Quadruple Bottom Line
Traditional business accounting talks about the primary bottom line: Profit. It has become increasingly the norm for companies to also emphasize social impact(People) and environmental sustainability(Planet). These three measures of Profit, People, and Planet are collectively known as a “Triple Bottom Line” and are related to Corporate Social Responsibility.
While I’ve always tried to have a more holistic approach to how I run business with Taproom Coffee, the reality is that I didn’t officially consider anything past financial sustainability when I started that coffee shop. My business plan, operations, anything written down and documented - none of it talked about values or espoused Triple Bottom Line thinking.
As I’ve grown as a business owner and as a coach of other entrepreneurs, I’ve learned that there is a fourth dimension that ideally informs those other three: PURPOSE. You see it popular business advice like Simon Sinek’s, “Start With Why”. For me, personally, my spiritual worldview and purpose inform many of my decisions and outlook on life. Business philosophy and practice are no exception to that influence. While some might argue that the Triple Bottom Line sufficiently implies a sense or fulfillment of purpose, breaking it out as its own bottom line demonstrates that one holds it in such high regard that it warrants specific attention and even its own quantifiable KPIs. Adding “Purpose” to the mix, we then come up with a Quadruple Bottom Line model, made up of the four P’s: Profit, People, Planet, and Purpose.
As we set up Opo Coffee, we are continually asking ourselves: How does this fulfill our mission, holding to our values, with an attention to a Quadruple Bottom Line? We’re not claiming to have all the answers, and there’s certainly a spectrum of how much we do or don’t lean into any of the bottom lines. But what we want is intentionality and accountability in every conceivable area of our holistic-impact approach.
In that spirit, we are pursuing various partnerships and certifications that help us measure or keep us accountable to aspects of our Quadruple Bottom Line. These currently include 1% For the Planet and Living Wage for US, and we hope to add more certifications in the future.
As with any step of this crazy journey of business and entrepreneurship, I’m always approaching it as a humble learner, open to adjusting and improving and deleting as necessary. If you have any ideas, feedback, or suggestions, please leave a comment or reach out to me directly!