How to create a successful and profitable business, but give back to your community as well.

Blake Mycoskie, the CEO of TOMS Shoes has a new book, Start Something That Matters, that looks at the success of Social Entrepreneurs. As an accomplished Social Entrepreneur himself, he explores why it is not only possible, but beneficial to create a business model that is purposeful in its philanthropy. This review comes on the heels of another Click. Buy. Help. post about the Social Entrepreneur definition which was an observation of the Social Entrepreneurial spirit that lives at Click. Buy. Help.

First some background.

In just five years, Blake Mycoskie has built substantial success with his company, TOMS Shoes, that has philanthropy at its very core: for every pair of shoes he sells, he gives one pair away.  He calls it “One for One.”  To date, he has helped over 1 million people with the free pairs generated from a like number of sales.

In addition to TOMS Shoes, Mycoskie has launched TOMS Glasses using the same philosophy.  One could argue that shoes and eyeglasses are two of the most basic needs we all have.  His passion and successful business acumen are helping those most in need acquire those items. There is a certain Zen-like quality to the balance he has struck in his business model. In college, I had a Business Ethics professor that defined ethical as, “doing more than you are required, but not as much as you’re allowed.”  Blake Mycoskie certainly is not maximizing his personal profits and simultaneously, is giving more away than would normally be required of him.  I wonder if he ever took a class from the same professor. Read on for how he is extending his One for One philosophy to book sales.

Now, the book itself.

Blake Mycoskie wrote Start Something That Matters to not only share what he’s learned, but to also tell the story of others who share his attitudes – and success. He makes a strong case that aspiring to profits isn’t a bad thing.  In fact, when paired with a desire to be philanthropic, it becomes rewarding on several levels.  It of course makes one feel good, but it also is proving to be a key component of his business model – and one that continues to provide benefits through the support of customers

As part of his research, Mycoskie reviewed the successes (and challenges) of many people he knew, and used their stories as a framework for telling his own story.  Some of the entrepreneurial leaders about which you will read:

  • Tony Hseih of Zappos
  • Lauren Bush of FEED Projects
  • Eric Ryan of Method
  • Scott Harrison of charity: water
  • Tim Ferris of 4-Hour Workweek

One poignant story he tells is that of a woman with three children who shared the use of one pair of shoes. With the TOMS Shoes awarded to her, all three children could not only attend school every day, but do so with improved self esteem.  The reward he must feel from these kinds of stories must be humbling.

One Book for One Book

His One for One model is continuing with the book itself.  For every book sold, a needy child will receive an age-appropriate book to read.  Of the many publishers who vied for the rights, Mycoskie went with Random House.  Theirs was the only proposal that included accommodating the One for One model.

The benefits related to One for One extend past the direct impacts to children and those less fortunate, and apply to other entrepreneurs.  (As a fledgling Social Entrepreneur myself, I would be the first to admit these definitions actually could include many entrepreneurs as well!) Grants will be made available from 50% of the book’s proceeds.  These grants will be made available to people whose vision or venture includes a socially responsible component.  From new business or product concepts to projects benefiting a local community, to simply adding a philanthropic element to existing operations, these grants will extend the learning that comes from the book’s contents.

Cover the Bases

When buying Start Something That Matters, you tick a number of boxes:

  • You get a great book with intriguing Socially Responsible business insights
  • You increase the grant pool to allow Blake Mycoskie to extend to others the opportunities for additional philanthropy
  • As a bonus, if you buy some shoes, you directly cause someone in need to receive a new pair of shoes

Click. Buy. Help.’s philosophy is simple:  Click through to your favorite retailer from you organization’s page on the site.  Buy from that retailer as you normally would.  Help your favorite non-profit organization.

Blake Mycoskie’s pitch is equally simple, and the description is even shorter:  Buy the book.  Buy some shoes.  Help others.

A simple sentiment that matters.