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Business success is dependent on a solid financial foundation & success looks different to everyone & there is a lack of equity of access to resources and information for small business owners and independent contractors & there is a societal narrative making us believe “balance” is our ultimate goal & … There are so many “&”s that impact being your own boss. Let’s have some frank discussions on the basics of business with a holistic focus on everything that helps business owners define and find success.
Molly Beyer: [00:00:08] Welcome to The Ambiguous &: Business Basics and Beyond, the podcast where we have frank discussions on the basics of business with a holistic focus on everything that helps business owners define and find success. Each episode is a reminder that success isn't one thing, it's a whole lot of ambiguous ands. Like subscribe or follow and let's explore these ambiguous ands.
Hello and welcome to The Ambiguous &: Business Basics and Beyond! I'm your host, Molly Beyer, and I'm here to lead you through frank and holistic conversations on the basics of business. Today we're going to talk about something we've touched on in past episodes. And that's the big idea that a lot of heart led business owners struggle with impact and income, not as opposing forces, but as partners. Because yes, you can do good while doing well. I know that phrase gets thrown around a lot, but if you're building a values based business or even just trying to make it ethical sustainable while keeping the lights on, this episode is for you. There is this myth of either or. It's that long held narrative that you either make money or you make a difference. And for a lot of people, especially women and marginalized entrepreneurs, that belief is deeply ingrained. We're told that service may mean sacrifice, that profit is inherently exploitative, and that if you want to be good, you better not care too much about your bank account. But the truth is, impact and income can and should coexist and not just co-exist. They can strengthen each other when done intentionally.
Molly Beyer: [00:01:46] We need to though, know our why and we need to let it lead. You have heard me talk plenty of times about purpose and not just purpose as a wall hanging. It's not just a brand statement or a marketing line. Your why should guide your decisions in a business, both in how you earn money and in how you show up in the world. Are you here to create more equity in your industry? Are you here to help creatives stay financially grounded? Are you here to support families or fund community organizing? Knowing your why gives you a filter. It becomes your compass. It is your way to say yes or no, that isn't just about margins or efficiency, but about meaning. And when you know it, you start to build all of your systems around it. And that's where your impact becomes more than an intention. It becomes part of your business model. It isn't just an add on bonus though. So let's look at a few examples from the larger business world as a whole. You've got companies like Toms Shoes who built an entire business around the idea of buy one, give one. Now we know that model has its criticisms now, but the point is, it wasn't just a donation tacked on at the end. It was what was baked into the transaction. Patagonia, the outdoor clothing and gear company. Their focus is on environmental and workforce equity. Beyond being environmentally focused, Patagonia also invests in worker wellbeing and activism. They provide on site childcare. They donate 1% of all their sales to environmental causes and actively sue the government to protect public lands.
Molly Beyer: [00:03:27] Their model integrates sustainability, ethical sourcing and public advocacy, so their impact and income are deeply intertwined. The company, like Warby Parker, the American eyewear brand, they have a focus on health and accessibility. So in addition to sort of their buy-one-give-one model like Toms, they also partner with nonprofits to train people in developing countries to give eye exams and distribute glasses. Their impact is sustainable, it's skills based, and it's built into their supply chain. It's not just donations. In our work, we've seen this play out by building service structures that support clients in growing their business and gaining confidence. We give financial education, focus on client empowerment, and build systems that support their long term well-being. And that's impact. It's quiet, it's subtle, it's real. Some impact areas that might be important to you are education and knowledge equity. And you know, this is one of my hot buttons. We want to make complex topics accessible. Things like financial literacy, health, legal rights. It's offering free or low cost training, resources, or mentorship. It's removing jargon to empower clients or the underserved audiences you have to make confident decisions. For me, this has also meant starting this podcast and creating resources and tools to offer for free to anyone who finds it. Maybe your impact area is mental health and emotional safety. Creating trauma informed business practices, normalizing rest, boundaries, and wellbeing and work culture. Building services that help people feel seen, safe and understood. Maybe it's representation and cultural impact that's amplifying marginalized voices in marketing, in leadership or creative direction.
Molly Beyer: [00:05:11] ANd maybe it's prioritizing inclusive design and language images and accessibility, or challenging dominant narratives or industry norms. Maybe your impact is workforce and talent development. It's hiring and training people from underrepresented groups and underserved communities. It's offering internships, apprenticeships, and reentry programs. It's promoting from within and offering living wages, benefits, and career paths. Or maybe your impact is lifestyle and values alignment, helping customers reduce overwhelm, gain clarity and live more intentionally. Offering alternatives to hustle culture or extractive capitalism. Encouraging slower values based decision making. Or maybe it's local, community driven and economic impact, supporting local suppliers, makers and community initiatives. Sharing profits through mutual aid, reparations or community and reinvestment, or strengthening local economies through co-ops or place based business models. So maybe your version is paying a living wage. Maybe it's running your business sustainably. Maybe it's making your services accessible to a wider audience through flexible pricing, scholarships, or sliding scales. These aren't just nice extras, they're part of how we lead and part of why our clients trust us. Now let's talk numbers. Because we're not just here to feel good. We're here to run sustainable businesses that fund our lives, support our teams, and build resilience. So we set dual goals. We have financial targets that make the business healthy, and we have impact metrics that reflect the change we want to create. And it's not fluff. You can measure your impact just like your revenue. Maybe it's the number of pro bono clients served, Maybe it's the number of hours given to community causes or reduced environmental impact.
Molly Beyer: [00:06:59] There are also SROI, or social return on investment tools, that you can use to translate impact into measurable value. But you really don't need fancy formulas to start. You just really need to start getting honest about what you're trying to do and find a way to track it and make it real. Remember that sometimes impact costs money up front, and that's okay because it's a long game. Your job is to find where your values and your revenue intersect and keep building there. We've talked before about designing systems that work for you, that support flow and flexibility, and the same really applies here. When your business is aligned with your values, you naturally create more sustainable operations. Why? Because you're constantly fighting. You're not constantly fighting your own instincts. You're not chasing tactics that feel off, or building offers that don't reflect what you care about. That might look like choosing vendors who align with your ethics. Building offers that reduce churn and increase lifetime value, or creating workflows that reduce burnout for you and your clients. You can reduce waste, optimize time, create deeper relationships, and those things are good for your impact and for your income. Here's something that I've learned. When you align your business with your purpose, you start to think differently. You look for creative solutions and you build smarter offers. You're really innovating not just to get ahead, but to serve more effectively. We've helped clients develop new services that speak to unmet needs in their communities. Sometimes they start a small free resource, a pilot program, a podcast series. But those seeds, they often become scalable offers. You serve more people, you build more trust. And yes, you make money in the process.
Molly Beyer: [00:08:49] The last piece. Like so many. Don't do it alone. When your clients, your collaborators, and your community understand your mission, they become a part of it. They refer to you. They cheer you on. They want to pay you not just because you're good at what you do, but because they believe in what you stand for. So talk about your values. Share your wins. Invite people into the vision. Make it a journey. You can do good while doing well. Balancing impact and income isn't a destination. It's a practice and it's one that evolves as your business grows and as you grow. So start with your why. Design your systems around it. Measure what matters. And remember, every intentional decision you make, whether it's in a spreadsheet or a service package, is a chance to align your money with your mission. Thanks so much for hanging out with us again today. We'd love to hear your feedback on today's episode, as well as any requests for future content. Drop a comment or suggestion and join us next time for more frank and holistic conversations on the basics of business. Please also like, subscribe or follow so you never miss an episode. And until next time, I'm Molly Beyer and this has been The Ambiguous &: Business Basics and Beyond. Have a wonderful day!