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Why You Need a Contribution Mindset to Thrive in 2024 and Beyond How to set yourself and your business up for long-term success.

By Jarrett Preston Edited by Chelsea Brown

Key Takeaways

  • Adopting a contribution mindset that prioritizes social responsibility and sustainability can lead to higher customer lifetime value and longer periods of revenue growth, particularly among millennial and Gen Z consumers who value these principles.
  • Impact investing bridges purpose and profit. Aligning your investments with your core values allows you to create positive change while also increasing financial returns.
  • In today's market, authenticity and transparency are crucial. Businesses that align their actions with their values and clearly communicate their mission can build stronger trust, engagement and conversions.

Opinions expressed by Entrepreneur contributors are their own.

As the world becomes more connected, it also becomes more conscious of how actions affect climate. Sustainability is a core value among millennial and Gen Z consumers, who make up the majority of today's spending power across all industries. By investing in businesses committed to making a difference, you can ensure that your money will be put into a brand that has a higher-than-average customer lifetime value and, by extension, a much longer period of revenue growth.

As the CEO of Idoneus, I've witnessed first-hand the transformative power of embracing a contribution mindset. Today's marketplace is rapidly evolving, so much so, that values such as social responsibility and sustainability are of the utmost importance. It's equally important to understand the dynamics of impact investing.

Today's buyers want to know that the brands they support are making a positive impact. According to Harvard Business Review, 27% of millennial and Gen Z buyers are more likely to support a business if they believe that it cares about the planet and people. HBR goes on to highlight that sustainability demands are rising, ultimately driving trust, engagement and conversions.

In this article, I'll dive deeper into the principles of impact investing, discuss the numerous ways decision-makers can contribute beyond financial investments, and also explore the values that drive both millennials and Gen Z.

Related: Sustainability for Entrepreneurs — Why It Matters (and How to Achieve It).

Why you need to understand impact investing

As I have learned, impact investing is one of the most powerful forces when it comes to finance. Not only does it bridge the gap between purpose and profit, but it also works by deploying capital to generate quantifiable environmental and social impact. Sustainable business models are no longer just a fad; they represent the real future of investing. In addition, aligning your investments with your core values will allow you to create positive change while also increasing financial returns for your stakeholders.

Values that matter most to millennials and Gen Z

There's no question that both millennials and Gen Z make up a majority of our consumer market. Combined, they make up over 3 billion people on our planet and comprise 50.7% of the U.S. population. Both demographics prioritize their core values, including social responsibility, sustainability and finding ways to make a real difference in the world. It's these generations that are more likely to support your business, especially if it shares the same values and contributes to the causes they care most about.

As a result, having an in-depth understanding and finding ways to align with their core values is vital for businesses and investors. We always seek to prioritize investments in ventures that have a demonstrable ongoing commitment to social impact, ethical business practices and environmental sustainability.

Looking beyond financial investments

While making sound investments is important, the real impact is far beyond just monetary transactions. At Idoneus, we stand behind the power of giving back in numerous ways. These include providing ongoing mentorships to budding entrepreneurs, offering our expertise in specific fields and taking the time to build real, meaningful relationships with all of our stakeholders. We leverage our resources, influence and expertise to foster positive change not only in our community but around the world as well.

Related: Are You an Ethical Entrepreneur? Here's How Business Leaders Can Embrace Social and Environmental Responsibilities

Stay authentic and transparent

In today's business landscape, authenticity is a top priority. Consumers, stakeholders and financial investors are all seeking honesty and complete transparency from the corporations they support.

A Nielsen IQ report reveals that 81% of consumers believe transparency is "important or extremely important." I always prioritize transparency in my endeavors, from investment strategy to creating impactful measuring practices. I believe that making a real contribution isn't something you can fake — it's about aligning my actions with the values that demonstrate my commitment to making a difference. If you're wondering how to increase customer engagement, consider whether you are telling a transparent story about the intricacies of your business and its mission.

The future of impact investing

As the landscape of investing and building wealth evolves, the need for impact investing will increase. We are committed to choosing causes that matter the most and investing in ways that align with our core values. We're not only creating value for our stakeholders, but we're also contributing to a more equitable and sustainable future overall.

Explore whether your business can implement a give-back practice or allocate a percentage of top-line revenues to an aligned mission — or consider setting up a philanthropic arm or establishing a foundation to ensure your work leaves a positive legacy. Consider whether the causes you support have built-in infrastructure to ensure the capital you deploy arrives at its destination as you intend.

Related: Why You Need to Build Sustainability Into Your Business Strategy

Taking the time to embrace a contribution mindset is by far one of the best ways to be successful in today's socially conscious marketplace. Whether you're an entrepreneur, an investor or a CEO, truly understanding the core principles of impact investing and learning how to align your actions with your values is what will lead to long-lasting, meaningful results.

I'm proud to lead by example, demonstrating that no matter how impossible it may seem, it is 100% possible to increase your ROI while simultaneously making a difference in society and in the environment. By working together, it's also possible to create an even more sustainable, not to mention equitable, future for generations to come.

Jarrett Preston

Entrepreneur Leadership Network® Contributor

CEO of Idoneus, a leading blockchain-based asset trading platform.

Jarrett Preston is the author of the bestselling book, “Billions Under Pressure: The Art and Science of Creating, Exchanging and Protecting Value”, CEO of Idoneus, a philanthropist, and Veteran of the US Marine Corps.

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