Business is a Mirror
Lessons from our business pivot and how you can benefit
In 2020, we re-branded twice. Crazy, right?
But there's a story to tell here and lessons to be learned.
As we settle into 2021, I want to share how your business can benefit from our business re-branding & repositioning.
It might seem irrelevant, but life is truly a mirror, and by practising what we preach, you'll see how our reposition can directly help you.
Firstly, let me explain why we've changed our name.
Reason for the Change
We have now re-branded to Purpose with Profit (PwP). 'We' is me—Bob Ratnarajah AND and the highly skilled experts, who want to grow purpose-led businesses, like you!
You may have known us when we were trading as Beta Catalyst Consulting (2010 - 2020), or maybe you heard through the grapevine that I was going to trade under my own name to share my business expertise with you.
After two name changes I settled on Purpose with Profit Pty Ltd. This name encompasses everything about growing world full of purpose-led businesses.
From a business perspective, it's important to explore why we made a change to our brand:
- Beta Catalyst Consulting (BCC) needed explanation. It was founded with a corporate audience in mind, and although #purposewithprofit was the mantra behind it, clients would only find out after engaging with us. PwP simplifies and broadcasts the message succinctly. Lesson –Don’t be clever, be clear.
- Using the word 'consulting' caused confusion, as the majority of the work is coaching, advisory, and speaking. Lesson –Say what you do.
- Purpose with Profit focuses on all things plant-based. Along with our lovely new leaf logo. Lesson – align branding to your values & target audience
- BCC was in the process of #bcorp certification; the most robust certification process for businesses doing good. PwP will be able to continue this. Lesson –build external authentic credibility
- For the final reason, read on below.
Background (2009- 2016)
Beta Catalyst Consulting has been around for over ten years. 'Be the catalyst' —be the change— in business.
The majority of my work was with larger corporations, like bionic ear company, Cochlear; recruitment company, Talent 2/Allegis; and other small boutique companies.
All the while, I was collecting case studies on businesses that focus on People, Planet strategies, and Profit, and how they can outperform the market.
In 2009 I founded a passion project: a plant-based community called #vstars. The primary aim is to enable members to socialize and learn from each other because vegetarianism was still taboo in Australia. The secondary aim is to support plant-based restaurants and businesses to grow the ecosystem.
With thousands of members in Sydney, we did cool things like:
- Collaborating with environment groups on campaigns.
- 1st to screen the movies Forks Over Knives in Sydney at a major cinema with a medical doctor speaking.
- And we supported hundreds of small plant-based businesses to ensure they thrive.
Raising the tribe gave me an opportunity to speak globally at 'Veg Festival' forums, on topics like the five reasons for the rise of veganism and how to grow plant-based businesses well! I forged connections with many global plant-based influencers and bodies, like the International Vegetarian Union, the oldest veg body in the world.
Members arrived at a plant-based journey from for animals, environment, health and even food justice.
In 2016, With the birth of my daughter, I wanted to focus on the why of businesses, instead of the what. Plant-based businesses have a massive positive impact for the planet, public health, and animal - that's who I wanted to serve.
After incorporating Simon Sinek's work (Start with Why), I mapped out how businesses can amplify and measure Purpose, People, Planet strategies as well as Profit. Most importantly, I laid out how this could benefit the growth of any business.
My Learning (2017- 2019)
From 2017, I worked with smaller businesses, helping them to get out of trouble when the ‘hummus hit the fan’.
Many of these small businesses said they wanted to grow, and yet their actions did not match their words.
I thought, 'If I can guide a business out of trouble, I can certainly help any well-run business to grow significantly—as long as the founders want it."
We are going to see a plant-based world in our lifetime – but most authentic businesses are unaware – and not prepared for the change.
I created a keynote presentation; Drivers Accelerating a Plant-based World, to bring the information I had gathered to an audience of plant-based businesses. It was a hit! Attendees loved the presentation, Q&A session, and the networking.
Then, Covid-19 struck.
I started holding zoom calls for my network of plant-based businesses to get them through Covid-19. Businesses loved it!
2020: Pivot 1
In the meantime, an acquaintance was hesitating to connect me with a plant-based startup founder in Sydney. When we did meet, he was surprised by my industry knowledge and global networks.
While those close to me recognised me as a plant-based thought leader, I was largely hiding away from the public.
This event was a clear sign I needed to come out of the shadows.
In May that year, I signed up to a business school that focussed on unpacking IP to benefit the clients I serve. I was to launch this under my personal name. It was time to step out into the light, and shine.
In July, I was well on my way, and my website Bobratnarajah.com was live.
At the 11th hour, I pulled the plug.
Something wasn't right.
2020: Pivot 2 - The Final Reason
I have a question that I ask each client:
'What's holding you back from growing your business?'
The more I asked that question outwards, it was sinking inwards.
Since 2009, I have met talented individuals and businesses doing 'good' while making a commercially viable enterprise. Many have found it very tough, not only in the vegan food space, but also the eco and social entrepreneurial space.
A few have climbed out of the purpose vacuum to make a commercial success.
By commercial success, I mean a scalable enterprise.
To shape the world for the better, I believe we need to create more livelihoods.
There is a need to bring together experts who share a collective vision of Purpose with Profit.
With my business acumen and insider knowledge of the plant-based industry, I knew I could do this.
But I felt uncomfortable uniting all these businesses under a self-named brand; Bob Ratnarajah.
Under Purpose with Profit, it works. I'm the Chief Enabling Officer.
Small & Medium Plant-Based Business
Business Growth Program (>50% growth)
For ambitious plant-based food business who want to raise their revenue in less than 12 months. We work with business founders to identify and close strategic gaps before growing their business. This program is limited to seven businesses.
Group Business Mastermind (New for 2021)
For businesses wanting to set a foundation before moving onto the Business Growth Program. Suitable for businesses with five staff, five years' experience and roughly $500K revenue.
Thrive with Purpose Coaching Program (20% Growth)
For future leaders and business owners to distill the best path to maximise their Passion, Skills, Revenue, and Impact.
For plant-based business owners to cover essential and relevant topics.
Medium & Large Food Businesses
Speaking & Consultation
Presenting to boards and industry bodies about the drivers accelerating a plant-based world, and how they can be commercially prepared for the mega-trend.
Experts & Funding As Needed
Clients have access to quality experts, who also want to align with plant-based, purpose-driven businesses.
The Global Shift to Purpose is Happening
Many of these bodies are forming a joint collective under @imperitive21 –70,000 businesses with $15 Trillion in capital.
The focus now is on conducting business with the wellbeing of people and the planet at the forefront, and measuring success based on social and environmental value alongside financial profit.
In my data-backed opinion, plant-based businesses are already ahead of the curve, provided they are run well.
And by aligning your business with purpose with profit, you can thrive in this new, conscious world.
What About You?
Rebranding & repositioning is always a risk. But sometimes, the risk is worth it. Remember Kodak?
Especially when your business is aligned with your values. Could there be a better feeling than leading the way towards a better world? Sometimes it takes a little twist of repositioning to get the formulae right.
We rebranded & repositioned because we believe in the power of purpose-centred business.
What do you have planned for your businesses in 2021?
What are your fears? Your obstacles?
I'd like to hear from you.
Let's schedule a short call to see if we can help in any way.
Here's to your abundant 2021!