Question of the Week
A Bold Example of a Mission-Driven Business
Happy Friday, all!
What a week! I hope you all are excited and gearing up for fall. I saw a fascinating story this week that I wanted to share.
Last week, Patagonia’s founder Yvon Chouinard made the earth the sole shareholder of his billion-dollar company. Chouinard started the company with the mission of using it to “change the way business was done.” In short, he wanted to change the system and make money along the way.
Well, he did just that, creating products that were less harmful to the environment, giving away 1% of sales every year, and writing his company’s values in its corporate charter so he could preserve them. Additionally, as of 2018, Patagonia was worth over $1B.
Now, he has used a 501(c)(4) – a type of non-profit for social welfare organization – to put as much money as he can into fighting our current environmental crises.
It’s an inspiring story that proves you can be a profitable company that also has an impact. You can read Chouinard’s letter here.
Quote of the Week
“Truth be told, there were no good options available. So we created our own.” – Yvon Chouinard
Task of the Week
As you’ve heard me say many times, you can create whatever you want. So take some time this weekend to think about what kind of impact you want to have while creating a wonderful life for yourself.