Tara spoke about what boards need to think about in governing with the heart of the not-for-profit organisation and the head of a corporate. The good news is that there are thousands of these businesses already out there, right around the world. But balancing financial sustainability and purpose in practice is really tricky – arguably much harder than running a traditional business where the main metric is profit.
“Purpose is a mindset, a philosophy. It’s everything you do. It’s not something you do, it’s everything you do,” she said.
A lot was shared. Tara was asked many fabulous questions. The breakout rooms were buzzing with ideas and revelations.
A Take on Board podcast episode of this event will be released in the next few weeks. Tara and I also recorded a Q&A with all the other questions that we did not get to on the day. To make sure you don’t miss it, subscribe though your podcast app. Share the episode with a friend. Ratings and reviews are also welcome.
If you’re looking for ‘profit and purpose’ guidance, Dragonfly Collective offers tailored training and advisory services to for-purpose businesses at all stages of their journey. Please get in touch with Tara for follow-up workshops, training or advice from The Dragonfly Collective.
Tara has shared the following resources.
For-purpose business model workbook: The workbook offers internationally recognised tools and guidance to blend financial sustainability and purpose – in a practical eight-step process. It’s based on academic research and four decades of practical experience (and many lessons learned!) leading for-purpose businesses in Australia, the UK and Europe at executive and board level.
Tara’s ‘governing for profit and purpose’ presentation: Due to limited time, Tara wasn’t able to walk us through all the information in her presentation. Many people requested the presentation – so here it is.
Meet the attendees
Many Take on Board podcast guests were at the event too.
Episode 109: Caitlin Siostrom on why size doesn’t matter when thinking about risk management
Episode 51: Claudia Fatone on governing Cricket Victoria during COVID-19 (Take on Board breakfast special feature)
Episode 38: Jocelyn Furlan on when there was still time to get ahead of COVID-19
Episode 46: Jocelyn Furlan on establishing an advisory council
Episode 60: Kate Badgery-Parker on navigating the world of marketing and boards.
Episode 8: Leonie Morgan AM wants more women in decision-making roles
Episode 146: Strategy session – Mallory Pehm takes her first steps into the boardroom
Episode 133: Michelle Redfern takes lessons from the pitch into the boardroom
Episode 103: Insights from the Take on Board Breakfast: Developing a Board Strategy with Morgana Ryan – Part 2
Episode 102: Insights from the Take on Board Breakfast: Developing a Board Strategy with Morgana Ryan – Part 1
Episode 115: Samantha McGolrick on why boards have a big role to play in wellbeing, health and safety
What did the attendees like about this event?
“Networking conversations as always. However this topic has given me a lot of motivation for the career change that I have been searching for so thank you!”
The breakout rooms. The Acknowledgement of Country – impressed with how so many people knew traditional owners and for those who didn’t, it’s a nice way for Take on Board to demonstrate how important it is to do so.”
“The presentation was excellent. Loved connecting with others in breakout rooms. Warm, friendly and professional facilitator.”
Board roles are often shared in the Take on Board Facebook group, so please join us there if you haven’t already.