-driven business in 2023

Insights Apr 13, 2023

More and more people today are understanding that there’s enormous ‘mileage’ in moving from being Purpose-Driven to becoming Impact-Driven.

They realize that:

  • When you do it right, you can measure AND track your impacts whereas purpose is usually a set of ‘hopefully’ inspiring and aspiring words.
  • There’s a huge difference between saying something and actually DOING something.
  • Governments (the Australian one is the latest to do it) are ‘calling out’ companies where the actions don’t match the words.

But, as much as they realize the difference, there still seems to be a lack of ‘how-to-make-it-happen’ material. Today, we’re fixing that lack for you with your step-by-step guide on how to become an impact-driven business:

Step 1: Know where you’re going

Traditionally, people start with Mission and Vision statements. And we get that. But as Tim Duggan points out in his ‘Cult Status’ book, there could be a better place to start. And that’s defining the IMPACT right up front. That means being as specific as you can on the numbers, bearing in mind your values and the things you hold dear — what it is that you stand for? What specifically do you want to achieve? And once you have that, it becomes your ‘WHY’ — what it is that gets you up in the morning — literally the driving force behind everything you do.

And of course, this is underpinned by  the guiding principles that shape your company's culture and decision-making. The B1G1 team of dedicated member success managers can walk you through the entire process so that you feel comfortable about how and why you are making the impacts you have chosen.

Cult Status: How to Build a Business People Adore

Step 2: Identify your impact goals

Once you have a clear understanding of where you’re heading and why, the next step is to identify your impact goals. What positive change do you want to create in the world? It could be anything from reducing your carbon footprint to improving access to education. Whatever it is, make sure it aligns with your mission and values.

B1G1 - Creating Impacts in Education

Step 3: Assess your current impact

Now that you have identified your impact goals, it's time to assess your current impact. How are you currently contributing to your sustainable development impact goals? What are your strengths and weaknesses? This helps you to identify areas where you can improve and where you can have the most significant impact.

Step 4: Develop an impact strategy

An impact strategy gets specific on the actions you will take to achieve your impact goals. It should also include measurable targets and timelines. Make sure your impact strategy is aligned with your overall business strategy.

Deborah Harris during B1G1x South 2019

Step 5: Implement and measure your impact

Once you’ve developed your impact strategy, it's time to implement it. Make sure everyone in your organization is aware of your impact goals and their role in achieving them. Regularly measure and track your progress towards your impact targets. Celebrate your successes and learn from your failures.

Step 6: Communicate your impact

Finally, communicate your impact to your stakeholders. Share your progress towards your impact goals and the positive change you're creating in the world. Use your impact to differentiate your business from your competitors and attract customers who share your values.

B1G1 Members around the world have literally thousands of brilliantly designed Impact Strategies AND results too.

Brody Lee's Global Impacts

Becoming an impact-driven business takes time and effort, but the rewards are well worth it. Not only will you be making a positive impact on the world, you'll also be attracting customers who want to support you because you’re going beyond. You’re building something that is, in effect, bigger than you.

And that’s another reason why there’s such a move now from purpose-driven to impact-driven.

It’s a seriously great move to for you to make. Right now.

Paul Dunn

Paul is the chairman and biggest supporter of B1G1. He frequently travels around the world inspiring businesses with B1G1 and his amazing business insights.

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