Exploring the Tension between ‘Doing Good’ & ‘Making Money’

This blog was written by TDi’s Pacific Investment Readiness Program Lead, Anna Moegerlein.

TDi exists to awaken the possibility of doing good and making money; this deeply motivates us and shapes how we work with businesses and not-for-profits. However until recently, I didn’t realise how difficult this can be, and how deep my own dualism often runs.

Socrates, Plato and later Descartes held that the immaterial mind and the material body are two completely different types of substance. For nearly 2,500 years this dualist thinking, deeply rooted in Greek philosophy, has more often led us to compartmentalise and separate things, rather than acknowledging integration and interdependence.

We can see this today in the way our education system is structured, with the liberal arts separate from the sciences and commerce; or in how see ourselves as separate from the natural environment, as if we exist independently from it; and we see it in how we separate our profit-making from ‘doing good’ in business.

The thing is, TDi’s work in the South Pacific is teaching me much more about integrated business than I ever could have discovered in my own culture. Last month, we went to Samoa to set social outcome metrics for an impact investment. We had been referring to our trip as a ‘social measurement trip’. But the trip turned out to be much more than just agreeing on social indicators. Our interviews with farmers revealed a lot more about the health of the business and our investment than just expected social returns. It opened up a whole world of risk and opportunity. Our conversations over two days were the best due diligence we could have done on the business.

For the last 5+ years, TDi has been focused on building blended value business models; businesses that – by design – are scalable and do more good as you scale them. However, we have still been unhelpfully falling in the trap of associating the ‘social’ part of our work primarily with impact measurement. We are now trying to change our language and practice to something more integrated. We are looking at risk and opportunity, which is driven by both financial and social factors. We are trying to ensure the social analysis is integrated with the business and financial analysis, rather than sitting as the final tab on the spreadsheet.

While not every business in the South Pacific is committed to supporting community outcomes, Polynesian and Melanesian culture often supports the idea of the two going hand in hand – with the ‘social’ being embedded in the business from the outset. I recently asked a Samoan colleague if he thought a local business owner took social impact seriously. He found it an odd question and answered that since the business owner is Polynesian himself, he would of course be committed to community development.

I wonder if there is a word with a different etymology to the English word ‘business’ (which has its roots in busyness and anxiety). I haven’t found it yet, but it seems we need a better word to describe the possibility of integration, of doing ‘do good and make money’. If you know of one I’d love to hear it.

Spread the love

An important message about the future of TDi

At the end of 2024 The Difference incubator closed its doors. The Board and Leadership made the brave, bold decision to invest in the future, transferring resources to our impact area of Locally-led Regenerative Economies, now known as Neighbourhood Economics. This...

Decent Work for Women Exiting the Justice System: Employment Collaboration Project

Over the past few months we’ve been working closely with community organisations who support women and non-binary folk to rebuild their lives after contact with the justice system.In our previous blog post on Decent Work for Women Exiting the Justice System, we looked...

Lessons from PNG’s entrepreneurs: Enchancing our approach to business support

Part 3 of our series on economic development in PNG: Here’s what we’ve learned from working within PNGs unique entrepreneurial landscape that informs the work ahead, and our practice as a whole.

7 Key Insights from 7 Years of Economic Development in PNG

In part 2 of our series on our economic development work in PNG, we reflect on the lessons we’ve learned over the last seven years, and how they might inform the future of economic development work with our much beloved neighbour.

Advancing an inclusive economy in PNG: Understanding the context and our approach to economic development

Part 1 in a series where we reflect on our work in PNG over the last 7-8 years, as well as the lessons we’ve learned, and where we believe further work should be focused over the next decade as we dream about an inclusive economy for our closest neighbour.

Creating Decent Work for Women Exiting the Justice System

Approximately 4,500 women exit the criminal justice system across Australia each year. How can create decent work for these women and drastically reduce recidivism? We’re exploring five pathways forward for women’s economic equality.

Is social entrepreneurship a good bedfellow for systems innovation?

How can social entrepreneurship serve systems innovation to address global challenges, and how can entrepreneurship catalyse transformative change within complex systems?

Ten years, a new chapter: Pioneering a new economy worthy of the human spirit

After ten years of learning and unlearning in economic development, our new strategy is a roadmap to an economy worthy of the human spirit.

Women’s economic equality: Breaking barriers, creating opportunities

To dismantle the barriers holding women back from economic participation, we must challenge existing paradigms, embrace innovation, and create opportunities designed for and by women. We're committed to making women's economic equality a reality, and we invite you to...

Inner Development key to achieve sustainable business growth: Our InsideOut Model

By Anna Moegerlein, Deputy CEO   In the realm of economic development, a critical realization has emerged—the need for a holistic approach that integrates Inner Development with Enterprise Development. We’ve spent years testing and refining our approach to...