On the plane back from China, I killed a couple hours with Start Something That Matters by Blake Mycoskie, the founder of TOMS Shoes. It caught my attention with the entrepreneurial angle and clinched the deal with the shoe connection.
TOMS, Shoes for a Better Tomorrow, is a remarkable brand. Everyone knows TOMS and everyone loves TOMS. If you’re not familiar with their story, they give a pair of shoes away for every pair they sell.
Did you know they’ve only been around since 2006? It’s hard to believe, but I think illustrates the strength of a powerful story.
As a charity, TOMS is terribly inefficient. Other organizations help far more people for far less money. But that’s the beauty of TOMS — it’s not a charity.
It’s a for-profit company with a do-good story.
And it’s a good reminder that economic growth has lifted more people out of poverty than every charity, welfare program and NGO combined. Non-profits have their place, but the profit-seeking companies typically generate more innovative solutions to the problems of the worlds poor (as argued in Capitalism at the Crossroads).
The book is a quick and interesting read, especially if you’re interested in how TOMS got started. It’s inspirational in that it makes you wonder what other businesses the “one-for-one” model could be applied to.
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Tags: shoes
I read this book a couple months ago and was inspired. I kinda already knew I wanted to build some sort of social business, but that clinched the deal for me. Now…to figure out what exact business that is? For starters, ESM Exec Designs is going to buy a laptop/computer for someone needy in the developing world with every website we launch. But I don’t think ESM is going to be my last venture along these lines.
I certainly urge everyone to read Blake’s story. More people need to be starting businesses like that.