Why a goal-oriented business is the real key to success

The opinions expressed by entrepreneurs contributors are their own.

Last year, I came to our board with the idea of ​​joining the 1% Pledge, a global movement to support our community investments and philanthropy. The big idea is to pledge 1% of our employees' time, 1% of our products and capabilities, 1% of our profits, and 1% of our total equity. Our goal, as the first Canadian audience to launch this major initiative, is to inspire, educate and empower everyone to leverage their strengths for good.

It was close to our IPO, so we were asking a lot compared to traditional statistics. But without hesitation, our board of directors and our investors were on board. With our , they have understood that investing 1% of our company's profits, time, proceeds and equity to support charities and causes in our community will pay its own dividends. And that's okay, because what's good for business can be good for society, for the planet, for people and for prosperity.

The success of a business is no longer measured solely in dollars and cents. The market value of an organization is always measured by its stock price or determined by its valued assets, its position in the market, its unique distinctive competence, the value it brings to its customers and its market potential. However, investors and employees - and customers - are paying more attention to how you conduct your business, as well as the quality of your business and what you offer.

Increasingly, non-financial factors or environmental, social and governance (ESG) standards are being used to assess companies based on their culture and identify risks and/or opportunities for growth. To ensure that your organization meets these new standards, you must start by instilling a sense of purpose and responsibility in your people, one that is authentic and determined.

Related: Why ESG Conscious Companies Are Resilient Companies

When you instill a purpose, everything else follows

If you're thinking in terms of two outcomes, let's call them EBITDA and ESG, how do you find a middle ground that ensures both expectations are met? You can do this by instilling a set of values ​​based on a goal.

Companies around the world have made billions of dollars simply by connecting people, inspiring them to work together, and caring for them. You can't build an effective organization if you don't mobilize people around a common goal that is meaningful to them and the company, and ideally one that goes beyond what the company does every day, every day. Employees shine brightest when they share common goals and beliefs beyond their day-to-day roles.

Of course, making ESG a sustainable corporate competency means making it a central part of your company culture. You can't achieve this with a slogan or a slide. You must demonstrate, often daily, your will to do good by doing good. The goal is for employees to feel that working together to support the goals of their community and not just the company is not only encouraged but expected. The common goal strengthens cohesion and commitment, fostering loyalty, innovation and growth.

Related: Why ESG Storytelling Matters for Companies of All Sizes

Make a lasting impact in our community

Part of the challenge is finding a goal that fits your business and culture and unites your team. Finding that sense of common purpose can and should be part of the journey.

When my company made the 1% pledge, it started as a commitment to philanthropic leadership and support for a global ESG initiative. This helped us quickly find our goal: the democratization of knowledge through education and technology.

Equal, accessible and unconstrained access to knowledge is a key lever for human well-being, fights poverty, reduces inequalities and strengthens purpose. Now we are rolling up our sleeves and starting to work with local programs that put this ideal into action. Our goal is to open new doors in our community by democratizing business with access to technology and using education and employment opportunities as tactics to fight inequality. We believe that when everyone has access to the tools and resources they need to succeed in business or education, we all benefit.

Related: When You Adopt This Mindset, Everything Else Follows

The benefits of engaging in ESG