I updated my Dream For Others Policy last year and publicly published it on my website. It is similar to the Give Back Policies that other businesses and entrepreneurs create – only broader in scope. It lists a number of ways, beyond just giving money (which is definitely part of it) that I hope to run a values-based and socially conscious business where I can help advance social change.
One of the goals I wrote in this policy for 2017 was to become a certified B Corporation.
Guess what? Last month, it officially happened…
This little Yeppoon-based coaching business is proud to now be a Certified B Corporation®.
What does this mean, you ask?
According to B Corp, we are:
“Leaders of a global movement of people using business as a force for good. We meet the highest standards of overall social and environmental performance, transparency and accountability and aspire to use the power of business to solve social and environmental problems.”
In order to become certified, I had to go through the below process.
Step One. Meet the Performance Requirement
The first step was to complete the B Impact Assessment. This assessment asked many questions about my business ranging from my mission, how much of my income I donate to charities, how much pro bono work I do, how I get rid of waste, who I bank with, how I involve my local community, how I assist disadvantaged groups, and more!
Since many of the questions were targeted at companies and larger organisations, I found the questions to be particularly challenging as a small (just me!) and relatively new business owner. BUT, this is why I loved the process – it coached me through a process of examining every nook and cranny of my business, finding ways that I could formalise what I was already doing, and then improve upon my structures, systems and processes in the future.
Following this initial assessment, I then had an interview with a member of the B-Corp team, where she reviewed my answers and provided additional information around the requirements and targets where required. Following the call, I had some homework where I had to send further documentation as evidence of some of the sections in the assessment. I believe my results were then also reviewed by another member of the B-Corp team.
You have to earn a minimum score of 80 out of 200 to be approved. In full transparency, my score ended up being 103.1 I believe – so I made the cut, but still have loads of room for improvement!
I was so proud that this little Yeppoon girl, with her coaching business that is less than three years old, held up against such high standards of social and environmental justice targets. If I can do this, you can too!
Step Two. Meet the Legal Requirements
In this stage, I had to adopt the B Corporation Legal Framework and integrate the mission of my business into my legal and operational structures. This flowed on to updating my Operations Manual to ensure that my mission and values would be carried through by all those involved in the operation of my business today and in the future.
Step Three. Agree to the Term Sheet and Declaration of Interdependence
I then reviewed, accepted and signed the terms behind officially being a Certified B-Corporation. I paid my registration fee for the year, and then…
I was in!
Watch the video below for a snapshot of what this means – and what it would mean for you too, if you decided to take the leap.
If you would like to learn more about becoming a Certified B Corporation or to take the B Impact Assessment, head over to the B Corporations website here. You can also read about the benefits of becoming certified here.
Finally, if you’d like a Business and Life Passion Coach to support you on your journey of expanding your values-based and socially conscious business or platform, please check out my coaching packages here.
Thanks for celebrating with me! Here’s to using our businesses as a force for good!