Jibe Can Coach You On Looking Beyond profits: Measuring the positive impact of your business

Business success is something that entrepreneurs rightfully take pride in. However, many entrepreneurs also recognize the broader impact that their companies have on their communities. They understand that a successful business can provide livelihoods for their employees, stimulate other businesses by buying from them, and even offer products or services that inherently benefit others. These impacts are commonly referred to as "impact" by management consultants and some investors.

It's important to acknowledge that these positive impacts are real, and many entrepreneurs incorporate them into their business models and activities. Measuring this impact requires a close examination of how a business is run. This process engages the entire workforce and allows for a focus on areas of strength, leading to improvements in the business. By measuring impact, entrepreneurs can gain a more accurate understanding of their business's true value.

Here's how to measure your impact

 1. Take a closer look at your business: The impact of everyday actions Sometimes, it's easy to overlook the positive impact that a business can have. But by scrutinizing every aspect of operations, entrepreneurs may find that many of their regular activities create value for others. For example, providing employees with fair wages, benefits, and opportunities to learn is a significant way to make a positive impact. Supporting neighbouring businesses by buying supplies locally also contributes to the growth of the local economy. Other actions, such as engaging diverse perspectives, reducing pollution, and donating to local charities, may seem small but can have a significant impact. By recognizing and measuring these impacts, entrepreneurs can build a more sustainable and responsible business that benefits everyone.
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It's essential to remember that impact is not just about social or environmental responsibility. It can also lead to increased customer loyalty, stronger employee engagement, and even financial success. By prioritizing impact in everyday actions, entrepreneurs can create long-term value for themselves and their communities.

2. Don't just recognize impact, measure it
Entrepreneurs who prioritize impact can benefit from the comprehensive and broad-minded approach of the certified B Corp impact assessment. This free and confidential assessment can be completed online in about an hour and covers five categories of impact: how the company is run, how workers are treated, community interaction, environmental management, and the positive benefits of the product or service being sold. The assessment provides specific questions for each category, offering insight into how other successful entrepreneurs have measured and created impact. By comparing the results with peers worldwide, entrepreneurs can get a general idea of how they fare in the full assessment.

3. Give top priority to personal/professional growth and development
Giving top priority to personal and professional growth and development is crucial for individuals who want to improve their skills, knowledge, and capabilities continually. This involves a commitment to learning new things, taking on new challenges, and developing new competencies that enable personal and professional advancement.

When individuals prioritize their personal and professional growth, they can develop a range of skills and knowledge that enhance their performance, increase their confidence, and improve their chances of success in their careers. This can lead to better job opportunities, higher salaries, and greater job satisfaction.

To prioritize personal and professional growth and development, individuals can take several actions, such as enrolling in training programs, attending conferences, seeking mentorship or coaching, reading books, and seeking out opportunities to learn from others. They can also set specific goals for themselves and track their progress towards achieving them.

Overall, giving top priority to personal and professional growth and development is an essential aspect of self-improvement and can help individuals achieve their full potential in their personal and professional lives.

Warren Kirilenko

Warren Kirilenko
Life & Business Coach: B.Ed., BA, M.Ed.
P: 306-229-8611 E: [email protected]
www.jibecoaching.com​