The episode delves into the intersection of purpose and profit in business, emphasizing the potential for organisations to create positive social impact while achieving financial success.
Bessi Graham is an entrepreneur, business owner, Angel / VC / Impact Investor, Philanthropist, Coach, Advisor, and founder of Benefit Capital. She shares her journey, philosophy, and actionable insights on leadership, business practices, and the importance of context in driving meaningful change.
Bessi’s Journey and Philosophy
Bessi Graham's career is a testament to her commitment to questioning the status quo and merging the concepts of money and meaning. From a young age, she wondered why society often forces individuals to choose between doing good and making money. This curiosity has shaped her career and led her to develop a "both-and" mindset, encouraging people to integrate purpose into their business practices without sacrificing profitability.
Key Takeaways:
A ‘Both-And Mindset’: Embrace the idea that businesses can achieve both financial success and social impact.
Questioning the Status Quo: Continuously challenge existing norms and explore innovative ways to merge purpose with profit.
The Challenge of Leadership Training
Paul raises a critical point about the significant investment in leadership training worldwide, questioning why many leaders still struggle to navigate complex challenges.
Bessi agreed, highlighting that leadership is often studied in isolation from real-world experiences. She believes that effective leadership requires practical experience, mentorship, and a deep understanding of the context in which one operates.
Things You Can Do Now:
Think Like a System, Act Like an Entrepreneur: Leaders should zoom out to see the bigger picture while being grounded in practical applications.
Real-World Experience: Seek opportunities for hands-on learning and mentorship to bridge the gap between theory and practice.
Apprenticing with the Problem
One of the key concepts Bessi introduces is the idea of "apprenticing with the problem." This means immersing oneself in the context of the issue at hand before attempting to design solutions.
Bessi shares her experiences working in various settings, from high-level advisory roles to grassroots initiatives in places like Papua New Guinea and Samoa.
Things You Can Do Now:
Immerse in the Context: Spend time understanding the local environment, culture, and specific challenges.
Collaborative Approach: Work with local stakeholders to co-create solutions that are culturally appropriate and sustainable.
The Importance of Context
Bessi stresses that context is everything when it comes to designing effective business solutions. Understanding the local environment, culture, and specific challenges is crucial for creating meaningful impact. This approach allows businesses to avoid unintended consequences and ensures that their efforts are genuinely beneficial to the communities they serve.
Things You Can Do Now:
Contextual Understanding: Conduct thorough research and engage with local communities to gain a deep understanding of the context.
Impact Assessment: Establish clear metrics to evaluate the contributions to society and ensure accountability.
Shifting Focus to Small and Medium-Sized Enterprises (SMEs)
Bessi discusses the need for a shift in focus towards SMEs in discussions about environmental, social, and governance (ESG) issues. She notes that much of the current discourse around ESG tends to centre on large corporations, leaving SMEs—who are often the backbone of local economies—overlooked.
Things You Can Do Now:
Inclusive ESG Discussions**: Reframe the conversation around ESG to include the unique challenges and opportunities faced by SMEs.
Support for SMEs**: Recognize the crucial role of SMEs in driving economic growth and social change, and provide them with the necessary resources and support.
Conclusion
Bessi’s insights on leadership, business, and the integration of purpose and profit offer a refreshing perspective on how we can create positive change in the world.
By embracing a "both-and" mindset, apprenticing with the problem, and focusing on the unique needs of SMEs, we can develop more effective and sustainable business models that benefit both society and the economy.
Things You Can Do Now:
Engage with the Ideas: Consider how you can apply these concepts in your own work and communities.
Connect with Bessi: Reach out to Bessi on LinkedIn to learn more about her work and insights.
Bessi’s amazing work serves as a reminder of the potential for businesses, particularly small and medium-sized ones, to lead the way in creating a more sustainable and equitable world.
Through thoughtful leadership and a commitment to integrating purpose into their operations, these organisations can make a significant impact on their communities and beyond.
Share this post