Author: Mark West
Organizations worldwide strive to become successful. As a measure of their success, they strive to do good. This can be through internal programs providing non-cash resources (such as manpower for projects like Habitat for Humanity), or by actual investment in good causes through cash donations. But in all of this, it is part of a concerted effort by the organization to spend part of its value, above and beyond what it spends on its business in general.
Yet, as we have all heard by now, and just as one example...according to the Institution of Mechanical Engineers (IME): “Globally, we’re wasting four billion tons of food every year....we throw away as much as half of the food we buy.” So the question is worth asking. Why can't we do good with what we already have, without spending more?
I’ve come across an interesting idea that has found a way to do just that. Using what we are wasting already to benefit those in need. Let’s look at the average business:
- Through the business development process, every business wastes vast amounts of resources in customer acquisition.
- Because of the high costs from the first point, it is inefficient to sell wasted spare capacity.
- As a result, these costs (wastes) are built into the cost of everything we buy.
Now, what if you had a way of reducing (if not eliminating) that waste by turning it into savings, which can then be shared? Initially you could share these “savings” with your company's clients/customers to grow sales. Next, your company would benefit with an increased margin (both through enticing better sales, but also by a portion of the savings going straight to the bottom line). Finally and ultimately, you could share these “found” savings to do good without really taking any money out of your pocket.
The end result...doing good for FREE. Yes, it sounds too good to be true, but if you could find savings in your company, wouldn't it be easy for you to share those found savings with your clients, keep some for your own bottom line, and even share a portion of it with your favourite charity? It would cost you nothing since it is coming from found savings, yet would have a profound effect.
For ease of math, imagine a company with 100 million turnover, and assuming its procurement amounts to 50% of its turnover, or 50 million. If you could save, say 10%, that would amount to 5 million, and sharing only half of 1% of that would be 25,000 to the charity of your choice. But instead of taking that from your bottom line, it would come from savings on expenses without the donation affecting your bottom line.
If it were that easy, would you do it?
The fact is...there is a way to do this and it costs you absolutely nothing to try. By signing up to, and using, the new market network – INNOVO - for FREE, you can do just that. There is absolutely no cost to joining or using INNOVO, but part of the savings you share back with your clients/customers, INNOVO channels 4% of that to a good cause of your choosing. That would be 100,000 using the example above. And it is as simple as bettering your own business by reducing waste and rechannelling it for good. Would that be interesting for you? What do you think - would it be worth a try?