MBA943 Guest Teacher: Russ Stoddard – How to Build a Purpose-Driven Company

Do well, by doing good. For most businesses, the endgame is profit. But in recent years, a new model has risen up, one focused on the bigger picture. If your motivation for building a business goes beyond dollar signs, if you have an entrepreneurial desire to improve the world, this is the episode for you. Russ Stoddard is a pioneer in social and environmental responsibility as a business model. His company, Oliver Russell, is devoted to the profitability of purpose. For years, Stoddard has championed the notion that with great success comes great responsibility. More importantly, great responsibility can lead to great success. In this info-packed episode, Stoddard leads us through the effects of a purpose-driven approach on everything from your brand to your tax liability. He discusses the options available for entrepreneurs who wish to structure their companies around principle and social values. He teaches us the value of values, and shows us why he works to improve the “triple bottom line:” people, planet, and profit. Check out Stoddard’s 5 ways to pursue success in a socially responsible way. Learn about the relationship between purpose and profit. Click Play!