Time's Up!

6Thank Goodness—A New Definition for ESG That Really Does Make a Difference

We've talked a lot already about being purpose‐led and moving beyond words to taking action to become impact‐driven.

Here we're going deeper, much deeper, on that.

And we've stressed time and time again that becoming a subscription‐led or subscription‐based business is all about relationships and belonging as opposed to simply transacting.

Naturally you want those relationships to be long‐term, to be sustainable, and sustained.

And here, we're going to go deeper, much deeper, on that too.

First, let's jump back to purpose and state the obvious: it's very, very hard to measure purpose. By contrast, it's quite easy to measure impacts!

But professionals—particularly accountants—want to measure everything that moves (and everything that stays still too, as well as some things we can't really get our hands on).

And that penchant for measuring things—every thing—sometimes makes life extraordinarily challenging.

That's the case with ESG. And just in case you're not up to date with that acronym, it currently stands for environmental, social, and governance. [Special note: Please do not read into this that we think this measurement process or the focus on it is necessarily cool. In fact, in a May 2022 The Soul of Enterprise podcast, Ron and our colleague Ed Kless focused on ESG and headed the episode (#389), “ESG—We Respectfully Dissent.”]

Here's a key, I think there's a much better use of that acronym for your ...