Generous Minds is now a certified B Corp
Generous Minds, a rising star in the consultancy world? Yes, says creator and initiator Ronald Beuk, but one that is very different from all the rest: “And we’re not really a consultancy, but an investor. In the sense that we don’t just invest expertise, we also invest growth capital.”
With GenerousMinds on board you don’t have to go it alone. They have top experts who can determine whether or not your business plan is a winner. And there is more: together with the entrepreneur, they make the plan suitable for investors, and they take on an active role in the business by making an investment or as a shareholder. Ronald: “We call this Covestment. We don’t just supply, we also participate. We have the people who at some point in their lives decided: ‘I’m not living just for me and I want to make the world a better place, and if that means making a little less money, that’s okay.’ That’s what makes us unique.”
GenerousMinds Works for start-ups, medium and small businesses, and for major corporations. “If after thorough investigation we decide that an initiative, product or service will not only make the world a little better, but also has a chance of success, we draw up a growth plan and, if necessary, provide the funds. The fee we charge is partly plowed back into the business in the form of an investment. That’s how we, together, put the show on the road.”
It seems almost too good to be true. Is there still any money being made? How do you survive? Ronald: “Covestment is rooted in a basic principle that makes it possible for us to keep doing this. As covestors we are exclusively focused on long-term success, which means we can grow along with our clients’ businesses. This puts us in a position where in the short term we are able to charge a fair hourly rate based on the business’ stage of development. Also, we apply a low internal fee, which allows us to invest up to half of the hourly rate we charge back into the businesses that we coach. And we are always looking for suitable external investors who want to get on board with slow money. So we are talking about our money and that of external investors, and we say: we want to see a return on our investment, but it doesn’t have to be tomorrow. This points to the main reason that many Good Business ideas never come to anything. Consultants charge excessive fees, there is very little commitment to the idea, and investors are looking for quick returns on their money. That’s where we step in. We prove that covestment is a winner, as long as you have the right people for the job and access to the right money – and we do.
GenerousMinds was established as a covestment co-op in June 2013. “First we took great care drawing up our working methods and organizational model. Then we started approaching financial parties and selecting suitable experts through careful assessments. The beauty of it is that wanting to make a contribution to a better world for a modest fee often attracts experienced people who have come quite a long way in their careers. We now have 40 covestors: top lawyers, marketeers, financial experts, organizational experts and experienced communications people who are serious about investing their money and expertise and on top of that also want to become part-owners of GenerousMinds. This is what makes us really strong.
GenerousMinds has now been awarded a B Corp certification with a very good score of 123 points. It’s a clear confirmation that we are on the right path. “Of course this is a good thing to happen. It’s a confirmation of what we already knew. That Good Business can only work if you are willing to literally become part of your clients. GenerousMinds combines the forces of experts, entrepreneurs and capital to make the world a better place. This is a unique and strong concept, but that’s not all: it’s the right concept at the right time. There’s growing demand for Good Business, not just because it’s fashionable, but also because people are sensing that we can only push things so far. We have to learn to treat our world with greater care. Businesses that only further exhaust the old production factors capital, nature and labor no longer have a future. It is now time to join forces for Good Business.”