Impact is technically "the force of impression of one thing on another; a significant or major effect".
In venture, impact relates to the direct and indirect effects that a venture - and the creation and provision of its products and services - have on its employees, customers, stakeholders, surrounding communities, and the environment. For example:
<aside> 💡 Blockstack: a mission-driven company building distributed computing technology. Project Wren: reversing the climate crisis needed a new type of company. Hopin: creating 'better connections for a better planet' as an online events platform.
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TL;DR: Yes. As a founder, you probably already do (whether you realize it or not). If you have not understood and communicated your company's impact clearly to your audience, you're both missing a business opportunity and passing on a social responsibility. Today, with greater public awareness for the impacts companies have, not thinking about impact places you at a strategic disadvantage compared to mission-driven companies.
Find out why:
What are the benefits of understanding and managing impact?
<aside> 👉 Explore the rest of the FAQ: What is impact and why should I think about it? What are the drawbacks of paying attention to impact? What are the risks of ignoring impact? Should I incorporate as a Benefit Corporation?
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