It seems every investor that I encounter is obsessed with achieving 10x returns for social enterprise investing, by leveraging the power of technology. The thinking is that if we only throw some innovative technology at the problem, we can restore the social and environmental balance and achieve a high return on investment. The idea of just throwing more technology at problems and flipping a switch will fix the problem and generate high returns, seems out of touch with reality. I have another idea. Why not investing in social enterprises that target the soul?
We have more than enough technology. Another widget or software alone is not enough. There is far too much focus on this strategy and the “quick fix”. Hunting vs. farming. Ribbon cutting vs digging holes. What we lack is compassion.
I was thinking of my father, who was a tailor. He made custom made clothes for women and had a small store on the Madison Ave and E. 77th street in Manhattan, NY. He worked very hard and loved his work, as well as life. When the rent was increased by 400%, he saw that the financial model didn’t work, so he closed the store and worked from home. I would see him cutting material on the floor at home and working at the sewing machine, late into the night. I told him he was charging too little for the quality he was providing. “Raise the price”, I said. He said “If I do that I might have less work and more money, but I like what I am doing and don’t want to work less”. When I looked at him working and the passion and quality that he put into his work, you could see that the end product was soulful.
When I look at my wife and what she is doing in turning the hospitality concept on its head with her focus on “conscious travel”. She combines cultural authenticity and sustainability by establishing a chain of Eco Lodges, in Bhutan. To support that and develop the hospitality sector, she created a hotel school (Bongde Insitute for Hospitality and Tourism) with Lausanne Hotel School alumni. Her focus was not technology, but the basics and values. It is working extremely well and was up and running in less than 4 months and generating revenue in less than 6 months. If you look at the video of the students learning how to make bread, pasta, taste tatin, set tables, making beds, etc. you see the soul in their eyes. This was not achieved with an iPad and an ap but through love, dedication, and commitment.
Technology can be helpful in some situations but it has become the end all and be all. Why don’t we focus on supporting soulful enterprises and give them the wings to fly.
“The most powerful weapon on earth is the human soul on fire.”