Giving Back is Good Business

If you are a member of the Entrepreneur Architect community (and if you read the blog, listen to the podcast, subscribe to the newsletter or participate at the Linkedin group, that would be you!), you already know that I was invited to Chicago by my new friend Matt Ostanik, the CEO of Charrette Venture Group and the founder of the the Architecture Business Plan Competition. I was a member of the jury who judged the submitted plans and helped to choose the winners.

In addition to the competition, AIA National was holding their annual convention among the amazing architectural treasures of the Windy City. For my thoughts on AIA Convention 2014 and my call to action to small firm architects for Convention 2015, please click over to Episode 36 of the Entrepreneur Architect Podcast and listen all the way through to the end. Leave a comment over there as well. I’d love to know what you think of my ideas.

The business plan competition was a huge success. There were over 130 registrations, more than 50 submissions and 6 finalists. The winners were announced in Chicago and an official press release was distributed yesterday. Matt and his team have also prepared a short summary of each finalist at the competition website and have shared an excerpt from each of their final plans.

I am inspired and encouraged by the results of the competition. Entrepreneurism is alive and well in the profession of architecture. We reviewed dozens of successful plans and many of them were unique, innovative alternatives to the traditional design firm. As much as I love seeing a traditional firm running like a clock, my passion begins to boil when I hear new ideas for the profession. Architecture is more than CAD files and zoning regulations. We have the power to save the world and many architects, young and old, are planning on doing just that.

An Interesting Thing Happened in Chicago

Each finalist from the competition was invited to Chicago to present their finished business plans to the jury. Each was a well developed entrepreneurial solution to the business of architecture, but a very interesting thing happened in Chicago.

After all the presentations were complete, the jury convened to discuss the merits of each with the intent of choosing a winner. We shared our opinions on each plan and discussed our thoughts regarding the teams assembled to execute the solutions.

Choosing a winner was not as simple as we had hoped. For over an hour we talked, and as we talked, another plan would rise to the top. We reviewed the concepts, the financials and debated the “pros” and “cons” of each document. Every plan was exceptional, but three of the six finally rose to the top. Each of the three was worthy of first place, but we needed to pick a winner. Certainly, no one would be happy if we split the $10,000 grand prize three ways.

And The Winner Is…

Ultimately, we awarded first place to Scott Larrick of Eleven:59 Studio for his innovative solution to the affordable housing crisis occurring in Austin, Texas. Second prize went to Katherine Darnstadt of Latent Design for her approach to using architecture and design to solve critical social issues. We then created an Honorable Mention award to recognize Seth Anderson for his exceptionally well developed plan for Ascent Architecture & Interiors based in Bend, Oregon.

We reviewed every plan in detail and awarded the best for their creativity, their innovative solutions, their beautiful presentations and their approach to architecture as a business. It will be exciting to watch these firms as they grow. There is no doubt that each firm will be a success and each leader will rise among the ranks of influencers in the profession.

So… what did I find so interesting?

When the dust settled and the top prizes were determined, we noticed some interesting similarities between the top two plans. Each presented a successful solution to the business of architecture. Each will be a profitable and enduring company. Each will create beautiful works of architecture. Each will be very successful, earn their teams well deserved financial rewards and each will give back, directly to society, as they do. The more successful they become, the more society will benefit.

Each of the winners have built their plans around the concept of the Benefit Corporation.

The Benefit Corporation

A Certified Benefit Corporation is a new type of company that uses the power of business to solve social and environmental problems. Over 1,000 companies throughout the world have chosen to become certified by the nonprofit B Labs to meet rigorous standards of social and environmental performance, accountability and transparency. Dozens of U.S. states and nations around the world have signed benefit corp legislation into law.

The Benefit Corporation is quickly growing into a global movement and without intentionally rewarding the top prizes to the most socially forward thinking plans, that was, in fact, exactly what the jury did. It was not the focus of charitable giving on which we chose to award. We selected the best plans. We selected the most financially viable, most creative, most successful plans and both plans were structured around giving back. Giving back… is just good business.

Is your firm structured to benefit society? Do you know a firm that is? I believe we will soon see many more B Corps in architecture. Leave a comment below and lets talk about the B Corp movement.

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Photo Credit: B Lab