On Tuesday, May 17, 2016, at 6pm, I will moderate a panel on this subject for the Boston Entrepreneurs’ Network (ENET) on this subject at the group’s Cambridge location: Microsoft Technology Center, 255 Main Street, 4th Floor, across from the Kendall Square Post Office .
Money and profits, income and shareholder return, drive many, and perhaps most U.S. companies. As the fictional Gordon Gekko long ago said in the film “Wall Street” – “Greed is good…it’s all about bucks” Yet, that is not so for all U.S. companies. Some companies seek an integration of both financial and other returns into the management of enterprises. This perspective can actually enhance financial returns while providing more benefit for non-owner stakeholders. For many of these companies and impact entrepreneurs, there is a “triple bottom line”, that of the three P’s:
- People: Social change & justice, employee well-being, governance, ownership, community involvement, philanthropy, legacy, and service;
- Planet: Building performance standards, resilience, company carbon footprints,and environmental restoration;
- Profits: Financial success and stability, growth, capitalization, sales and marketing, investment.
ENET’s meeting on May 17 will have three speakers who have each worked in the field of impact entrepreneurship, who will share their experiences. One speaker is a noted serial entrepreneur whose companies are known for their social awareness; a second speaker heads the program at Babson College focused on impact entrepreneurship; our third speaker is VP of Innovation and Social Impact at her company. Her company was one of the first certified New Hampshire “B” corporations, whose mission is the triple bottom line. Our moderator is ENET’s chairman who recently received the award from IEEE-USA for contributions to the IEEE entrepreneurial community. This is a night for entrepreneurs interested in giving back to the community as part of our business model – hope you can join us.
Mark Donohue is a lifetime entrepreneur. Since the late 1980’s, he has been a pioneer in “triple-bottom-line” business, Cleantech and “impact” investing, within both the venture capital and PE worlds. He has held CEO roles in numerous enterprises endeavoring to “Do Well, while Doing Good.” In Sept of 2013, he was appointed Chairman & CEO of Sheffield Pharmaceuticals (www.sheffieldpharma.com). The company specializes in health & beauty care products since 1850. Sheffield manufactures for Walmart/CVS/Walgreens, does contract packaging for entrepreneurs, owns the “Dr. Sheffield” brands, and has company-owned brands, such as Bioroot All-Natural Hair Growth and Tanner’s Tasty Paste. It products are in 70,000 US stores and the company employs over 200. Mark also serves as Co-Chairman of Faria Beede Instruments, which is the leading provider of gauges/controls in the C&I and marine sectors, plus is a leading IoT and telematics player. Faria employs 200. He is also Managing Partner of Catalyst Insight Partners, where Mark partners with entrepreneurs to accelerate growth, improve profitability and optimize financial exits. Previously, in 2001, he was the Founder of Expansion Capital, a leading Silicon Valley pioneer in Cleantech investing, which manages $100,000,000+. He has been Chair Emeritus since April of 2008. In January of 2011, Mark was honored as one of the “Top 100 Thought Leaders in Trustworthy Business Behavior” by Trust Across America. Mark earned his BS, with honors, from Babson in 1988. He served on the Board of Overseers from 2002-2011. In September, 2010, he was honored by Babson with a “distinguished lifetime service to the college” award. ( https://www.linkedin.com/in/marktdonohue)
Cheryl Kiser, Executive Director of The Lewis Institute for Social Innovation and The Babson Social Innovation Lab, Cheryl is responsible for promoting Babson’s work in integrating social innovation and social entrepreneurship into its curriculum and co-curricular activities. Before coming to Babson, Cheryl was the Managing Director of the Boston College Center for Corporate Citizenship. She is one of the leading voices in the U.S. on the role of business in society, and has won awards for her public affairs campaigns. For over a decade she managed the content and delivery of the largest annual conference in the world on corporate citizenship, the International Corporate Citizenship Conference which drew representatives from over one third of the Fortune 500 and from 24 countries around the globe. Prior to Boston College, Cheryl was the Director of Marketing for Work Family Directions, the leading provider of work life programs. Cheryl also has a passion for healthy living. She is co-creator of Food Sol an “action tank” at Babson’s Social Innovation Lab dedicated to using entrepreneurship to redesign the food system. ( www.babson.edu/Academics/centers/the-lewis-institute )
Rebecca Hamilton, Co-Owner/VP of Research and Development, WS Badger Company. Staff profiles also list her as “VP of Innovation and Social Impact”. In her role, Rebecca directs project-based teams of highly skilled researchers and chemists both at Badger and at external laboratories. She oversees all internal Quality Assurance, Regulatory, Research, and Product Development teams for a company that makes healing balms, lip balms, safe mineral sunscreens and other personal care products, mainly from an environmentally-friendly facility in Gilsum, New Hampshire. Family owned, the company prides itself on maintaining a healthy community-minded business with ethical and charitable social principles. Rebecca worked directly with NH State Senator Molly Kelly to help pass the NH Benefit Corp Legislation. WS Badger was one of the first certified B corporations in New Hampshire. Rebecca is author of 5 Reasons Why the Safe Cosmetics Act Makes Sense for Small Business (GreenBiz 2011). In college at University of Massachusetts, Rebecca was Co-Chair of the Amherst Fair Trade Town committee, and recipient of both the school’s humanitarian award and 2009 Award for Outstanding Community Service and Engagement. Rebecca has also been a Wilderness expedition leader in Vermont and professional sailor in the Caribbean. (www.badgerbalm.com)
Hopefully, this presentation on Impact Entrepreneurship will be helpful to entrepreneurs in small and early stage companies I represent. Hope to see you at ENET’s Cambridge meeting place on May 17th at 6pm!
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I remain active in ENET, a Waltham and Cambridge based group that aids founders, entrepreneurs, small and early stage companies, and people who invest or work in those companies. I have been on the ENET Board since 2002, and served as Chairman since 2009, re-elected in May 2015 to my fourth 2-year term as ENET Chair. During the period of my leadership, ENET’s annual program has grown from 10 meetings per year to 19 planned for 2015-16: 10 meetings in Waltham, and 9 in Kendall Square Cambridge, plus our annual cruise of Boston Harbor to end the program year. Each meeting has three or more speakers on a subject of interest to entrepreneurs and company founders, in life science, tech and other areas of New England’s innovation economy.
On January 30, 2016, at a ceremony at the national meeting of IEEE-USA in Las Vegas, NV, the President of that organization Peter Eckstein (pictured below) presented me with the IEEE-USA professional achievement award for “extreme dedication and contributions to the IEEE entrepreneurial community”.
Besides my work as ENET Chairman, I have also organized or spoken at a number of ENET meetings.
The May 17th meeting will be the fifth ENET meeting, I have organized and moderated this current program year, which will end July 2016.
Additionally, in prior years, I’ve moderated and/or spoken at a number of ENET panel presentations, including presentations on the following subjects:
- “Building and Using Board of Directors and Boards of Advisors ” , April 2015 (moderator),
- “Founder Agreements and Stock Vesting – Building a Team, Protecting yourself, Managing expectations ”. February 2015 (moderator & speaker)
- “Entrepreneur Success Stories ” , September 2014 (moderator),
- “Raising Money from CrowdFunding” , May 2014 (moderator),
- “Ready, Set, Launch. Knowing when you’re ready & How to start a company” , September 2013 (moderator),
- “Bootstrapping 101: Alternative Ways to fund a Startup without an Angel or VC”, November 2012 (moderator)
- “Seed and Angel Financing” , October 2012 (moderator),
- “Getting Stuff for Free”, April 2012 (moderator),
- “Transforming Your Idea into a Successful Company”, September 2011 (speaker and moderator),
- “Get Going! Launching a Successful Business”, September 2010 (moderator),
- “Licensing Technology”, February 2010 (moderator),
- How to Select and Retain Management for your Startup Company”, February 8, 2008 (speaker and moderator)
- “Getting Initial Money to go from Nothing to Something”, October 2007 (speaker and moderator)
- “Strategic Alliances and Partnerships: to build, finance, and develop early stage companies”, November 2006 (speaker and moderator)
- “Building Boards of Advisors and Boards of Directors”, March 2006 (moderator)
- “Protecting Your Intellectual Property”, January 2006 (speaker)