New Five Reasons for Startup: Common Good

Doing Startup for the Right(ish) Reasons

1.25.17

This morning I published the third installment of the Five Reasons for Startup series, and this one is a little more controversial than the rest. I'm trying to balance the pros of doing good with your business the the cons of replacing profit with good works.

I like good people. And I love people who do good. But I'm not going to come out and be all Yeah, go for it. Make the world a better place through startup.

If you were expecting that, I apologize in advance.

I've always been skeptical of social entrepreneurship or startup for the sake of doing good works. Startup with a cause? Awesome. Startup FOR a cause? Raised eyebrow.

Look, I'm a good person, too. Just like you. I do good things. I'm not saying don't blend your personal causes with your startup. I'm saying don't build a startup around a personal cause and expect that the magic of good to be what gets you over the finish line. It very well may and I hope it does. Just don't be naive. All the rules for survival still apply. All of them. You can still waste people's money in the name of charity. If you build something to help others and it fails, that's not OK.

As an entrepreneur, you have to separate business from personal. Always.

But I'll also be the first to tell you that common good should be a big part of your startup from day one. Because if it isn't, then you're no better than the powers-that-be you're trying to take down.

I know. It's a paradox. So let's dive in.

read the rest at: http://teachingstartup.com/five-reasons-for-startup-common-good.asp