Who are the authors?
Holly Branson is the daughter of the world-renowned entrepreneur Richard Branson. Holly is Chair of Virgin Unite and a part of the Virgin Group’s leadership team, dedicating her time to her passions: people, culture and purpose.
Craig Kielburger is a New York Times bestselling author who has written 12 books. He co-founded ‘Free the Children’, now WE Charity, when he was twelve(!) years old.
Marc Kielburger, Craig’s brother, co-founded Me to We Social Enterprise, an organization that engages millions of people to drive social change.
What’s the book about?
Basically, WEconomy is a step-by-step guide to embedding purpose at the heart of everything you do, both as an individual and as a business. It’s a roadmap for doing good and getting paid for it. Something we at Quest believe in very firmly.
WEconomy is a roadmap for doing good and getting paid for it.
Too many organizations still think that choosing for purpose and sustainability equals more costs and less profits. In this book, Craig, Marc and Holly provide ample evidence that companies are thriving by tackling social issues with business plans.
Who should read it?
In short: anyone who craves more meaning in his day-to-day activities and career. WEconomy is obviously an interesting read for (aspiring) entrepreneurs, but I can also recommend the book to corporate or SME managers and C-level executives. WEconomy will prove them that purpose is the key to employee happiness, productivity and retention.
Why should you read it?
WEconomy strengthens the message we at Quest continue to spread: doing good in business is just good business. Moreover, it offers clear guidance to people who are looking to embed purpose in their careers, lives and/or organizations.
I read the book during my holiday in the summer of 2018. It’s easy and fun to read and full of interesting cases. After reading it, I’m sure you’ll feel inspired, energized and determined to make a change.
I particularly liked Craig Kielburger’s chapter about differentiating products by adding ‘two scoops of purpose’. In this chapter, Craig explains how WE Charity and Me to We helped retail clothing brand PacSun differentiate their white T-shirts.
White T-shirts all look the same, yet you can buy a Fruit of the Loom shirt for 2.67 EUR and a Saint Laurent shirt for 345 EUR (Actually, you can’t buy the latter at the moment of writing this blog because it’s sold out).
The solution? Add purpose as a feature. PacSun added Me to We’s Track your Impact Codes to the T-shirts. When customers input the code online, they can find out exactly what charitable impact their purchase will make. This proved to be a real game-changer:
82% of TYI consumers talk to friends and family about their purchases, while 68% chose TYI over similar products, although they cost a little bit more.
An abstract from the book:
“Tracking proved that purpose could prop up the white T-shirt. It also proved an important aspect of customer behavior - shoppers will go out of their way to make socially conscious choices. Initially, PacSun assumed that customers would make a purchase, then take the product home to trace the impact. Instead, shoppers dug through piles of merchandise, brandishing their phones, inputting the codes online from the tags on a pile of identical t-shirts to find the one that gave vitamins to a child in India, or a chicken to provide eggs for a mother in Ecuador.
Shoppers craved a personal connection to their impact, choosing Latin America because of a family connection or school supplies because their parents are teachers.”