How to qualify as a B-Corp with Nathan Stuck
Bob DePasquale, CFP?CAP?
Keynote Speaker | Helping growth-oriented organizations attract top talent and the most loyal customers
F.I.R.E. - Feature, Inspiration, Resources, and Education
Feature:
Nathan Stuck, also known as “Mr. B-Corp Georgia”, is the Founder and CEO of Profitable Purpose Consulting, where he provides support, coaching, and guidance to businesses of all sizes in becoming B-Corp certified. In addition to his work with companies around the southeastern US, Nathan teaches an MBA level class on B-Corps at the University of Georgia (his alma mater), founded B Local Georgia, is a committee chair for B Academics, and was awarded the 2020 Community Builder Award by B Lab.? Nathan also is a sought-after presenter and speaker on the subject across the US and around the globe.
Inspiration:
by:?Stacee Jacobs ?CPWA? RMA?, BFA?, Lead Planner at Initiate Impact
Nathan found himself searching for the right career opportunity like many college graduates after completing his education.? He held a few different positions in the traditional corporate space with a degree in International Marketing.? Never quite feeling fulfilled and constantly seeking better-aligned companies, Nathan decided to return to Athens in 2011 where he would pursue his MBA in marketing and consulting.
During his time in the MBA program at UGA, he was asked to join the Net Impact Club.? Its mission is to inspire and equip emerging leaders to build a more just and sustainable world. The club focuses on subjects like redefining capitalism, the refined roles that businesses can play in being a force for good, and more with a focus on the intersection of people, planet, and profit. This is where Nathan began developing his knowledge and experience in the B-Corp world and became passionate about the goal of making businesses a force for good.
In 2017 Nathan joined Advictoriam Solutions as the Director of Operations and Culture rather than finding a career that focused solely on profits after obtaining his MBA.? He was able to leverage his talents, skills, and passions to improve the culture.? In addition, he oversaw the B-Corp Certification process for the company.? He quickly advanced to Director of Culture and Strategic Impact once the B-Corp process was complete.? In this role, he was able to develop and implement annual impact reporting metrics as well as write all the corporate social responsibility-related marketing content.
During his time in the role, Nathan founded B Local Georgia, a collection of for-profit companies that understand that making a profit and making a difference don't have to be mutually exclusive.? With 35 Georgia companies in the collective, B Local Georgia is committed to the principles of business established by B-Lab, the non-profit organization that became known for certifying B Corporations, which are companies that meet high standards of social and environmental performance, accountability, and transparency.
In early 2021, with the encouragement of his boss and mentor, Nathan took the leap and developed Profitable Purpose Consulting.? He had helped many businesses successfully achieve their B-Corp status and was finding that he wanted to commit full-time to helping others do more than just focus on the money.
In late 2021, after becoming the face of B-Corps in Georgia and in the southeast, Nathan was asked to return to his alma mater to teach a class on B-Corps in the MBA program. He loves sharing his knowledge and passion for using a business as a force for good with his students and with the world.
At the time of our Interview, Nathan was finishing the final edits on his new book, entitled “Happy Monday Designing Your Dream Career”, where he shares his wisdom and experience in how to achieve your most exciting and rewarding career.? I will certainly look forward to this reading when it comes out!
To say Nathan is busy would be an understatement.? I am inspired by his commitment to making the world a better place and how he is so willing to share his time, talent, and resources with others.
Resources:
Nathan Stuck - LinkedIn
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Education:
We know that social and environmental issues are at the forefront of people’s minds across the globe. As we collectively share common concerns over many social and environmental issues, we often look to non-profits and governments to fix the problems our societies face.? However, if we rely on them alone, the likelihood of moving the dial in any real meaningful way is slim.
Many businesses today are touting their corporate culture and philosophies related to social and environmental issues. But how do you really know their contribution to change and the impact of their efforts?? For-profit companies rarely report to their stakeholders the impact of the work they are doing outside of their profits.
You might consider establishing your business as a B-Corp if you are like many in the world today and know that there is more to business than just making money and you desire to make a difference on a social and environmental level.? There are over 6,000 certified B-corps today across the globe and that number is rapidly rising with many more applications submitted each year.? This certification is not for the faint at heart or those not willing to put their money where their mouth is.? In fact, only those who are truly committed to making positive impact need apply.
Any type and size of business can qualify to become a certified B-Corporation.??
While the process is simple, certifying as a B-Corp is not easy.? Therefore, Nathan has established his consulting firm to help others with the process.? He recommends taking the B- Lab Assessment as a great starting place in the process. To qualify for the B-Corp certification, your company must score at least an 80 out of a possible 200 on the assessment.? This assessment covers six real categories including governance, workers, community, environment, customers, and disclosures.? Additionally, the questions vary a bit depending on the type of business.? Each category has several multiple-choice questions and is a great starting place to understand the types of policies and procedures that help you obtain true B-Corp procedures.
According to the B-Lab website it takes on to three hours to complete the assessment. However, Nathan warns that completing the assessment could take you longer.? This is because as you go through each section, you may want to add policies and procedures that would help you qualify for the certification.? For example, you may want to add or upgrade your family leave policies.? Or, you may choose to add a retirement savings plan. You may also want to identify your pro bono work plan or even provide employees with paid time off for volunteering in the local community.
Your company then moves on to evaluation once you have completed the assessment.? During this time, you will be required to upload legal documents to support the information gathered in the assessment. An analyst will customize a verification report for you and then they will schedule a review call which generally takes 15-45 minutes. During the call, they will review any additional documentation required for them to fully verify your company against the standards set forth.
Finally, you will move on to the verification stage where the final assessment is done and then they send the B-Corp Agreement, and you pay the certification fee. If your business scores close to an 80 but didn’t quite get make it, there is often an extended period of time to allow you to reach the minimum requirements.
Identifying, creating, and improving company policy can require professional support and guidance to ensure successful certification of which both you and B-Lab are proud.? If you would like to explore the option of becoming B-Corp Certified, please reach out to the team at Initiate Impact or you can reach Nathan directly.? Your business can make a great impact in the world.