Do Well by Doing Good: Cash in on Positive Change with Lilly Tench

Good business with Lilly Tench

“You don’t have to separate the need to make money and support yourself and your family, and have fulfilling work that, that addresses some of these large problems in our world and that is really mission based.”

Lilly Tench on Making Money Doing Good Business

As the minds behind Dandelion Branding, we’re deeply engaged in the dialogue around using business as a catalyst for good. That’s exactly what we talk about in this episode of EnvironMental Podcast!

We were joined by Lilly Tench, author of the new book, “Good Business: How Entrepreneurs Can Use Business for Social and Environmental Change.” Here, we’ll dissect the main points from our chat with Lilly and discuss how both entrepreneurs and consumers play a part in forging a sustainable and fair future.

Why Good Business? Lilly Tench’s Odyssey and Vision

Lilly Tench fell into authorship when a vacation-epiphany (you know the kind, right?) spiraled into a full-fledged book! In her day-to-day, Lilly is a source of motivation for entrepreneurs at the Spark Innovation Center, where she advises trailblazers in clean energy, materials, and waste management.

That means Lilly’s book isn’t merely theoretical, it is a reflection of her dedication to propelling social and environmental change via business. Divided into three enlightening sections, “Good Business” acts as a guide for weaving impact into business strategies and shares powerful narratives of social entrepreneurs at the forefront; it is brimming with tangible instances of companies making meaningful progress in sustainability and social impact!

Empowering Solutions: The Function of Business in Social and Environmental Endeavors

Throughout our talk, Lilly stressed the transformative role of business in tackling critical global challenges. 

“There’s more and more understanding that business can be the most efficient and effective way to address [climate] challenges. And also that businesses can be sustainable, can be mission oriented, that there can be direct correlation with profitability and that there is more demand from the consumer side.”

Lilly Tench

We believe that entrepreneurs possess the distinct capability to devise solutions that are both ecologically responsible and economically sustainable. This dual emphasis is essential in the modern era, where the historical gap between profit and purpose is being closed by inventive business approaches.

But there’s always that catch22 – consumer demand for sustainability solutions is up – but companies doing the work need investment.

Consumer Influence: The Momentum Behind Building a Good Business

A key point in our conversation was the pivotal position of consumers in supporting conscientious businesses. Consumer demand for sustainable goods and services is one of the most powerful drivers of change.

That consumer demand needs to be high enough so that high-tech companies can secure investments that match their long-term goals. This is where patient capital is a crucial element for fostering the development of these progressive ventures.

“Education is a very necessary part of that whole big puzzle. I would say for [climate tech] companies, money is important. There’s a lot of tech development on the front end before you can actually sell to a customer. So they have more capital upfront needs than, you know, some other director consumer companies. Getting investors to understand these types of companies and that the return is not necessarily immediate but can be really large.”

Lilly Tench

Educating consumers on the influence of their buying choices creates a ripple effect. Not only does consumer education help purpose-driven businesses thrive by creating demand for their goods and services, it helps them secure future investments by giving them the capital they need to invest in looking funded.

Collaborating for a Sustainable Future

Lilly Tench’s “Good Business” is an invitation for entrepreneurs, consumers, and financiers to join forces in creating a sustainable and equitable planet. For those keen to delve deeper and engage with Lilly’s initiatives, her book is an essential tool, and we urge you to connect with her! 

Here’s how to connect with Lilly

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