Hatched is a B Corp

Hatched B Corp

After opening its doors one year ago, Hatched announced today that it has become a certified B Corp joining the movement across the world using business as a force for good.

Reflecting on the announcement founder Timothy O’Brien shared “we are proud to become a B Corp and join a network of diverse businesses who are redefining what it means to be successful. B Corp’s have an ability to solve complex problems in a creative way and uniquely support each other.  B Corp’s continue to demonstrate greater levels of profitability, customer and staff engagement, along with growing investor interest.  It is now a case of not if, but when other businesses will start to follow”  

Timothy goes on to share why he started Hatched “my desire was to help business leaders connect to something more meaningful and build their business to be a better form of itself, not only for it to be more successful, but ultimately something that they can be proud of.  Importantly, we seek to create a deeper connection for staff and customers, and once you get this mix right something magical happens”

Hatched’s own magic is a mix of a human and creative approach that connects with individuals across each organisation to build a compelling impact model and then using this new platform to tell stories, innovate and creatively solve problems. 

Hatched has been working with start-ups, scale-ups and those more established to either build or transform their business to have an impact in the world.  This means designing and implementing a model that goes beyond just business to impact. It includes defining its purpose and values which translate into an internal and external meaningful experience.

Timothy continues “it is my belief that many businesses are using outdated practices in the face of growing competition, complexity and global uncertainty.  Key to continuing to navigate this is knowing yourself better and having clarity, once you have this it is amazing what flows”

“Not only am I proud that our work has helped our client’s businesses become stronger it is also about the impact we have achieved. Hatched has an impact sharing model with our clients and we have contributed to helping get people in 3rd world countries out of poverty, putting farmers back on the land by giving them a fair go, and helping local communities become more resilient”

Hatched continues to grow through increasing its associate network which brings in individuals with unique skills for exciting projects, and will soon launch an advisory and mentor subscription based service.  For more information visit www.hatched.io or email hello@hatched.io

Perspectives

We have been encountering some tough yet powerful conversations of late - which is just the way we like it!  They range from implementing a company-wide diversity approach, designing a coaching program, initiating collaboration for system-wide textile recycling and thinking through how to shift customer’s perspectives for the benefit of the wider community.

Whilst very different conversations there was something similar in each.  They started from an intention to use standard business practice e.g. frameworks, policies, quotas and metrics, to achieve each outcome.  Whist potentially helpful in some way, shape or form this was not the right conversation, at least initially.  What became very clear is that in order to achieve each intention you must first start with the individual.

Let us explain a little more……

Occasionally at the airport we browse the magazine rack a pick a few random ones to read on the plane (this is a very useful habit given that you normally read the same papers, blogs and watch TV shows which reinforce the way you think)

One of the magazines we picked up today, amongst a selection of mostly celebrity gossip or high end fashion (very revealing!), was Rhythms - Australia’s Roots Music Magazine.   Flicking through we came across an interview with Ian Brennan an American producer/author who travels to remote places in the world to find new bands and artists who have never been heard before.  It turns out he produced one of our favourite albums Tinariwen’s Tassili album, a Sarahan Tuareg band. 

Now check out this exert from his interview where he talks about accepting a Grammy Award on behalf of the band:

“This award means a lot to them (Tinariwen) because it means they are being heard. The entire album was recorded outdoors in the biggest desert in the world.  They began their career over 30 years above making free tapes for their friends, and playing on broken homemade instruments….Music unites us and music saves lives.  When we listen to each other, we know there’s the potential to understand each other.  When we understand one another there’s the potential for empathy. And where empathy exists, hate cannot continue, and there’s a chance to rise above it”

He also goes onto make a simple point about non-English speaking bands:

“….if people think its too hard to understand lyrics in other languages, they should realise it’s a small mental change, an adjustment of attitude.  And we should also remember that it’s an adjustment that the whole rest of the world makes everyday to our English.”

Whilst listening to the rest of his recordings (go check it out - http://ianbrennan.com) it made us reflect on our recent conversations.  It is a powerful example of taking time to seek out other people’s worlds and perspectives, and how something so simple can create change.   The specific point that hate cannot continue when empathy exists is significant given the world is getting smaller and things are getting a little tense.

At Hatched we believe this understanding can be cultivated if businesses start simply with the notion that their role in “developing people” is simply to help them be good humans.  This can be achieved through setting the right rhythms where individuals can grow, connect with each other, and share perspectives - especially on topics not directly related to work.  This is mature leadership that is soft, yet strong and transformational.   This could simply be creating new rituals allowing some space for this to happen e.g. taking time once a month to learn about and from each other, or potentially more challengingly - to engage leaders in role modelling this behaviour by being more vulnerable and human so people can understand and connect to them.  Those few companies who have got this right, have achieved extraordinary results, just take a look at Bellroy.

We believe for true change to happen and to tackle issues like diversity it starts with investing in human goodness.    Borrowing the words of Ian Brennan, “it’s a small mental change, an adjustment of attitude. 

Would love to hear your perspective…..get in touch

 Hatched

    xox

Profitability

At Hatched we are getting serious this week.  We are going straight to the big issue, MONEY!

The number 1 question we get ask is does doing good actually make you money?                       To which we respond……of course.                                                                                             To which we typically get someone leaning in and whispering oh come on, really……you can tell me……we know it feels nice but does it really make money?

Let’s just visit a traditional successful business check list:

  • Better stock market performance and financial results
  • Resilient to unstable economic conditions
  • Lower cost of accessing capital
  • Consumer trust, preference and loyalty
  • Growing interest with investors
  • Innovation

There is overwhelming evidence emerging that shows good companies are proven to outperform the competition in the areas listed above.   Some people see doing good as a distraction when it facts its attractive, its serious and its a competitive advantage.

Don’t be fooled by our corporate hippie appearance, we are actually very practical people at Hatched.  We take pride seeing our clients outperform the competition in terms of profits, share price and any other metric you’d like to throw in.  Making money matters, it verifies that your business is sustainable and ultimately enables you to have an even greater impact in the world.  Good businesses are proven to be more resilient, productive and ultimately more profitable.  It is an absolute no brainer. 

In case there is still a sprinkling of doubt in your mind, we are going to take you on a quick tour of the facts:

  • The Good Company Index ranks the Fortune 100 companies in the US based on a number of criteria that they consider makes a company good. The latest report can be found here.  The team at Good Company Index compared the stock market performance of those scoring higher on the Good Company Index with their competitors.  The results showed Good Companies outperformed their competitors by over 40% points.  
  • Similar findings exist if you just take those companies that have been listed as the Great Places to Work, better companies had lower turnover and better financial performance see link
  • A similar pattern was also revealed by a local Australian investment advisory agency who said their internal analysis verifies that those companies that go far beyond compliance have significantly better stock prices and profits (hopefully they'll share the evidence soon!)

Better stock market performance and financial results TICK!

  • A 2013 Cone survey of 10,000 people across 10 countries explored companies with a social and/or environmental benefit
    • 96% of global citizens have a more positive image of that company
    • 94% are more likely to trust that company
    • 93% are more loyal to the company (i.e. continue buying products or services)
    • 91% of global consumers are likely to switch brands to one that supports a good cause, given similar price and quality
    • 92% would buy a product with a social and/or environmental benefit if given the opportunity, and more than two-thirds (67%) have done so in the past 12 months
  •  2016 Edelman Trust Barometer reveals
    • 80% of people agree that a company should take specific actions that both increase profits and improve economic and social conditions in the community it operates
    • 8 in 10 people agree that CEOs should be personally visible in discussing societal issues
    • 50% of people who believe trust is falling in big business say so because it fails to contribute to the greater good

Consumer trust, preference and loyalty TICK! 

  • During the financial crisis, B Corps were 64 percent more likely to survive than traditional businesses  

Resilient to unstable economic conditions TICK!

  • Between 2012 and 2014, global assets of socially responsible investing in the US rose to $21.4 trillion, from $13.3 trillion—an increase of 61 percent, which outpaced the growth in total professionally managed assets

Growing interest with investors TICK!

  • A study by Deutsche Bank revealed:
    • 100% of the academic studies analysed in the report agree that companies with high ratings for CSR and ESG factors have a lower cost of capital in terms of debt (loans and bonds) and equity
    •  89% of the studies we examined show that companies with high ratings for ESG factors exhibit market-based outperformance, while 85% of the studies show these types of company’s exhibit accounting-based outperformance

Lower cost of accessing capital TICK

  •  The 2014 Profits With Purpose report by McKinsey revealed that companies pursing purpose and sustainability opened up new value creation opportunities.  The image below outlines the possibilities (big warning on the green sales and marketing, this can go badly as it needs to be done with authenticity and elegance) 

Innovation TICK!

So there you go.   The last thing we wanted to share is that we’ve had some unexpected conversations of late with CEOs and/or Company Founders who are openly admitting to us that they are no longer waking up in the middle of the night concerned about how much money they are going to make but what legacy they are going to leave and what impact they can have in society.   Business is changing.

Being Good Is Serious Business.

Hatched xox  

Openness

IP or Intellectual Property is an interesting modern concept.  The idea of owning something that is in your head interests me. Trying to figure out who owns what, what to share, what to make transparent and how to keep track of it puts the world in a frenzied spin.   

It is my belief that if you hold something tightly it will eventually break.   Just look at the ramifications of all the 'leaks' recently (Panama Papers) and all the silly legal spats between companies over patents (Apple).   If we were all just a little more open, trusting and respectful I think we would achieve great things. To begin to explore one of my favourite themes I'm going to tell two stories. 

The first is from my past.  Sometime ago I worked at News Limited as the Marketing Services Manager.  It was an interesting time as newspapers started to go online. The organisation had to make a big cultural shift from a physical to a digital existence. To help out I had come up with an idea which I'd spent time researching, prototyping and visualising.  I had pitched the idea to my boss, then the Managing Director and onwards to a bunch of Sydney colleagues on my travels who were all wonderfully supportive.   I had heard nothing back assuming something had stalled the project.  3 months later a colleague had returned from a strategy retreat where they announced the launch of a new project....he enthusiastically reported back "mate, great work your idea is launching" assuming I was aware and had been involved the whole time, to which I replied "I've heard nothing about it for 3 months".  I must admit I was pissed off at the time.  I later found out that one of the members of the group senior leadership team who'd just joined the company had claimed the idea as his own after picking up my A3 paper I'd left in Sydney. 

I look back on this moment now differently.  Instead of being annoyed, I'm now proud that my idea was used and although the senior leader behaved in way that lacked elegance, I take pride that the idea benefited the way the company worked. It was a lesson learnt.  

The second story is one of inspiration from the US based agency August.  When I set up Hatched a friend recommended I checked them out and I was impressed given our shared philosophy.  I signed up to their newsletter and recently received one that pointed to their post on Medium.  It blew me away as it provided an open report and I mean OPEN on their first 200 days in operation.  It contains a frank report on their experience to date (check out the dog GIF), ownership structure, revenue and salaries.   Many small business owners would shudder at the thought of this.   If you then go to their website they have a section called Public which contains an unrestricted google drive which all of their presentations, toolkits and 'how to' guides for their services.  August's purpose is to transform the way people in businesses work together and their openness is a demonstration of it.

Openness shows confidence, enables collaboration, empowers others and furthers your ability to have a greater impact in the world.   Be open people.

Timothy O - Hatched xxx

 

 

Ps.  If you aren't already aware of it the Creative Commons movement it is a great way to help facilitate the respectful and open sharing of information. 

 

People - Citizen consumers

Shopping Cart

At Hatched we do a lot of work with businesses to help them be better, recently we started to think about us, the people, and what responsibility we have? 

The word citizen has intrigued me for a while. It congers up images of people acting in the best interests of those around them. Contributing to and creating thriving communities. Looking out for and after each other. Sharing skills, resources and most importantly making good collective decisions.  

It is about time we all became more active recognising that we, the people, have a responsibility to deliberately participate in the economy to change it for the better. 

We are not sure about you but we drive ourselves crazy thinking about every item we buy working through where its made, by who and how.  Yet as we walk home with the shop carrier, refusing the use of plastic bags and having read every product label we wonder if this is making a difference?

Does buying free range chicken,  local ingredients and paying extra for organic just fool ourselves into thinking that we are doing good?  How often are we going good, is it 1%, 5% or 50% of the time?  Can we really make a difference by changing the way we shop? 

At Hatched we believe that collective people power has huge potential to change the system yet there are many barriers including lack of transparency, education, simple easy of access and affordability to scaling this behaviour.   We also have to stop and acknowledge that most people probably don't even think about it or even care.   Bob Dylan said it "People don't do what they believe, they do what's convenient, then repent later".  This seems to get us closer to the heart of the issue.....convenience......so how do we redesign what is convenient?

This is a significant challenge and we hope the following snippets begin to show how designing for convenience might start to create this shift:

  • Provenance is service built on the blockchain which enables consumers to track the entire supply chain of the items they are thinking about purchasing. This enables open and transparent communication between the person producing the product and the person buying the product.  It starts to allow us to ‘look underneath the hood’ of companies and it makes good purchasing decision much easier.
  • Fair phone is an initiative that opens up the electronics supply chain enabling individuals to know where all the components of their phone is made.   This provides a great short cut, helping us feel at ease using electronics which typically use rare minerals and questionable labour processes. 
  • 360.org is platform that highlights issues to conscious consumers. Campaigns such as the divestment movement  enable people to collectively participate in making change happen such as moving their money away from high carbon investments.
  • Restart is a project that enables individuals to learn how to use their electronic products for longer teaching people how to repair them allowing us to reduce waste and feel empowered as part of the process

Such initiatives help us change our purchase behaviour through a combination of raising awareness, facilitating transparency and up skilling.  It provides a glimmer of what a new system and behaviour could look like. It seems quite simple but if we can make good purchasing convenient it is our belief that people will start to accept their responsibility to participate in a more active way.

Let the redesign begin! Stay tuned for more Hatched musings xxx

 

 

Creative Commons - Shopping cart Icon by Loic Poivet via Noun Project

Why Hatched?

So we've hatched.  

Given our business is all about asking and helping you articulate why your business exists,  I thought it was only fair to do that for you!

Being endlessly inquisitive and a little mischevious I've always played around with the question...  

Is there a better way to do business? 

It's common knowledge that people have lost faith in traditional business with the toxic mix of corruption, marketing spin, complexity and rising prices.  Naturally people are wanting to return to working for, buying from and investing in good business.  I am one of them.

So we recently started a conversation and found LOTS and LOTS of people including CEOs, founders and other business leaders were asking this same question.  

Many successful business leaders have confessed that they are waking up in the middle of the night not thinking about money and their next yacht but what legacy they are going to leave and the impact they want to have.  They just don't know how. 

I've been lucky enough to be involved with the B Corp movement over the past 18 months and I am considered a strategic advisor to B Lab Australia / New Zealand.  This movement and the B Corps it contains certainly answer this question and are living examples of profitable and successful businesses that make the world a better place.

As part of this journey my why became very clear.  It simply made sense for me to pack up my skills in building new products, thinking in systems, facilitating solutions to complex problems and business model design, and point them towards reinventing business.

Someone recently said to me there are two significant moments in your life the moment you are born and the moment you realise why you were born.

So let's do great things together whether you're big, small, somewhere in between, starting out or just trying to work it out.