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Welcome to the Impact podcast. I'm Eddie Wilson, here to help you visualize what others cannot see, create opportunities where others have failed, and push you to build empires where once there was empty space. Let's embark on this journey together and make a difference in this world. In this podcast today, we're going to talk a little bit about what I call cause capitalism. Over the past, let's say, 20 years or so, there's been a concept or a movement tied to the word sustainopreneurship. This came out in the early 2000s and there are a lot of great companies that do well with this concept. As a matter of fact, you know three of them very well. The first one is TOMS Shoes. Many of you have seen TOMS Shoes. You know that not only do they build eco friendly shoes, they also have a buy one, give one model where they build a sustainable eco friendly shoe with. But then as you buy one, it has enough profitability in it that it purchases another one that's given away for free overseas to someone that's less fortunate. While TOM Shoes is a great model for sustainopreneurship, oftentimes the quality is lacking. And so I don't know if you've ever wore a pair of TOMS shoes, but the very first time I wrote them on my, I wore them on my motorcycle, I lost the entire bottom of one. And I was brought to this concept. I was wondering if a person around the world or on the other side of the world was also wearing a pair at, at my. At the same time based on my purchase and where was riding a motorcycle along with me, and did they lose the bottom of their shoe and were they disappointed in this free pair of shoes? Right. So, like, I think there are certain elements of sustainablepreneurship that you have to be very, very careful. And one is quality and value. The second one that we see is the. Is to me one of the greater. One of the greatest examples of sustainopreneurship, which is Patagonia. Patagonia is a clothing brand that uses again, eco friendly materials. And so much of what they do is to provide not just profit that then leads into helping other people in very specific parts of the world, but it has a very specific missional element to it. And I think Patagonia does maybe what TOMS does not, which is provide more value as well as reliability and ultimately quality of product. And then the third one, which today is a very, very hot topic, is the company Tesla, the brilliant Elon Musk not only set out on a mission to build unique cars. But he did it in, in a sustainable, eco friendly way. And by American car standards, today it's actually affordable. And he does it within the realms of American manufacturing. So very, very interesting concept. But today I want to talk about you because it's not just enough to look and to participate and to be a part of these sustainopreneurship models and to support them. But the question is, what do you do with it? What do you do with that concept? Because I'm going to just talk for a minute about your responsibility as an American, as not just an American citizen, but someone who's producing commerce, producing capital, creating in the American economy. We are one of the strongest economies in the entire world. And based on this opportunity to live inside of the American borders and live the American dream and have the ability to create wealth and opportunity through the, you know, through small businesses, through working for other companies, we have a responsibility. And I just want to make this statement. I am a capitalist through and through. I love capitalism because it's the only model that in the world's stage over the last 2,000 years that we've been studying these economic models that it works and it actually creates sustainability. But there is a problem with capitalism and that is this nasty word called greed. When capitalism is used and used for oneself, it actually ruins the system and what you're. And for those of you that oppose this concept of capitalism, you're not opposing capitalism, you're opposing greedy people in capitalism. Because if capitalism is done right, it actually makes a massive impact on society. So for me, I'm not a sustainopreneur. I don't necessarily believe in all the concepts of sustainopreneurship, which we'll talk about in just a second. But I am in fact a cause capitalist. Not just a capitalist, but a cause capitalist. I believe that my company should be profitable and in that profitability, I believe they do have a responsibility to the economy and to the people that it serves. And I believe that as I make profit, it should actually go to make greater impact on this world. So let's talk about these concepts today. Sustainopreneurship, which if you followed this or you've looked at any of these companies, is what, what we would say is it's entrepreneurship that focuses on solving social or environmental problems through sustainable business practices, which I think is in concept, good. And really it's this concept. And the part of the concept that I like is this innovation with a cause. Don't just tackle a problem in the world, tackle a problem that can be solved or solve multiple problems all together. The underlying kind of model of sustainopreneurship is what's called tripling. The bottom line, you're tripling. It's, it's making impact on people, it's making an impact on the planet, and it's making impact on profits. Now, while I love those concept, I think sometimes, just like the TOMS model, one of those can compete with the others. And so we have to be careful to create the right balance. It also has this concept of long term thinking versus short term thinking. It's not just about short term profits, it's about sustainability. Can this stand the test of time? Can it create sustainable resources for those that it's trying to help? And then obviously I gave you the example of Patagonia, TOMS and Tesla. Now the problem with this is, is that the, the, the world at large, the business world at large constantly wrestles with is this a for profit model or is this a nonprofit model? And I am 100% in belief that this is a for profit model. I think oftentimes when we take on the responsibilities of, of entrepreneurship in the nonprofit world, it sets the wrong precedent. And I believe that business by and large should create profit. If you can't create profit, then you've failed at the very first word of sustainopreneurship, which is sustainability. Right? Like you, you cannot be sustainable without profit. Think about every nonprofit, they all have a lifespan. If you studied nonprofits, and I have one, it's the biggest issue is, is sustainable sustainability of nonprofits. You know, it's like, how do you keep them in perpetuation? I've built now a nonprofit impact others. That's in over a hundred countries. But my mind today, in my mid-40s, is not how do I do more around the world, it's how do I do more around the world? And as I pass it on to the next generation, how do I endow it? How do I make sure that it's sustainable? How do I make sure that it doesn't go away? Because all the good that I can do in my lifetime could crumble if I pass on this burden of, or this financial burden to sustain it. And the good thing about capitalism is it's this concept of if I create the right product or service and I serve people, I solve problems, then the world at large, the business world at large, will reward me. And if I do it in a sustainable way, then the best product, best service wins. And if I can make a profit at it, then it will. In fact, sustain itself. So I love nonprofits. Nonprofits are great at awareness and short term relief, but they often lack scale, capital, and sustainable models. It's one of the things that I'm trying to tackle in my own nonprofit. It's why I actually marry my for profit business with the nonprofit. If you look at how I've always structured my nonprofit, it's always been in second place to the businesses that I'm creating because there has to be some sort of sustainability. And oftentimes the giving models of a nonprofit do not allow for scale or sustainability. So I get asked all the time, and maybe you're asking the question today, should I start a nonprofit? I've got a cause or I've got this belief system, or I have this passion. And I believe that nonprofits are important for the structure of how the capital moves. However, I believe that a nonprofit should always be tied to a profitable model. Until you can create enough capital that sustains the nonprofit. I think it should be tied to a for profit, and I think a for profit is, is a great complementary piece to a nonprofit business. So what I would say is, is if you've got a passion for a nonprofit or for a cause, my question would be not should you start a foundation or should you start a nonprofit to take your cause on? My question would be, what are you doing to create sustainability so that when you tackle this problem, when you tackle this cause, you actually have the resources to do something about it. It's like people come up to me all the time and they're like, I want to start a nonprofit. It's like they magically think that they start this nonprofit, they put it out there, and the world is going to reward them with gifts and donations, and all these big corporations are going to give to it. And the answer is, that's not what's gonna happen. You're gonna have to work your tail off to get very, very small donations when you could do the exact same work in the for profit world and give double to that nonprofit if you had apply yourself in innovation. This is cause capitalism. That's why it's a differentiator between sustainopreneurship and capitalism. And again, business can drive systematic changes faster than a charity can. Business can drive systematic change faster than a charity can, oftentimes as a charity, because you're so bound to those who donate to you. You have to navigate these issues and not offend those that are donating. And so when you have your own sustainable source, that then is feeding the nonprofit, right? Which is a Great vehicle to help both domestically and internationally. Then all of a sudden you get to, because you are the resource, you get to make the choices based on what you want to do. I have a friend that started a nonprofit, left his place of employment, built this nonprofit, had enough donations that it covered his salary, and then he was off to the races. And so his job was fundraising, and he was doing these very specific things. And he had a big donor that he was courting. And he was so excited because this big donor is going to allow all of his dreams to happen. The big donor demanded a board seat in his nonprofit. And within a year, this big donor pretty much took over the nonprofit because he had the weight of, well, if I choose to walk away, then we can't do these things anymore. And so because he had the money, he began to steer. And within two years, my friend had stepped away from his own nonprofit to go back to work. And now he's passionately trying to build resources so he can start a nonprofit again. Think about how irritating or, you know, difficult that would be to have your passion essentially taken away from you. So my belief is, is create sustainable resources, then create the vehicle, the nonprofit. There's a lot of case studies, but one of the things that we could be solving. And so next kind of step, what are you doing and what problems are you solving? If you would like to create a business that models cause capitalism, you do have to solve problems. And one of the old adages that my father always told me was that he would say, eddie, if you solve people's problems, you'll never lack for business. Think about the problems that businesses solve. And the businesses that solve the greatest problems always have the greatest successes. That's why technology companies soar, because they're typically solving a problem and they're typically solving it in a very sustainable way. Think about companies like Uber or Netflix or all of the companies that you've seen rise over the past 10 to 15 years. Most of them are solving a small but fundamental problem. When you solve that problem, you never lack for customers. So what problem are you solving? And so now we go back to the concept of sustainopreneurship. Once you actually look at the world around you and say, what business could I create? What problem could I solve? Now we can walk into those concepts which, you know, to me, I've been looking a lot at investing in solar energy startups, right? Like solar energy is, is a very sustainable source that can solve problems, but done in a for profit way, could also solve a problem in some of the global regions that we serve. I've also been looking at clean water tech companies. We are digging clean water wells all over the world and there needs to be some breakthroughs in technology. There are some rural areas that water filtration and issues, and I've been looking at some amazing technology and it's been fascinating to watch people innovating in this space of water. And then I also been looking heavy at social enterprises that employ people like former prisoners or homeless or people that are struggling to get back on their feet. And we're doing things like that in places like Mexico and Nigeria and Pakistan, where we are essentially taking someone who struggles to find gainful employment and then use the business to essentially train. Now, all of these things work in tandem, but they all should have one thing in common, and that is they should be striving for profit. If you are not striving for profit, then you're going to lose the right to continue to influence and move that business forward. You know, I get a lot of flack in this area because I speak so emphatically on this, on this idea of cause capitalism. And I would like to challenge a few of you. And to me, I would have no problem with a debate on this topic. And for me, one of the areas that I get debated, I've been debated in this kind of sector and realm is in the space of religious construct. And so one of the arguments, I was in India and having this conversation at a university and kind of preaching this idea of cause capitalism. And I had a Hindu man who thought he was going to, who was going to oppose me, but he knew that I had kind of Christian faith roots. And so he said, what about this idea of what would Jesus do? Right? And he said he was kind of like opposing me on this idea that essentially Jesus wasn't a capitalist. He actually made this statement while we were debating. He said, I believe that Jesus would be more of a socialist than a capitalist. And I pointed out to him, I said, you know, it's interesting, I said that Jesus, I don't believe, called us to give handouts. He called us to actually make disciples and transform lives. Like. Like Jesus didn't. Yes, while he did give to the poor, the mandate was to love and to disciple. It was to train other people up. And I think that there's a misnomer because as we look at kind of faith construct, which oftentimes is where I get the largest opposition, you have to look at the teachings of Jesus if you're going to go down this Path. And one of his great teachings was tied to the parable of the talents. He talked about how the person who did more with what he had was given more and the person who hid it in the dirt was. Everything was taken away from him or her. And so I think that even inside of the faith based construct, if you look at the life of Jesus, I don't think that you could make that argument. I think that still the idea of cause capitalism, working, using the talents you have in order to produce more and then giving to the poor and then producing opportunity for others, I think is the actual model of what was presented in kind of the biblical construct. And so for me, as I break this down in my own life, I don't think it's in opposition to my faith. I think it's in correlation to my faith. And then some practical takeaways for you because as you're listening to me talk about this, it's all good and well, but it's like, but I have a dry cleaner, I'm an electrician, I'm an H VAC provider, I am a mortgage broker, whatever it is, how do I actually involve myself in something like this? And so here's some practical takeaways. Number one, what problem are you solving and for whom are you solving it? Right, Your business is solving a problem and if it's not, your business is going to be short lived. So first of all, we have to identify who are we solving a problem for? Next, we have to, I believe, look around society and determine can I solve that problem for someone who has the ability to pay and is there enough profit in what I'm doing to also then go solve it for someone who, who doesn't have the ability to pay? You know, if you're in the, let's say the building industry, projects like Habitat for Humanity and other places like that are a great place where if you're an electrician, make enough profit off of those who they have the ability to pay. Cause capitalism. And then can you actually go give your time to go work for someone or do something for someone who can't pay? Right? Like that's a great first start. Who are you solving the problem for and are you willing to solve it for someone? If the people that you're solving it for have the ability to pay and you're profitable, can you now solve it for someone who can't pay? That's step number one, right? Look at the world around you. Can I solve that for those who cannot pay? And then next make sure that you are doing it and have the mindset of values and quality. Right? Value and quality. Make sure you don't make the mistake of TOM shoes, which is I'm going to have this great concept of buy one and give one, but the product is so crappy that it's not going to sustain itself. Right. Like I'm not going to go buy my second or third pair of TOMS shoes when they fall apart. And when they fall apart, I start to feel guilty about the person overseas that received the pair because I'm wondering if they're going to fall apart as well. So make sure that you're doing what you're doing not just for profit, but, but it also has the balance of quality and value. And then next, sustainability is what you're doing sustainable. You know, I always talk about the five phase of business. Everything from, you know, phase number one is startup. Then you move into perseverance, which is kind of the pre profit, you're in and out of profit phase, then viability, then scale, then succession in viability. Phase number three, which is what all small business owners should be striving for. You should have this element which is sustainability. I think that you should be actively working the single points of failure out of your business. Because those single points of failure, what that is, is if you remove any element, any person out of your business, does the business fail? If that is true, then it's not sustainable. How do you cross train? How do you build redundancy? How do you do things that do not allow your business to fail? Fail? Because if you build a sustainable business in a capitalistic society and you tie it to creating output, the last output, to help those that need impact, right, Then the last thing you want to do is resist a sustainable model in your business. Because then when your business fails, the output fails to the impact kind of component that you've tied it to. And then lastly in your business measure impact, not just income. There are three KPIs that most businesses measure as they deepen their understanding of business. They measure their key performance indicator, KPI, key performance indicator. They measure their key process indicators. That's when people are actually starting to measure and systemize their business. And then sustainable businesses also measure their key profit indicators. The next book that I'm coming out with that I'm almost finished with is the fourth KPI and it's the key purpose indicator. The key purpose indicator. And I'll release that book in short order very soon. But to me we must be measuring impact, not just income. Are you actually Is there on your scorecard or your stoplight report or your, your weekly monthly measurement, can you measure the impact you're making? Do you know? Right. Like, one of the things that we do inside of the building here of collective influence is I talk about the number of children that we feed and educate on a daily basis. You know, I did a lunch and learned yesterday and I started off the lunch and learned with my own staff saying, here's the latest on impact others. We're up to 5,200 children that we're feeding and educating on a daily basis. Why? Because that is the impact measurement. And so if you're not measuring it, if there's no focus on it, then you're just a capitalist, not a cause capitalist. And then the last piece I want to do is just call you to action. Call you to action. The world does not need more nonprofits. It needs more purpose driven businesses that last. I'm going to say that one more time because I feel like this is the conversation I have with so many people. But the world does not need more nonprofits. It needs more purpose driven businesses that last. First of all, make sure your business can stand the test of time, make sure it can last, and then use the profits to go make impact with it. I think that you should see yourself in the light. And I would say I think that we are all called and we all exist to be redemptive agents in the world. And I kind of try to put myself into that framework on a daily basis. Is that as I kind of go through my morning routine, I think about being a redemptive agent. What is a redemptive agent? A redemptive agent is someone who sees the good in other people. And while they may not be getting it out of themselves or they may not be performing at their highest level, I can see it and ask them or push them to perform at that level. And not only that, I can take pieces of this world around me. Right. Maybe it's a business or things that are failing and I can actually bring it back into success, but not just success for success sake or greed's sake, but to actually then create a waterfall effect, to actually create bigger impact on the world. And so do you see yourself as a redemptive agent or one who just needs to be redeemed? You know, like, are you still struggling to get to your highest and best self? If you start off your morning, think through, how do I become my highest and best self? And then don't just focus there, focus on the people around you. Oftentimes, if you will focus on the other elements of society around you and how to redeem and how to create to be a redemptive agent towards them, you are ultimately living at your highest and best use already. Right? So instead of focusing on self, focus on others and, and what you can do there. And automatically you begin to live at your highest and best use. And then next I want you to go on this journey with me. So here's the ultimate ask. I want to know your ideas on not just sustainopreneurship. What can we create to make impact in the world, but what can we do together as a community? Right? Like I don't want this podcast just, just to be mentorship or just to be my philosophies or just to be the interviews that I bring in, but a community of people who have like thought, who want to make impact on this world. If you're listening today, you've made it all the way to the end of this podcast. I want you to consider what would it be like as a community to grow in this fashion to make sure that we're not building capitalistic businesses just for greed or self sake. Right? But to build something that makes sustainability, that helps impact others, that can't have their or that can't impact their own lives and create massive change in this world. That's what I'm calling you to and I want some response. I want you to hit me up on social. I want you to respond to this podcast, tell me what your ideas are, how can I support you, how can you give me ideas? How can we collaborate together to make sure that, that the connection, the energy between all of us is not just there to create more for greed or self sake, but to create more to then expand and expand into areas where we can make impact around the world.