Social Commerce in Austin: Successful Silicon Hills CEOs Giving Back Their Way

Moving from New York to California, meeting with investors on Sand Hill Rd in the ‘90s, and ultimately relocating to Austin in ’99, I’m grateful to have launched my first hitech venture in ATX.?I love referring to Austin as the #SiliconHills (a nod to our hitech industry and rolling hill country).?Reviewing the history of the business growth in Austin since WWII, it is fascinating to see how the Chamber, Higher Ed, and State work together to ensure our city’s ability to recover from various economic challenges.?The whispered SRI Report in the ‘80s validated our leader’s vision for business growth following a major bust by recruiting technology and incubation – all with a focus on creating a city that gives back to itself while investing in cultural opportunity. *** I wonder what the updated report following our recent adventures will reveal.

Austin has a plethora of large and small nonprofits serving our community.?Many new nonprofits launch each year.?The bulk of the working dollars for these organizations come from grants, corporate/individual donors, and volunteer workers.?Versus entrepreneurial ventures which yield sustaining revenue from innovative products and services.?

Jam entrepreneurial thinking and social good together and you get a business delivering solutions to serve.?It appears Bill Drayton first used the words ‘social entrepreneur’ in ‘72* largely speaking of delivering services through nonprofit structures.?Austin’s successful CEOs of the new millennium often include their social causes into their business plans via community service programs.?Today, our CEOs with successful corporate exits create their follow-on sustainable and revenue-generating businesses serving social good, positioning Austin to be a leader in Social Commerce.?

A fellow central Texan, Blake Mycoskie, launched the Social Enterprise ‘Shoes for Better Tomorrows’ in ’06 following a trip to Argentina [TOMS] witnessing kids going barefoot and seeing the real effects including blisters, sores, and infection. ** His buy one-get one business model afforded 95M+ kids around the world with shoes and made social commerce an aspiration for many following his book, ‘Start Something That Matters’.?Since Blake exited, TOMS has it’s growing pains, and market dynamics forced a rethink of their giveback.?I’m hopeful the new CEO will empower the organization to continue to do great work.?

Understanding the Impact a social venture delivers is not a one-time exercise.?It requires a regular IMPACT PROMISE where anyone donating can see exactly where those funds are being applied.?If I want to purchase a watch from #TruWood, I get to repurpose sunken wooden lumber and fund the planting of 10 tree seedlings in Africa courtesy of #Trees.org.?Sounds cool to me, but how do I know when and where those seedlings are planted??It would be cool to get an email or a social post that says, ‘Here’s the family who planted your trees today’.?I’d even like to follow the growth – which would likely inspire me to DIRECTLY fund planting trees perhaps in Bastrop, TX, near me. (I did apply for a batch of seedlings to plant with friends.) ?An Impact chain of custody, if you will, would connect me with the cause at a more meaningful level.

As we build out our GivingOutLoud certified Impact Partners – we are looking for social commerce partners and nonprofits delivering tangible impact.?If you know of any, please dm me.?I’d love to know them and match them with an entrepreneur that cares about their cause.

*Banks, J.A. (1972). The Sociology of Social Movements.?London:?MacMillan?.

**Mycoskie, Blake (2011).?Business Insider.

*** SRI International (1985). Creating An Opportunity Economy, Austin Chamber of Commerce, Austin, TX.