News

The Opportunity of Purpose Driven Business

A new business paradigm is emerging and opening up exciting opportunities for charities.The new corporate paradigmThis new paradigm is known “Purpose-Driven Business” (PDB) and it means that a company has identified a reason for existing that is greater than just making money.One of the pioneers of PDB is Paul Polman, Chairman of Unilever, who said:“I actually only joined this company for its values. The origins of Lord Lever; when he did his Sunlight bar soap and Lifebuoy – it wasn’t to report quarterly profits or make shareholders happy. It was to address the issues of hygiene in that time in Victorian Britain, which were humongous. So, the reason that I believe businesses should be around, and the reason businesses have been created, is to serve society.”[1]Factors Behind Purpose-driven BusinessThere are several factors behind PDB. Firstly, the global financial crisis in 2007/08 led many people to question the purpose of business, so they trusted them less. PDB offers a way for companies to restore that trust.Secondly, the growth of the internet and social media has changed marketing, so rather than just pushing advertising messages to consumers, companies now need to engage them in conversations to gain trust and attention. PDB offers meaningful content to help facilitate these conversations.

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Thirdly, millennials want more meaning. Deloitte research shows that 9 out 10 millennials want to work for companies that don’t define success solely by financial performance.[2]This generation is so important for companies especially when we realise they will account for 75% of working people by 2025.[3]Why is it an Opportunity for Charities?Purpose Driven Business is a huge opportunity for charities because it means that companies are moving in their direction and will be more open to the right type of partnerships. In fact, the best way for a company to demonstrate commitment to its greater purpose is to form a partnership with a charity that has a good fit with their business. By working in a strong partnership with the charity, they can do work at a grass roots level that shows their commitment is genuine.Purpose Driven Business is gathering momentum with approximately one-third of the FTSE 100 engaging their purpose. This momentum was underlined by Larry Fink, Chairman and CEO of Blackrock, who called for more “purpose driven companies” in his annual letter to shareholders. As Rana Foroohar the FT journalist remarks, “It is one thing when liberal academics and politicians call for a new kind of “stakeholder” capitalism. It is another when the largest asset manager in the world does it.”[4]Many companies have a purpose that is social, and they are becoming increasing brave about sharing it like this inspiring advert from Nationwide.How Can Charities Seize the Opportunity?Charities can seize this opportunity by creating partnerships based on shared purpose. The first step is to find companies that share your purpose. Once you’ve found that company you create an idea that sums up your shared purpose and you pitch it to them.Shared purpose partnerships are particularly exciting because they are based on organisations’ big ambitions, so they have enormous scope and potential.A great example of this was when Phyllis Tuckwell Hospice Care approached Bridges Estate Agents. The Hospice wanted to grow their Hospice Care at Home service and Bridges wanted to sell more homes. So, their shared purpose was they recognised the importance of homes. The charity pitched the partnership idea of “Home is where the heart is” and they secured their biggest ever corporate partner.A TwistThe twist in this story is that Purpose Driven Business is nothing new. As shown by both Unilever and Nationwide these companies started because of a social purpose. As Mike Kelly, former director of CSR at KPMG and chair of the charity The Passage and Dame Kelly Holmes Trust, said, “We should describe this as the resurgence of purpose-driven business.”Nevertheless, this new trend in business is an important shift and an opportunity that charities should seize with both hands – the sooner they start these conversations, the sooner they can lock in a strong partnership and make bigger impact with the strength that comes with two entities sharing an inspiring purpose.Are you ready to start forming purpose-driven partnerships? Contact the Remarkable Partnerships team to see how you can get started on this exciting new path.[1]FT interview, 3rdDecember 2017[2]Deloitte Millennial Survey 2016[3]11 Facts about the Millennial Generation, Brookings Institute, 2014[4]FT.com, 4thMarch 2018

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min read
How Healthy is Your Pipeline?

When doctors and nurses need to understand how healthy a patient is, they start by checking the vital signs: blood pressure, temperature, and heart rate. These simple checks can quickly tell them whether everything is working as it should or whether something needs attention.

So, when we meet with charities, we often want to follow a similar process with their corporate partnerships. One of the questions we always ask is: how healthy is your pipeline?

The answer is often incredibly revealing, because your pipeline isn't simply a list of companies you'd like to work with; it's one of the clearest indicators of the health and future potential of your corporate partnerships programme.

So, if you were giving your pipeline a health check today, what would you find?

The three vital signs of a healthy pipeline

We believe three key factors matter: quality, momentum, and ownership.

1. Quality: Are the right prospects in your pipeline?

A big pipeline isn't necessarily a healthy pipeline. You could have 100 companies listed, but if most have little connection to your cause, limited potential, or no realistic route to engagement, what value does that number really give you? 

A healthy pipeline includes quality prospects: companies with high-value potential that fit your organisation and its purpose, so you need to be selective.

Ask yourself: Are these genuinely the companies we should be investing our time and energy in?

Sometimes, improving the health of your pipeline isn't about adding more prospects; it's about being brave enough to remove the wrong ones.

2. Momentum: Are your prospects moving?

A healthy pipeline should never be static. Your prospects should be consistently moving through the different stages of your pipeline, from identified to engaged, nurtured and, ultimately, converted.

Of course, that doesn't mean every prospect will move at the same speed. Building high-value corporate partnerships takes time, but it should still build momentum. If a company has been sitting in the same stage for six months, ask why.

  • What's stopping it from moving forward?
  • What conversation needs to happen?
  • Who else could you involve?
  • What's the next action?
  • And if there isn't a realistic next action, should that prospect still be taking up space in your pipeline?

Successful corporate partnerships teams don't just track activity; they actively look for ways to create momentum.

3. Ownership: Who is responsible for your pipeline?

Your pipeline shouldn't live forgotten in a spreadsheet that gets opened once a month; it needs ownership.

The most successful corporate partnerships teams we’ve worked with regularly review their pipelines together, with senior management engaged in the process too.

Personally, we think 9am on a Monday is a great time to do it. Start the week by looking at where your opportunities are, what's changed, what's stuck and where the team needs support. This isn't about reporting for reporting's sake; it’s about collectively asking: What can we do this week to move things forward?

Senior management can be particularly valuable here. They may have relationships that can unlock a conversation, experience that helps overcome a challenge or influence that can bring the right people around the table. Your pipeline shouldn't belong to one person. Creating remarkable partnerships should be a team effort.

Ask better questions about your pipeline

A good pipeline meeting shouldn't simply involve reading through a list of companies and giving an update on each one. It should create action.

Instead, ask questions that challenge your thinking:

  • Which prospect is stuck, and what could we do to move them to the next stage?
  • Do we have too many prospects in our pipeline?
  • Do we have too few?
  • Are they the right prospects?
  • How could we get better and more efficient at moving companies from engaged to converted?
  • What's our communications plan for keeping prospects engaged and moving forward?

The purpose isn't simply to know what's in your pipeline; it's to make your pipeline work harder.

Pace matters too

Another characteristic we see in highly successful corporate partnerships teams is pace. Your team needs to be dynamic, agile, and able to seize opportunities.

When somebody offers a warm introduction, they act on it. When a prospect shows interest, they build on that momentum. When something isn't working, they adapt instead of sticking with the same approach. That doesn't mean rushing relationships. Strong corporate partnerships are built on trust, and trust takes time.

But there's a big difference between being patient and being passive; healthy teams keep moving.

As we move into the 4th quarter, do a health check on your pipeline.

  1. Do we have quality prospects?
  2. Are they moving?
  3. Does our pipeline have genuine ownership?

And be honest with your answers. If one of those vital signs isn't looking quite right, don't ignore it; work out what needs to change.

Keep your pipeline healthy, and you'll create the conditions to build remarkable partnerships

One of the questions we always ask is: how healthy is your pipeline?

Latest News
5
min read
The Power of Celebrating Little Wins

We all love a big win. The £250,000 corporate partnership, the signed agreement, the announcement on LinkedIn, the photograph of two organisations shaking hands and celebrating what they are going to achieve together. But no one simply gets a big win. Behind every strategic  corporate partnership are dozens, sometimes hundreds, of little wins that made it possible and yet we don't celebrate those nearly enough. The question is, why?

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What if the big win takes 18 months?

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High-value corporate partnerships take time to build. It could take anywhere from 6 to 18 months from identifying the right company to signing a partnership worth £250,000. If signing that agreement is the only moment you allow yourself to celebrate, you're going to spend a long time feeling as though you haven't succeeded. That's a long time to wait to feel like you're making progress. Instead, think about everything that needs to happen before the agreement is signed:

  • A warm introduction - that’s a win. 
  • They responded and agreed to a meeting - that’s a win. 
  • You had a brilliant first conversation and discovered their priorities and challenges - another win. 
  • They agreed to a second meeting and wanted to involve more senior people - win.
  • You identified an opportunity where your charity could help them solve a genuine business challenge - win. 
  • They told you they were interested - win.
  • You developed the proposal - win.
  • They gave you positive feedback - win.
  • They told you they wanted to partner - win.
  • You sent the draft partnership agreement - win.

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Every one of these moments matters, and every step in the journey is a little win. 

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Progress is powerful 

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Research by Teresa Amabile and Steven Kramer revealed that the biggest driver of motivation isn’t praise, money or recognition; it is making progress in meaningful work. Sharing and celebrating little wins reinforces your progress, because you write it down or say it out loud and your colleagues respond with encouragement.

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Celebrating little wins isn’t lowering your standards or pretending everything is going brilliantly; it’s sharing and recognising progress. High-value corporate partnerships aren’t built overnight. They are the result of hundreds of little wins that most people overlook.

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So, why don’t we shout about them? 

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Sometimes, celebrating a little win can feel uncomfortable. We find ourselves questioning: 

  • Is it really big enough to share?
  • Will people think I'm showing off?
  • What if the partnership doesn't happen?

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We can be so worried about appearing big-headed that we keep our progress to ourselves, but celebrating progress isn't boasting, and it isn't pretending that you've achieved something you haven't. It's simply recognising that something positive has happened and that you're one step closer to where you want to be.

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In fact, sometimes celebrating a win should attract attention.

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  • If somebody in your team has spent months developing a relationship and finally secures a meeting with a decision-maker, why wouldn't you celebrate that?
  • If a corporate prospect tells you that your proposition has completely changed the way they think about working with your charity, that's worth sharing.

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Communities should celebrate progress. Teams should encourage one another. Leaders should recognise the work happening long before the final result arrives.

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When we share those moments, something else happens: other people get behind us, and little wins create collective momentum.

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Big wins are built from little ones

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When we see an incredible corporate partnership announced, we see the result, but we don't see the introduction that happened 18 months earlier:

  • The first coffee.
  • The unanswered email.
  • The follow-up.
  • The conversation that uncovered a shared challenge.

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Those are the building blocks. So don't wait for the partnership agreement to be signed before you recognise how far you've come.

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Write the little wins down, and share them in your team meetings. Put them in your internal updates and tell your colleagues when something has moved forward. Celebrate other people's progress as enthusiastically as you'd want them to celebrate yours, because remarkable partnerships aren't built overnight. They're built through conversations, relationships, persistence, learning and hundreds of moments of progress that are very easy to overlook.

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Celebrate your little wins. They're the building blocks of remarkable partnerships.

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Behind every strategic corporate partnership are dozens, sometimes hundreds, of little wins that made it possible and yet we don't celebrate those nearly enough. The question is, why?

Stay Informed. Stay Remarkable.