I’m often asked “why do you keep going on about this ‘Love’ thing? What’s it got to do with running a business?”
I felt it was about time I gave an explanation.
And hopefully it’ll give you some ideas to think about as you tackle your own business challenges.
My ‘Love Business’ strapline was inspired by two people and a book:
John Elkington, world authority on corporate responsibility and sustainable capitalism, who created ‘The Triple Bottom Line’ concept in the 1980s of ‘Profit, Planet and People’.
Ayman Sawaf, social commentator and pioneer in the field of emotional intelligence (EQ), added ‘Purpose’ in 2014. He wanted to underline the importance of aligning business practices with a higher Purpose beyond Profit, People and Planet. Hence ‘The Quadruple Bottom Line’ (‘QBL’), which I write about in more detail here.
‘Firms of Endearment—How World-Class Companies Profit from Passion and Purpose’ by Raj Sisodia, David Wolfe and Jag Sheth. They carried out research spanning many years into US listed companies, which demonstrates that companies adopting the QBL approach dramatically outperform their competitors.
All sounds and looks good, something worth aiming for, but entrepreneurs I work with often tell me the QBL concept is a bit too left-brained, logic and analysis oriented (‘corporate’).
In my experience entrepreneurs tend towards right-brained, intuition and creativity oriented, so I wanted to come up with one memorable word or phrase that went straight to the heart, that encapsulates the feeling behind the QBL.
What better word than ‘Love’?
There was only one problem: I didn’t have the courage to go public with it. I’d been a
numbers and results-driven businessman for over 40 years—no way could I use it.
That’s where my fab coach Lucy Czakan came in. She told me, and these were her exact words, to “grow a set!”
Now that’s what I call ‘Radical Candour’!
So I accepted the challenge, and have used the one word ‘Love’ and the strapline ‘Love Business’ ever since.
And guess what, the clients that are attracted to working with me absolutely get it. Most of my clients are B Corp certified, or are on the way to becoming accredited. They run their businesses as a force for good.
Does that explain it? Let me know.
So here are some tips for effectively running your business using the principles of the QBL, or Love, whichever you prefer:
Profit
Ensure your pricing and cost structures support ongoing profitability rather than quick wins—in other words prioritise decisions that support the long-term financial health of your business.
Be particularly aware of your business’s Gross Profit margin measured as
percentage. Whether it’s a services, manufacturing or SaaS (Software as a Service) business, the same principle applies.
If you take dividends, add them back into Operating Expenses to get a true picture of your business costs.
People
Work hard on your business’s culture, its values, to reflect and respect all
stakeholders—employees, customers, suppliers, community and investors.
Make hiring decisions carefully and thoughtfully, but act quickly when someone clearly doesn't fit.
Be clear about the difference between leadership and management—leadership focuses on vision and inspiring people toward goals, while management handles day-to-day execution and processes.
Planet
Look at every aspect of your business’s operations to see where you can reduce its carbon footprint by, for example by:
o Installing energy-efficient systems / switching to renewable energy.
o Optimising / reducing travel.
o Sourcing locally / choosing sustainable suppliers.
o Engaging employees in environmental initiatives.
Purpose
Create a Purpose statement, i.e. why your business exists other than to make money, which is a given. For example:
o Google: To organise the world’s information and make it universally accessible and useful.
o LinkedIn: To connect the world's professionals to make them more productive and successful.
o Apple (originally): To make a dink in the universe.
o Patagonia: To save our home planet.
I believe that a well-run business balances profitability with purpose, sustainability, and strong leadership. Prioritising long-term financial health, fostering a positive culture, and reducing environmental impact create a resilient, values-driven company. This approach not only benefits stakeholders but also ensures lasting success and meaningful contributions beyond just making money.
I hope that’s given you some interesting food for thought when you’re thinking about your business challenges.
If you would like to have a conversation about transforming your company, I'd love to hear from you. Just fill in your details on the Contact page and we'll arrange to speak.
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