INDEX
Abundance mindset, 163–164
Acceleration:
on Good Business Worksheet, 33–34, 39
for investing in your people, 130–131, 138–139
to leverage making money, 53–55, 63
to leverage spending, 91–93, 101–102
Acquisition:
in core business model, 48, 51–52, 61
innovating through, 51–52
Affordable Care Act, 169
Ambition, in moonshot mindset, 2–5
American capitalist system, 24–28, 154–155
American companies, 25–26
Apple, 176
Asian-American entrepreneurs, 82
Assets, in Equitable Impact Venn Diagram, 31–32
Authenticity:
achieving, 29–32
with embedded donation model, 54
in engaging with social causes, 17–20, 22
in marketing to communities of color, 42–43
social impact role of, 38–39
B Lab, 125
Banking, shifting spending on, 85
Basecamp, 164
Beneficial State Bank, 66
Beneficial State Foundation, 66
Bergdorf, Munroe, 19
Black Owner & Women’s (BOW) Collective, 83–84
Black people, 43–44
historic discrimination against, 44–45
in millennial and post-millennial generations, 43
and systemic racism, 18
(See also People of color)
Black-owned businesses, 81–84
barriers for, 103–104
in New Orleans, 109–110
BlackRock, 28
Blueprint for racial equity, 70–73
Body positive movement, 29–30
Bon Appétit, 19
BOW (Black Owner & Women’s) Collective, 83–84
Brookings Institution, 104–105
Business(es):
changed by changing your system, 170–171
as community partners, 83
in holy trinity of capitalism, 26–28
impact of technology on, 176
integrating equitable impact into, 177
redefined purpose of, 30
Business accelerators, 103–105
Business case:
on Good Business Worksheet, 39
for how you invest in your people, 114–117
for how you make your money, 40–44
for how you spend your money, 80–82
for implementing equitable impact plans, 156–157, 161–162
Business model, 37–76
blueprint for racial equity, 70–73
business case for, 40–44
case study, 73–76
creating equitable impact using, 47–50
creating impact with, 47–50
ensuring that equitable impact is priority #1, 39
for implementing equitable impact plans, 159–160
and Innovate-Accelerate-Decelerate cycle, 50–57
jewelry shop example of, 66–69
marketing to communities of color, 42–45
racial equity underwriting, 65–66
and role of authenticity on social impact, 38–39
understanding your, 45–47
Business outcomes, divide between social outcomes and, 10–12
Business owners, in holy trinity of capitalism, 26–28
Business ownership:
giving employees a part in, 126
and wealth of communities of color, 81–82
Business Roundtable, 30
Buy-in, to create equitable impact, 156–157, 161–162
California State Teachers’ Retirement System, 90
“Campaign for Real Beauty,” 29
Capacity-building work, 153
CapEQ (concept), 151–173
CapEQ Continuum, 155–156 (See also CapEQ Continuum)
as capital + equitable impact, 153–155
changing your system to change your business, 170–171
determining your, 160–162
elements of, 156–160
Quiz for, 172–173
reasoning behind, 155
secrets of building, 162–166
ultimate goal of, 166–170
elements of, 156–160
used to strengthen company’s capacity for equitable impact, 162–166
where you fit on, 160–162
CapEQ Quiz, 172–173
Capital investment, 26
Capitalism:
American capitalist system, 24–28, 154–155
creating equitable impact using tools of, 153 (See also CapEQ [concept])
as disparity generator, 154
ultimate promise of, 154
Carlyle Group, 13
Carnegie, Andrew, 11
CEO Action for Diversity and Inclusion, 96
CEO Blueprint for Racial Equity, 70
Change:
in business practices, 177
in how world does business, 10–12, 178
in how you do business, 178
in how you make your money, 57–64
in how your spend your money, 96–105
by investing in your people, 133–141
in your business, 170–171
in your system, 166–170
(See also Innovate-Accelerate-Decelerate cycle)
Chertavian, Gerald, 7
Chipotle, 85
Cincinnati Minority Business Accelerators, 105
Citibank, 20
Coca-Cola, 56
Collaborative mindset, 165–166
Collins, Jim, 47
Commitment:
to building CapEQ, 166–167
to diversity, 123
to increase staff knowledge, 157
spending as signal of, 78
Communication, for system change, 169–170
Communities of color:
growing the wealth of, 81–82
historic discrimination against, 44–45
marketing to, 42–45
in New Orleans, 109–110
(See also People of color; Racial equity)
Community:
building, 55
engagement in, 43
hiring from your, 113
impact of businesses on, 147–148
Community College of the District of Columbia, 146
Company culture:
in building your CapEQ, 162
of diversity, equity, and inclusion, 123
importance of, 115
potential shift needed in, 162
shared identity in, 111–112
strategy vs., 113
values in, 117–121
for engagement and employee satisfaction, 115
and income gap, 44–45, 80–81, 132–133
minimum wage, 131–132
rethinking your, 132–133
Competitive mindset, 165–166
Connections, for system change, 169–170
Container Store, 128
Convincing others, about social impact, 23
Corporate consolidation, 56
Cotopaxi, 54–55
COVID-19 pandemic, 21
disproportionate impact of, 71
fallout for workers from, 154–155
and stakeholder pledges, 30
Credibility of businesses:
annual survey of, 21
values alignment and, 120
Culture:
of American capitalism, 26
of company (see Company culture)
of Live.Learn.Grow., 121
symbiosis of process and, 5–6
Customer engagement:
community building for, 55
in core business model, 49–50, 61
Customers/consumers:
authenticity factor for, 22, 39
as brand ambassadors, 165
diversity in marketing to, 42–43
expectations of, 21
in holy trinity of capitalism, 26–28
(See also Millennials)
DC (District of Columbia), 146–148
DC Department of Employment Services, 146
Deceleration:
on Good Business Worksheet, 33–34, 39
for investing in your people, 131–133, 139
to leverage making money, 56–57, 63–64
to leverage spending, 93–95, 102–103
by Walmart, 148–149
DEI (diversity, equity and inclusion), 59–60, 123–124
Demographics, financial firms’ investments and, 140–141
Department of Defense, 84
DestroyYourBusiness.com, 52–53
Discrimination:
historic, 44–45
in underwriting, 65
Disney, 17
District of Columbia (DC), 146–148
Diversity:
among millennials, 42
in financial institutions’ hiring, 141
making a commitment to, 123
in marketing products, 42–43
in talent pipeline, 130–131
Diversity, equity and inclusion (DEI), 59–60, 123–124
Dot-com bust, 175
Dove, 29
Drucker, Peter, 113
EA Sports, 17
e-commerce, 175–176
Edelman Trust Barometer, 21
Einstein, Albert, 4
Embedded donation model, 53–54
Employee benefits:
innovating spending habits related to, 90
innovating with, 130
investing in, 124–126
shifting spending on, 87
switching jobs because of, 115
Employee ownership, 126
Employees:
cost for hiring and replacing, 114–115
engagement of, 115–116
examining your, 145–146
investing in (see Investing in your people)
low-wage vs. higher-paid, 113
potential, rethinking, 116–117, 130–131
Employment discrimination, 44
Engagement:
of customers (see Customer engagement)
of employees, 115–116
in your community, 43
Entrepreneurship, 81–82
Equitable impact, 17–36
areas to consider for, 32–36
building CapEQ for (see CapEQ)
business case for, 40–44 (See also Business case)
and capitalist system, 24–28
convincing your boss about, 23
finding authenticity with, 29–32
implementing strategies for, 151–153
integrating, 177
investing in your people for (see Investing in your people)
leveraging benefits of (see CapEQ)
as priority #1, 39
spending leveraged for, 95–96
through business model (see Business model)
through spending (see Spending)
Equitable Impact Venn Diagram, 31–32
company identity and recommendations from, 111–112
in determine core business purpose, 46–47
Facebook, 176
Financial crisis (2008), 154
Financial services, spending on, 85
Fink, Larry, 28
First step process:
on Good Business Worksheet, 39
for how you spend money, 82–83
for investing in your people, 117–121
for understanding your business model, 45–47
Flexibility of work, 115, 124, 125
Founder stories, 164–165
Friedman, Milton, 11
Gap, 51–52
General Electric (GE), 5–6, 10, 52–53, 176
GIIN (Global Impact Investing Network), 71–73
Gilbert, Jay Coen, 27
Gilded Age, 154
Global Impact Investing Network (GIIN), 71–73
Goal(s):
of CapEQ, 166–170
essentials for achieving, 2–5
spending aligned with, 80
of Walmart, 95–96
Good Business Agenda, 57
for how you make your money, 59, 64
for how you spend your money, 98–104
for investing in your people, 126, 133, 135
Good Business Definitions, 32–33
Good Business Worksheet, 15, 33–36
business case on, 39
in creating equitable impact, 70
finding pilot opportunities from, 157, 158
first step process on, 39
for how you make your money, 49–50, 57–64
for how you spend your money, 89, 93, 96–98
Innovate-Accelerate-Decelerate cycle on, 39
for investing in your people, 126, 133–134, 136–140
pilot program developed from, 153
Good to Great (Collins), 47
Google, 176
Great man theory of success, 164–165
Greyston Bakery, 117, 122, 160
Griffin Hospital, 166
Growth, virtuous cycle of spending and, 83–84
GSA, 84
Guardrails, around capitalist system, 154
Habits of thought (see Mental models)
Harnessing power of social impact, 8–10
Heath Brothers, 47
Heroic stories, 164–165
Hiring:
changing practices for, 171
costs of, 114–115
diversifying, 141
potential candidates for, 116–117
potential shift needed in, 162
re-evaluating, 145–146
Hispanic/Latino people, 43–44
historic discrimination against, 44–45
in millennial and post-millennial generations, 43
(See also People of color)
Historic discrimination, 44–45
Holy trinity of capitalism, 26–28, 35–36
in private equity firms, 73
when system functions well, 155
Hurricane Katrina, 107, 109–110
Implementing equitable impact plans, 151–153, 156–160
Income Advance, 125
Income gap, 44–45, 80–81, 132–133
Information kits, 2–5
Infrastructure investment, 26
Innovate-Accelerate-Decelerate cycle:
on Good Business Worksheet, 33–34, 39, 57, 59
for investing in your people, 126–133, 137–139
to leverage making money, 50–57, 62–64
to leverage spending, 89–95, 99, 101–102
Innovation, 48–49
from within, 52–53
on Good Business Worksheet, 33–34, 39
in investing in your people, 127–130, 138
to leverage making money, 51–53, 62
to leverage spending, 89–91, 101
through acquisition, 51–52
International Space Station Alpha (ISSA) initiative, 1–4
Internet, impact of, 176
Investing (in general), 77–79
in common infrastructure, 26
by financial firms, role of demographics in, 140–141
racially equitable, 71–73
socially responsible, 21
trade-off between impact investing and, 90
(See also Spending)
Investing in your people, 111–149
business case for, 114–117
case study, 146–149
employee benefits, 87
Innovate-Accelerate-Decelerate cycle for, 126–133
jewelry shop example, 142–145
Opportunity Navigator for, 145–146
where to make an impact by, 121–126
and your values alignment, 117–121
ISSA (International Space Station Alpha) initiative, 1–4
Jacmel Growth Partners, 73–76
Jean-Baptiste, Nick, 73
Jewelry shop (see Sydney’s jewelry shop example)
Jobs, Steve, 4
JUST Capital, 70
Justice, in racially equitable investing, 72
Justice-involved individuals, 117
Kania, John, 167–170
King, Martin Luther, Jr., 4
Knowledge, to create equitable impact, 157, 161–162
Kramer, Mark, 167–170
L’Oréal, 19
Low-hanging fruit, for equitable impact programs, 157, 158
Making money (see Business model)
Market capitalization, 25
Marketing, 42–45
Marvel, 17
Marvel Studios, 91
McDonald’s, 85
Meadows, Donella, 167
Mental models:
truth or untruth of, 162–163
(See also Mindset)
Millennials:
diversity among, 43
importance of social impact to, 116
interests of, 11
spending trends for, 40–41
Mindset:
in building CapEQ, 163–166
changing your, 171
to leverage impact of spending, 83
for treating people like assets, 118–120
(See also Moonshot mindset)
Minority Business Accelerator grant program, 104–105
Money:
changing how you make, 177
choosing how to use (see Investing [in general]; Spending)
for equitable impact or social engagement, 158–159, 161–162
how you make (see Business model)
Moonshot mindset, 1–12
ambition and process in, 2–5
to change how world does business, 10–12
at General Electric, 5–6
for harnessing power of social impact, 8–10
at NASA, 1–5
at Year Up, 6–8
Moral behavior, 30
Mothers Against Drunk Driving, 170
Mull, Amanda, 29
NASA, moonshot mindset at, 1–5
National Low Income Housing Coalition, 131–132
Net Impact, 116
Netflix, 175–176
Network for Economic Opportunity (New Orleans), 107, 109
New Orleans Business Alliance (NOLABA), 107, 109–110
Opportunity Insights, 25
Opportunity Navigator, 145–146
Passion, in Equitable Impact Venn Diagram, 31–32
People of color:
Bon Appétit’s treatment of, 19
business barriers for, 103–104
discrimination in marketing to, 44
in financial firms, 140–141
impact of practices on, 70
intentional partnering with, 82, 88, 92
in millennial and post-millennial generations, 43
opportunities for, 109
and systemic racism, 18
underwriting discrimination against, 65
(See also Communities of color)
PepsiCo, 56
Philanthropy:
in procurement pipeline, 88–89, 103–104
spending on, 87
Pilot plans, 157
Pink, Daniel, 47
PlayStation, 17
Policies, for system change, 168, 169
Porter, Michael, 26
Power:
in racially equitable investing, 72
of social impact, harnessing, 8–10
Power dynamics, for system change, 169–170
Practices:
Prejudices, 162–163
Priority(-ies):
equitable impact s priority, 39
Private equity firms, business model for, 73–76
Procedures:
for moonshot mindset, 7–8
Process:
symbiosis of culture and, 5–6
Procurement pipeline, 88–89, 103–105
Product innovation, in core business model, 48–49, 61
Profit, value vs., 27–28
Promotion, employee, 121–122
Proximity bias, 124
Purpose, company, 152
Quick wins, in implementing equitable impact plans, 158, 161–162
Race Matters Institute, 59
Racial equity:
blueprint for, 70–73
and capitalist system, 24–28
in investing, 71–73
spending for, 91–92
in wealth and income, 44–45, 80–81
(See also Equitable impact)
Racial equity underwriting, 65–66
Racial justice, 17–20, 22 (See also Equitable impact)
Racism:
at work, 123
workplace barriers due to, 129
Redlining, 44
Relationships, 169–171
Renewable Energy Buyers Alliance, 96
Resources:
for equitable impact or social engagement, 158–159, 161–162
flow of, for system change, 168, 169
Retention, 114–116
Retirement saving, 90–91
Rhino Foods, 125
Risk, in racially equitable investing, 72
Rivken, Jan, 26
Rockefeller, J.D., 11
Root cause of issues, in Equitable Impact Venn Diagram, 31–32
Scarcity mindset, 163–164
Second Chance Employment playbook, 117
Senge, Peter, 167–170
Service innovation, in core business model, 48–49, 61
SHARP (Summer High School Apprenticeship Research Program), 1–4
Six Conditions of Systems Change, 168–169
Skanska, 84
Slavery, 24
SmartPath, 125
Social impact:
convincing your boss about, 23
customers’ interest in, 17–20
divide between nature of business and, 10–12
employee retention/happiness and, 115–116
harnessing power of, 8–10
role of authenticity on, 38–39
why companies should care about, 20–22
(See also Equitable impact)
Social innovation team, 48–49
Socially responsible investing, 21
Spending, 77–110
aligned with values, 78–79
business case for, 80–82
case study of, 107–110
Innovate-Accelerate-Decelerate cycle to leverage, 89–95
jewelry shop example of, 105–107
leveraged for equitable impact, 95–96
thinking about impact of, 82–83
virtuous cycle of growth and, 83–84
where spending can make an impact, 85–89
Stakeholder pledges, 30
Stakeholders:
in implementing equitable impact, 36
value-add for, 27–28
Starbucks, 120
Stereotypes, 44
Success:
great man theory of, 164–165
greatest predictor of, 25
Summer High School Apprenticeship Research Program (SHARP), 1–4
Supply chain:
in procurement pipeline, 88–89
shifting spending in, 85–86, 94–95
of Walmart, 95–96
Survival of the fittest mindset, 165–166
Sustainability, 94
Switch (Heath Brothers), 47
Sydney’s jewelry shop example:
of business model, 66–69
of investing in your people, 142–145
of spending, 105–107
Systemic racism, 18
Systems, defined, 167
Systems change:
to change your business, 170–171
conditions for, 166–170
Target, 120
Team of impact, 159
Technology, impact of, 176
TikTok, 17
To Sell Is Human (Pink), 47
TOMS Shoes, 53–54
Toyota, 84
Training, 121–122
Trust in businesses survey, 21
Turnover, 114–115
Twitter, 176
Understanding your business model, 45–47
Underwriting, 65–66
Useem, Jerry, 30
Value, true meaning of, 27–28
Values:
aligning spending with, 78–80, 94–95
business alignment with, 56, 117–121
of consumers vs. of brands, 43
in corporate culture, 117–121
in Equitable Impact Venn Diagram, 31–32
Values Snowball, 119–121
Vendors:
in procurement pipeline, 88–89
shifting spending on, 85, 92–93
Verizon Wireless, 128
Virtuous cycle:
of spending and growth, 83–84
of value-add activities, 28
Wage gap, 132–133
Walmart, 13, 95–96, 120, 146–149
“The Water of Systems Change” (Kania, Kramer, and Senge), 167–170
Winner take all mindset, 163–164
W.K. Kellogg Foundation, 45
Women:
Black-owned businesses of, 83–84
in financial firms, 140–141
millennial, spending by, 40–41
priorities of, 21
Work hours, 154
Work-life balance, 115
Wry, Tyler, 30
YouTube, 176