“The power is that when you have a commitment and passion around something, other people do too, even if they don’t know much about it… Research shows, people are wanting to spend their money where they know their pound or dollar actually makes a bit more of a difference.” – Kat Luckock
In this episode, I welcome Kat Luckock to talk about how organizations can be structured both for profit and for social impact. She shares how significant it is to stick to showing intentionally with our causes while establishing a sustainable business model.
Kat is anything but conventional. She first studied Peace Studies before moving into Equality & Human Rights work in local government and ran her first non-profit at age 23. She is fascinated by the power of conversation to transform (and at its worst destroy) society. She set up her first social enterprise at age 28, which now works with 4000+ teenagers a year across the UK. She is an expert in increasing trading income for organizations and now teaches other social entrepreneurs how to do the same. Since being a mum Kat has decreased her working hours to 3 days a week and is more productive and successful now than she ever was working 5 days per week. She is the founder-director of 3 social enterprises and the perfect example of how trusting your gut and following your heart will lead to the best life possible.
[00:01 – 09:44] Let’s Get to Know Kat
- Kat shares her journey as a social entrepreneur coach
- She is on a mission to help business owners both reach their vision and generate the income they need for that
- She channeled her experience in the social impact space to build understanding between and across differences within communities
- Her purpose behind jumping into entrepreneurship
- It is about setting it up to help grow the social enterprise sector in a very sustainable income model
[09:45 – 17:45] Embedding the Social Impact Rationale into the Business
- The misconception of integrating the social enterprise model
- Identifying the kind of impact you want to give
- Choose or create a cause or issue you want to align to
- Keep it within the brand even with if it entails establishing a separate legal entity
- Acquiring clarity in setting up social impact
- Use as your guide to address the disconnect between the business and the clients
- Research shows that people are willing to spend if they know that their spending can make a difference
[17:46 – 24:27] Ensuring the Impact of Supporting the Cause
- The fear of sharing our passions
- Recognize the three kinds of clients – those aligned with the same cause, those aligned because the company is aligned with a cause, and those who simply don’t want to be aligned
- Guide to choosing the right causes
- Do with due diligence and reach out to them to reveal the level of transparency
[24:28 – 33:39] Wrapping Up!
- Change is inevitable, but continuously work towards creating social improvement
- Connect with Kat (links below!)
Connect with Kat
Website: https://shareimpact.org/
Facebook: https://www.facebook.com/TheSocialEntrepreneurCoach
Instagram: https://www.instagram.com/katluckockcoaching/