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Advice

Business coach Hemi Hossain on how to grow business and make a difference at the same time

- April 17, 2023 2 MIN READ
Business coach Hemi Hossain
Business coach Hemi Hossain. Photo: Supplied
In today’s world, businesses are not just about making money but also about making a difference.

Customers are more aware of social and environmental issues than ever before, and they expect businesses to take responsibility for their actions. So, how you ensure growth and make a difference at the same time?

First, let’s take a look at the statistics. According to a report by Shopify, global e-commerce sales are expected to reach $6.54 trillion by 2022. This shows the immense potential of e-commerce as a business model for entrepreneurs.

In addition, a study by Statista found that in 2021, there were over 4.9 billion active internet users, with an estimated 5.5 billion expected by 2025. This represents a huge market for digital entrepreneurs to tap into.

Unpack your purpose

Identify the “why” for your company’s existence. The best approach to changing the world is to have a compassionate “why.” Fundamentally, this entails developing goods or services that are designed to assist customers. Although the main goal of what your business does may be to better lives, the ultimate goal of your business is to make money.

Not many people can turn over their rough life journey into a smooth one. Only extraordinary people have this capability.

If you don’t have the passion and enthusiasm to grow your business and make a positive impact in society then you can’t enjoy your work. For example, as a digital entrepreneur my main motive is to empower people with the best assets, relationships, education, coaching and experiences to drive change and take them to the next level.

I believe in “Making money, doing good”.

Many business owners find initial success by imitating a rival’s business strategy. Yet, if you want your company to expand, you must distinguish it from the competition and develop a distinctive brand identity. Customer interviews may be useful in this situation as well.

The link between purpose and profit

It’s important to note that making a difference does not mean compromising on profits. In fact, businesses that prioritise social and environmental issues often perform better financially. According to a study by the Harvard Business Review, companies that prioritise sustainability and social responsibility have better financial performance than those that do not.

Businesses, like living organisms, are driven by their natural instincts to live, grow, sustain, and prosper. Based on my experience, I’m convinced that success is all about a growth mindset and the habits you have developed for tackling problems and challenges.

Giving back

I have never forgotten my humble beginnings in Bangladesh, and when the opportunity to expand to other countries arose, there was only one place on my mind – Bangladesh.

I founded the DGEN Academy, an Australian-based EduTech platform to train and provide digital skill development to South Asian youth and professionals to help them become a part of the global digital ecosystem.

We have come up with ASHANA Corp, which is a start-up partnered with a 10X incubator. This Global Marketplace allows rising entrepreneurs to monetise their new skills while building a sustainable enterprise and meet potential clients.

Is there anything more fulfilling than changing people’s lives, motivating others, and enhancing the environment around you? Your business is your best resource for changing the world. Your clients and staff will appreciate it, and your rivals might get the idea to do the same.

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