The value of a smile?
We had a couple of interesting meetings this week with some conventional financial institutions who were looking at The Wave and were keen to be involved in our proposed projects. As they are big corporations, we figured it was worth going and having a chat.
What was clear, they loved our plans and could see that ultimately they would be very profitable. However, they made a few references that there were a few things in our plans that seemed like they were nice to have, but would not actually make much money. e.g. sensory/healing gardens, charity scheme, apprenticeship schemes, concessions for local people, workshops for board design etc etc.
They felt that if we stripped these out, we would turn more profit and ultimately be more investable. This is where a bit of heat was turned up in conversations!
They, as a bank, could not see the value of social and community profit from a project. I guess it is because their Corporate Social Responsibilities are dealt with by a different department? The ability for us to engage with the community is vital. We have seen it with our previous work where we spent years developing a trust with local neighbours and businesses and hence rode through the recession relatively unscathed.
What is true profit?
We do not think it is just financial. We believe that there can be a balance between financial, social and environmental profit. We can prove this point and we will!
To us, the ability to make money, make jobs, up skill young people, socially enhance, minimise environmental impact, have fun....this is the true profit.
How do you put a price on a smile?
What was clear, they loved our plans and could see that ultimately they would be very profitable. However, they made a few references that there were a few things in our plans that seemed like they were nice to have, but would not actually make much money. e.g. sensory/healing gardens, charity scheme, apprenticeship schemes, concessions for local people, workshops for board design etc etc.
They felt that if we stripped these out, we would turn more profit and ultimately be more investable. This is where a bit of heat was turned up in conversations!
They, as a bank, could not see the value of social and community profit from a project. I guess it is because their Corporate Social Responsibilities are dealt with by a different department? The ability for us to engage with the community is vital. We have seen it with our previous work where we spent years developing a trust with local neighbours and businesses and hence rode through the recession relatively unscathed.
What is true profit?
We do not think it is just financial. We believe that there can be a balance between financial, social and environmental profit. We can prove this point and we will!
To us, the ability to make money, make jobs, up skill young people, socially enhance, minimise environmental impact, have fun....this is the true profit.
How do you put a price on a smile?
