Old idea with a twist
I can’t help but by cynical sometimes…perhaps it is just my nature. In the past few months, I have noticed a slew of start-ups replicating companies that either already exists and are well funded or the same ecommerce platform with a new twist. The twist happens to be giving a large part of their profits to non-profit organizations.
For instance, we are a company that cares about women so we are going to give a percentage of our profits to organizations that work with women under the demise of being a software company. Really? Try building a software company first.
I am well aware that millennials, particularly women, are interested in supporting companies that give back but that is not how a company is going to succeed.
My advice to anyone else giving this a try is that the give-back portion of your business is not the hook, it could actually be the sinker.