Takeaways from "B Corp 101 with Futureproof"
Huge thank you everyone who was able to attend last Tuesday’s workshop delivered by Tom Wilford, Founder of Futureproof! Futureproof helps companies become B Corp, and make it easy to track and improve ESG (environmental, social and governance) impact.
We're also pumped to say that Futureproof is the newest Operations Nation partner! 🎉
- As our community member, you'll get special access: if you have any questions about B Corp, you can book office hours with Tom here ✉️
- You’ll also get a 10% discount on the setup fee for Futureproof's services 💰
- We want to be transparent that for every new client that comes through the community, ON will accept a referral fee from Futureproof which will be invested straight back into the community #buildinginpublic ❤️
For those of you who couldn't make it, here’s a quick summary of the answers to our most burning questions about B Corp:
- What is B Corp? Why go for it? Certified B corporations are a new kind of business. They meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. While the legally binding certification is tough to achieve, and comes with the need to continually improve, it’s becoming very popular, with over 4500 companies in the community (700 in the UK!). By joining this growing community, you can accelerate your growth, increase your revenue, and attract top talent.
- What’s the process of becoming a B Corp? Any business (with few exceptions) can apply to complete the B Impact Assessment (BIA), which covers 5 areas of your business over roughly 200 questions. You need 80/200 points to certify for 3 years, after which you will need to re-certify, meaning you’ll need to improve your score. There is also an annual certification fee, which is dependent on your annual revenue. From start to finish, the process to become a B Corp can take anywhere from 1-3 years (depending on size, complexity, and level of support). Staying a B Corp is just as important as becoming one: keep maintaining and improving your policies, practices, data, and training!
- Why does certifying as a B Corp usually fall on the shoulders of operations professionals? Becoming successful in B Corp typically requires you to have knowledge in five categories: governance, workers, community, environment, and customers, to work on the Handbook, the Ops Manual, data collection, data tracking, and team engagement. This means you’ll need to be able to see the big picture and the small details, coordinate others, maintain as a future process, and simply put, get sh*t done. Sounds like ops folk, doesn’t it? ;)
- How can we best prepare for it?
- Create leadership buy-in from day one: It’s important to have leaders understand why you’re doing the work and what you’re actually doing. 🌟
- Form the dream team: Create a team of 3-4 people, who are passionate and can sign off on stuff. 👥
- Secure your time on the project: Dedicate a set amount of time to B Corp each week, don’t let it become a side project. ⏰
We work very closely with you - our community, and always look for solutions within. Futureproof was referred to us by an Ops Stories member, Penny Penati, and it's trusted by quite a few more folks in our community.
Hope you enjoyed the event! If you have any more questions and would like to get in touch with Tom directly, you can also reach him at firstname.lastname@example.org. ✉️
We have plenty more events upcoming on various topics, so keep an eye out for the dates on Slack 👀