Defining "Good " in Business

If “Good” is part of your organization's internal DNA, you’ll see this reflected in how you treat your team, your collaborators, your clients, and most visibly, how you market yourself. It’s something to be proud of. 

But what specifically is Good ? How does that look? 

When speaking of Good, I'm not simply talking about the opposite of bad. I’m defining Good as something to be desired, something that includes specific traits and aspirations in order to fulfill a particular role or output, and depending on your culture, something that you deem morally right.

Using those parameters, Do you consider yourself a GOOD company? If so, it’s time to start talking about it internally to your team, and externally to your customers. 

My definition of a Good company is one that is committed to purposefully and holistically serving others, driving excellence, and conducting business with integrity. 

Great examples of companies that do this extremely well are Patagonia or Tom’s Shoes. In Patagonia’s case, the Good is in its founder’s DNA, evident in his love for the outdoors. It’s lived out in the products they create and the knowledge they share with their buyers and the industry as a whole. 

Their mission is to “build the best product, cause no unnecessary harm, and use business to inspire and implement solutions to the environmental crisis.” 

They put this into practice in many ways, one of which is donating 1 percent of their total sales, or 10 percent of the profits, whichever is the greater, to environmental groups. Their commitment to Good has resulted in strong customer loyalty.

Tom’s Shoes based its entire business model—one-for-one—on the power of Good. For each pair of shoes sold, the company gives one pair back to kids in developing countries. 

This model allows the company to monetize through consumers' word of mouth and social campaigns, with a minimum effort in terms of sales and marketing.

The foundation of a Good company builds on these general definitions and is best articulated through a purposeful Good Culture, Good Work, and Good Clients. 

These three key areas are important because they help define how your culture operates, the process of your work, how you approach the clients you serve, and how you serve them with authentic goodness.  

In other words, the good that exists is a part of who you are and how you operate and are aligned with your mission, vision, and values.

Using authentic goodness, which means not simply just adding a cause to your marketing, but truly owning the driving force behind your decisions to align with this perspective is a strong advantage for your business; it reaches and impacts more elements of your operations than you likely realize. 

It will impact your employees, industry, community, and your bottom line in a positive way. 

Tom’s Shoes has grown by their buyers’ love of their product and the fact that their purchase impacts the world. 

Patagonia works to create sustainable manufacturing and caring about the environment which is directly in line with what they make. They both work hard to care for their employees and products, and their customers see value in that and are intensely loyal.

Now, most companies might say they already incorporate authentic goodness. Or they might try at some level to do these things, but to authentically do this involves a commitment of embedding GOOD in their day to day.

PS: I took a big step in reinforcing this with my company, Rule29, by becoming a certified B Corporation?. For more on that check this out.

For more on "Good" in business and your leadership send me an email or check out my LinkedIn Learning course.