Can you really make money and be a force for good?

If your inbox looks anything like mine, it's a whirlwind of Black Friday deals, Small Business Saturday shoutouts, and Cyber Monday countdowns. 🌪️

Yes, some of those emails came from me (guilty as charged!)...

But I want to hit the pause button on all that.

Because in the wake of this digital shopping spree, there's a powerful, often overlooked day that deserves our attention: Giving Tuesday.

I want to take this opportunity tackle a myth that's been floating around…

The myth? That to make a real impact, you need to ditch the idea of making a profit…

…That doing good means living like a monk, detached from the material world.

What if I told you that you could amplify your impact precisely by growing your business?

Today in 5 minutes or less:

✔️ When for-profit = more impact

✔️ This biz makes $$$ giving away free stuff

✔️ 5 ways to maximize impact + income

WHEN FOR-PROFIT = MORE IMPACT 👟 

Let's dive into a story that's as much about heart as it is about soles.

I'm talking about TOMS Shoes, a name that's become synonymous with the power of social entrepreneurship.

Founded in 2006 by Blake Mycoskie, TOMS started with a simple but powerful idea:

For every pair of shoes sold, they would donate a pair to a child in need.

This wasn't just a marketing ploy; it was a mission, a passion, and a new business model all wrapped into one. 🎁 

TOMS' one-for-one model was revolutionary.

Here's a company that transformed purchasing into an act of giving. Every customer became a benefactor, every sale a mission accomplished. ✔️ 

And guess what? It worked.

It worked so well that it redefined the way people looked at their buying power.

TOMS didn't just sell shoes; they sold stories. Stories of hope, change, and impact. Their marketing strategy was a masterclass in cause marketing.

At its core, TOMS is a for-profit enterprise. But they leveraged their philanthropic model not only to sell shoes but also to build a brand that stood for something bigger.

This allowed them to create a sustainable model where income and impact feed into each other.

Think about it. By being a for-profit entity, TOMS can invest back into their business, innovate, expand their reach, and ultimately, give more.

They're not just relying on donations or funding; they're generating their own fuel for change. This means more shoes for folks in need and a more significant impact.

TOMS’ style and popularity peaked years ago, but the lesson remains:

Imagine creating a service where every subscription contributes to a cause…

Or where your growth as a business directly amplifies the impact you can make. You actually can integrate purpose into your profit model, and this is living proof. (I’ll talk about real-life SaaS applications of this at the end! 👀)

THIS BIZ MAKES $$$ GIVING AWAY FREE STUFF 🚰 

Let's unpack another impactful + profitable biz story…

Water should be free — so why do we pay to drink it?

That’s the question that’s being asked by Austin-based startup FreeWater as it pushes to make water (and more essential products) free across the globe.

A water bottle, wrapped in ads, making it a walking billboard.

That's Josh Clifford's brainchild.

They've taken a simple, everyday product and transformed it into an advertising platform.

And here’s where the goodness comes in: Advertisers pay big $$$ to feature on these bottles, and this revenue allows FreeWater to distribute their water absolutely free.

It's a simple yet powerful switch-up: The ads on the bottles fund everything, from production to distribution.

FreeWater is bringing advertising back to the physical realm, making every bottle an innovative marketing tool that speaks louder than direct mail.

While the average mail flyer costs ~35 cents to make and garners one read before being tossed, Clifford estimates that his bottles, which sell for ~$1 per unit, will be looked at 10 times before being thrown away.

Now, here's where it gets even more intriguing. FreeWater isn't just breaking even. They’re making a profit here!

By aligning their business model with a purpose, FreeWater isn't just doing good globally; they're doing well financially.

They're proving that making a profit doesn't mean sidelining impact. In fact, it can amplify it.

With the funds from ads, FreeWater is not just covering costs; they're also investing in clean water projects worldwide.

This is a path where our business growth can directly fuel our desire to make a difference.

Free vending machines are next for the company and will help its distribution model.

“Our mobile app will limit users to one to three free drinks/snacks per person daily,” Clifford said in a release. “Free vending machines will be emptied daily, and each location will donate between $10,000 to $36,000 to charity annually.” 🤯 

So. Cool.

Let’s think bigger, to see our work not just as a means to earn, but also as a vehicle for positive change.

5 WAYS TO MAXIMIZE IMPACT + INCOME 🤝 

How can you, as a SaaS entrepreneur, blend income with impact in a way that's both meaningful and profitable? It’s actually super simple.

Step 1: What do you care about?

Step 2: How can you align your business with the things you care about?

Many of us already support a cause. We’re committed to having a deeper impact beyond what our products deliver. We just need to be a little bit louder about it. 

Here's a list with more ideas to guide you:

1. Try the One-for-One Model: If you're passionate about a cause, consider a model like the one-for-one approach TOMS uses. For every subscription to your SaaS, provide free access to a nonprofit of the subscriber’s choice. This creates a symbiotic relationship where everyone wins – your business, the nonprofit, and the end user.

2. Leverage Mutual Advocacy: Encourage nonprofits to promote your service. This not only helps them with better tools but also opens your business to a wider network. When nonprofits advocate for your platform, their supporters become potential customers, creating a win-win scenario. I’ve seen folks grow massive SaaS companies by providing free access to churches. In turn, the churches connect you to a huge network of new subscribers.

3. Start Small: If this all sounds like a lot… Don't worry, You can still make a change. Remember, it's not always about direct donations. Simply supporting other small businesses, sharing knowledge, and fostering a positive community can be just as impactful.
   

4. Bigger Pie, Bigger Impact: Embrace the idea that sometimes, a smaller slice of a larger pie can lead to greater overall impact. Don't be afraid to spend on marketing if it means significantly expanding your reach and impact.

5. Impact 🤝 Income: Finally, I’ll say it again, understand that maximizing impact doesn't mean forsaking income. When aligned correctly, your impact strategies can drive your business forward, opening new doors and creating new opportunities.

This blend of income + impact isn't just a feel-good strategy.

It's a proven business model that can propel you into a realm where success is measured not just in revenue but in the real, positive change you create.

I dare you to sprinkle a bit of generosity in your biz and life. Mentor a newbie, share a pro tip, back a cause. Keep growing. Be loud about the causes you believe in.

Because the more your business grows, the more lives you can impact.

To profiting more and working less. 💸 

-Matt

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🖊 The word of the year is out. What word drove people to search its meaning many, many times? Merriam-Webster has the answer.

⚡️ Can the U.S. say goodbye to fossil fuels in energy? Google and this Houston-based company are onto something and let’s just say it’s HOT.

🔭 A NASA astronaut lost something in space… And now, it’s orbiting Earth. Star watchers can spot it with binoculars.

👑GOLDEN NUGGET OF THE WEEK 👑

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