What are the benefits of being certified as a B corporation? How does the B Corp assessment, without the certification, already lead to huge improvements in your company? How long does it take to become B Corp certified?
In this podcast episode, Alison Pidgeon speaks about B corporations with Sarah Payne.
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Meet Sarah Payne
Sarah Payne is the Impact Consulting Manager at ASSETS. Through her experience working with nonprofits and for-profit businesses to create change in both local and global contexts, she furthers her passion for deploying collaborative strategies to build a more just, equitable, and sustainable world.
Sarah focuses on developing and operationalizing strategies that equip companies to improve their social and environmental impact in order to enhance their competitive advantage and build a better world. Sarah holds a Bachelor’s degree in World History from Messiah College and an MBA in Economic Development from Eastern University.
Connect with Sarah on LinkedIn.
In This Podcast
- Why would a business consider becoming a B corporation?
- Assessment leads to being a stronger business
- The B Corp process
- How long will it take to become B Corp certified?
Why would a business consider becoming a B corporation?
1 – A B Corp certification lets clients know that your business is committed to being socially and environmentally friendly which benefits its success rates.
Companies that are committing to [having a positive] social and environmental impact do well financially when it comes to their peers. There’s a lot of data … that speaks to the idea that a purposeful business is a stronger business. (Sarah Payne)
2 – B Corp certified businesses are more likely to “weather the storms” of financial crises.
3 – B Corp businesses have more exposure and public relationships that are high quality because they associate with other high-ranking organizations that make positive impacts.
4 – Products created by B Corp businesses can also have better shelf spaces in stores and supermarkets.
As other industries and organizations are seeing the value of [B Corp certifications] they want more people to promote on their shelves and in their stores. (Sarah Payne)
5 – B Corp certified businesses generally have better employee retention and often attract high-quality employees who want to apply to work with them due to their commitment to social, environmental, employee professionalism.
Assessment leads to being a stronger business
Taking the impact assessment, even if you do not desire to become B Corp certified, can boost and improve your business’s public appearance, customer interest, and decrease negative environmental impact.
Consider taking the impact assessment to improve:
- Energy efficiency
- Financial success
- Purchase local products
- Stimulating the local economy
You find these areas of mutual benefit within the B Impact Assessment that can make your business stronger and more competitive, and again, the competitive differentiation from your peers is huge. (Sarah Payne)
The B Corp process
1 – Take the B Impact assessment all the way through. It is a free tool that is confidential to start.
2 – Submit your assessment to be reviewed at the B Lab.
3 – Have a review call with a B Corp analyst to discuss the assessment in a debrief.
4 – Once you have been verified to have scored over 80 points, you sign the Declaration of Interdependence and pay the fee.
5 – The legal component: for LLCs, you go to your corporate body documents and include language around your values, purpose, and mission to be held accountable for these changes.
How long will it take to become B Corp certified?
If you have all your documentation correct and ready, and you score over 80 points, it can take a couple of months. That is the shorter, quicker period.
However, if your documentation is incomplete, or you fall below the necessary 80-point mark, the B Corp analysts will still work with you and help you to achieve those 80 points and have the correct documentation.
Overall, the process can take anywhere from a couple of months to a year.
I would say for a small company to get certified from start to finish [it would take] probably around 6 months. (Sarah Payne)
Useful links mentioned in this episode:
- Use promo code ‘JOE’ to get three free months to try out TherapyNotes, no strings attached
- Visit the ASSETS website and connect with them on Facebook, Instagram, Youtube, and LinkedIn
- Find out more about the B-corporation movement through B-lab
- Take the B-corp impact assesment
Check out these additional resources:
- All About B Corporations with Sarah Payne – Part 1 of 2 | GP 110
- Group Practice Launch
- Group Practice Boss: www.practiceofthepractice.com/grouppracticeboss $149 a month
- Email Alison: firstname.lastname@example.org
- PoP Group Practice Owners Facebook Group
- Free resources to help you start, grow, and scale
- Work with us
- Consult With Alison
- Alison Pidgeon on Therapy for Your Money Podcast
- Practice of the Practice Network
Meet Alison Pidgeon, Group Practice Owner
Alison Pidgeon, LPC is the owner of Move Forward Counseling, a group practice in Lancaster, PA and she runs a virtual assistant company, Move Forward Virtual Assistants.
Alison has been working with Practice of the Practice since 2016. She has helped over 70 therapist entrepreneurs start and grow their businesses, through mastermind groups and individual consulting.
Transformation From A Private Practice To Group Practice
In addition, she is a private practice consultant for Practice of the Practice. Allison’s private practice ‘grew up.’ What started out as a solo private practice in early 2015 quickly grew into a group practice and has been expanding ever since.
Thanks For Listening!
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