Another Entrepreneurship Project of the  Whitman School of Management at Syracuse University

How to Grow Your Business (Without Compromising on Values)

In addition to making revenues and increasing sales, many companies are creating value in the world—through social, economic or other means. You don’t have to sell your company’s soul to make sales. Oftentimes, entrepreneurs find themselves in situations for new clients or customers that could compromise their firm’s core values for an extra sale.

n a blog on The Huffington Post, founder and CEO of Earth-Kind Kari Warberg Block shares some of her personal experiences and how she didn’t want to be stuck in a rut or feel like she had to compromise her own values for the company’s bottom line. So she didn’t! She wanted to grow beyond her sales while at the same time be someone who focused on growing people, planet and profits. Initial market research showed that 70 percent of people didn’t want to use poisons or traps in pest control. But she wasn’t sure that she could convince retailers that her natural product was a better way than the old stand-by methods. Plus, she was from a small town and didn’t know the first thing about getting her product from her kitchen table to the end-user. Luckily, she followed her dream and took a leap of faith—without compromising her original product or intentions. Since then, her company has earned over $40 million in revenue. Kari’s tips to keep your company’s values at the forefront include:

  • Refuse any offers that don’t match your mission: Warberg Block says, “The desire to grow and succeed is sometimes counter intuitive to the decisions you may face.” If your clients or business partners want you to do something that doesn’t fit in with your goals and mission, you have the right to refuse.
  • Staying on point and on purpose will result in growth and belief in your vision: If some people don’t agree with or understand your vision, it’s okay to walk away from them. Warberg Block says that it is important to know who these partners are and what the bigger picture is. There are capital providers who make it a point to invest in B-Corps and socially conscious companies. You don’t have to compromise on your values to find funding.
  • Blueprint for success: A research reveals that by 2020, millennials will comprise 50% of the purchasing population and also shows that those consumers will be more likely to pay more for products that are made responsibly.

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It’s important to stand by your values and engage with customers who believe in your company’s vision and mission.

For more, read the full post: http://www.huffingtonpost.com/kari-warberg-block/how-to-grow-your-business_1_b_6356766.html?utm_hp_ref=small-business&ir=Small+Business

Thanks for reading and until next time… stay WISE!

Image credit: HubSpot

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