Compass
(x)
S T R AT E G Y
®
2013 Impact Report
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Introduction
The aim of this report is to record and publicly share
Compass(x) Strategy’s 2013 results; to celebrate our
successes, analyze our shortcomings, quantify our impact,
explain our decision making, and declare goals for the future.
We encourage you to contact us with any
questions, comments, or feedback.
Email: [email protected]
Phone: 773.255.4853
Website: www.compassxstrategy.com
Twitter: @compassx
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Overview of Compass(x) Strategy
Compass(x) Strategy is a Chicago based marketing and
brand strategy consulting firm. We started our business in
2009 out of a passion to help companies that are striving
to succeed by putting something good into the world.
Today we continue to help passionate companies achieve
sustainable growth.
We launched with a very simple, yet aspirational mission:
use our skills as marketers as a force for good. Our belief
in building a better business guides our interactions with
each other, our clients, and our community.
We are proud to be a Certified B Corporation and an
Illinois Benefit Corporation.
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Letter from the Founder
On January 2, 2013 Compass(x) Strategy became one of the first Benefit Corporations in Illinois.
It was a big day filled with speeches, celebration, and (of course) some paperwork. Changing our
corporate structure was the next logical step to ensure that Compass(x) Strategy was a force for
good, a journey that began at the company’s founding in 2009. As we continue to grow, we intend
to hold true to these principles and embrace a broader definition of success. Not just how much
money we make or how many clients we have, but a definition that measures what we have truly
accomplished.
We are a brand strategy firm that believes deeply in the importance and power of marketing.
Because of marketing people are made aware and are compelled to learn more about phenomenal,
world changing products. Yet, according to the annual Gallup Most Trusted Professions survey,
advertising and marketing professionals are near the bottom of the list, scoring only slightly better
than state officeholders and car salespeople. Yikes. We aim to do better, through the work we do
and the impact we create.
Over the next few pages, we will lay out our accomplishments during the past twelve months and
highlight what we intend to achieve in the upcoming year. We want to do this, not just in terms of
financial results, but also how we want to get there — our practices and policies that ensure we are
living our values every single day, through every single action. Thank you for taking an interest in
this. We are honored that you are taking the time to learn a bit more about us.
B the Change,
Nancy Goldstein
Founder and Chief Strategist
Nancy Goldstein
Founder and Chief Strategist
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Our Story
“What matters is that you do good work. What
matters is that you produce things that are true
and will stand…What matters is not the perception, nor the fashion, not who’s up and who’s
down, but what someone has done and if they
meant it. What matters is that you want to see
and make and do, on as grand a scale as you
want, regardless of what the tiny voices of tiny
people say.” - Dave Eggers
Founder Nancy Goldstein’s marketing career began in the world of consumer packaged goods: Now zestier! Buy one get one free! Our stuff is 30%
better than the other guy’s stuff! But after fifteen years in brand management marketing breakfast pastries, taco shells and fluted ceramic bakeware,
(plus a few years at a brand strategy consulting firm growing chemical and mortgage brands) Nancy decided it was time for a change. Her work needed
to matter.
In 2009, she launched Compass(x) Strategy, a firm created to help the good guys win. Nancy wanted her company to be a model for how marketing
could be a force for good. That meant not just working with clients striving for good, but to make her firm a more responsible consulting firm.
She started with some principles of what a good firm should be:
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Build philanthropy into every project, not just “whatever we choose to do at the end of the year.”
Provide discounts to sustainable startups and small nonprofits so they can get the advice they need, not just the advice they can afford.
Teach along the way so that our clients continue to get better and don’t pay us to do the same work over and over again.
Run our business as environmentally responsible as possible, including hosting our website with renewable energy and purchasing carbon offsets.
We continue to build on our commitment to build a better strategy consulting firm. In 2011, we became a Certified B Corp, and in 2013 we were one of
the first to register as an Illinois Benefit Corporation. As we continue to scale, we intend to not just increase our employee and client base, but increase
our positive impact.
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Why We Chose to be a B Corp
As a marketing strategy firm, we see a
lot of false “good” claims. We didn’t just
want to claim we were a company held to
higher standards; we wanted to prove it.
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Being a B Corp
2011
2013
The B Impact Assessment score has a possible 200 points
Eighty points are required to qualify as a B Corp
Eighty points is the current median score for businesses who have completed the assessment
For more details on our score please visit our page at Bcorporation.net
Paperwork and happiness usually don’t go together. Officially
registering as a Benefit Corporation was an exception.
We chose the B Impact Assessment because it is an intense audit that ensures we’re meeting the
highest standards across all areas of our company.
B Corps are certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency. There are currently over 900 companies that
have chosen to use the power of business to solve social and environmental issues.
Unlike traditional businesses, B Corps:
• Meet comprehensive and transparent social and environmental performance standards.
• Meet higher legal accountability standards.
• Meet the highest standards of corporate awesomeness for employees and the community.
Goals for the future
By 2015 we aim to raise our
B Impact Assessment score
by an additional five points.
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Three Ways of Giving Back
We believe business can be a force for good.We
wanted to make sure that regardless of the work
we do, that there is community benefit. We wanted
to make it more than just making a few donations
at the end of the year. To accomplish this, we have
built philanthropy directly into our business model.
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(x)
Compass
S T R AT E G Y®
2% For The
Community
Nonprofit + Purposeful
Start-Up Discount
Pro Bono
Nonprofit Clients
Two percent of
every project’s fees
are donated to a
charity of our clients’
choosing through
Tis Best.
We provide up to 40%
off for sustainable
start-ups and
organizations that
would not otherwise
be able to afford
consulting services.
We do the work
for free when
organizations are doing
amazing work but still
can’t afford consulting
services.
In 2013 we increased the amount of money we gave back by over $30,000
2013
Pro bono
25%
Purposeful
Discount
75%
Total: $88,615
2012
Pro bono
25%
Purposeful
Discount
59%
Full Fee
16%
Learn more about the
clients we’ve helped
Goals for the Future
For 2014, we are implementing a new
community grant that will allow local
nonprofit organizations to apply to
receive pro bono work. We believe this
will bring more transparency to our pro
bono project selection process and give
those that are not currently on our radar
an opportunity to receive services.
Total: $56,977
These charts represent the total annual value of gifts, donations, and discounts.
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Our Partners, Suppliers and Vendors
At Compass(x) Strategy, we seek to align our
purchasing decisions with the impact goals
and values of the company. We believe this
not only ensures our actions are consistent
with our words, but also serves as a catalyst
to broaden the adoption of sustainable
business practices among other companies.
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Our Selection Considerations
Product & Service Vendor Preferences
Taking into consideration function, quality and price, purchasing decisions shall also favor
companies that:
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Are certified B Corporations
Have taken the B Impact Assessment and make their results publically available
Are headquartered or have a presence within the local community (100 mile radius)
Have a stewardship and conservation of our natural environment
Publicly disclose environmental, social impact, and activities through regular reporting
Have a high-involvement corporate culture that values and rewards everyone’s contributions
Supplier Review
New suppliers that are not certified B
Corporations or have a B Impact Assessment
score will be asked to complete a short survey
about their business practices. The results of
this survey will be taken into account for any
supplier selection.
Goals for the Future
In 2014 and beyond, we intend
to increase not only the number
of B Corp partners and vendors,
but increase the portion of our
spending with them.
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Partners and Suppliers
Vendor and Partner Breakdown
2013
2012
7.3%
65.5%
4.1%
23.0%
# of Vendors
% of Vendor Expenses
# of Vendors
% of Vendor Expenses
B Corp and Non-Profit Partners
IDEACTION
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Cultivating Company Culture
Working at Compass(x) Strategy means being
collaborative, open and honest, with just a
dash of goofy. This approach fosters the kind
of trust it takes to challenge each others’
thinking, beliefs and decision making. It’s what
allows us to ask the hard questions and follow
our curiosity. In the end, it allows us to better
enjoy what we do, how we do it, and produce
better work.
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Our Values
Give Back
Giving back for our clients, for each other and
for the greater good. We believe that the pie is
big enough for everyone — more pie is good!
Be Curious
There’s a whole world out there and good ideas
can come from anywhere. Let’s learn some
stuff.
Do What is Right
We give our time, our money and our expertise
to make the world around us just a little bit
brighter.
Be Collaborative
We deal with complex issues and no one has all
the answers. Let’s work together to bring out
the best possible solutions.
Have Some Fun!
Do we need to explain this one? Work hard, but
mix in some music, some conversation and a bit
of random goofiness.
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Have Fun and Embrace the Geek
Be Who You Are
At Compass(x), we believe in bringing your whole
self to work. We are not just the work we do —
we are people that love Star Trek and Firefly,
music and the internets, well-made Manhattans
and overly complex video games. We strive to
be open to each others’ viewpoints, political
positions, religious beliefs and cultural backgrounds. Honest, open, transparent feedback
isn’t just a nice sounding idea to us. It’s how we
run our company, make our decisions, and move
forward on projects.
Stuff We Like on Our Blog
We go out of our way to incorporate our love of
pop culture goodness whenever possible. You
can take a look at our favorite stuff on our blog.
The Compass(x) Music Spotify Playlist
From The Airborne Toxic Event to the Yeah
Yeah Yeahs, with a drop of Wilco and a touch of
Frightened Rabbit, it’s a wicked playlist on Spotify
with contributions from the entire team.
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Cultivating Company Culture
Full Team Postmortems
At the end of projects and big meetings, we
conduct full team post mortems where everyone
provides feedback using a 3-Up / 3-Down system
to encourage both positive and negative observations on a project. This ensures that every
voice is heard, allowing us to continuously
improve our work.
Quarterly Feedback
Sessions - Not
Performance Reviews
We’re not big fan of performance
reviews. They tend to be based on
numbers that force people into
a box and rigid actions. So our
quarterly reviews are designed
to be two-way conversations that
focus not only on what we’ve
accomplished, but how we can
work better together.
Top-Down Transparency
Every member of the Compass(x) team has
full access to the inner workings, logistics and
financial performance of the company. This information is regularly shared with the team.
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Environment and Sustainability
Protecting the environment is something
all businesses should do, not just the ones
with factories or complex operations.
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Being Responsible for Our Environment
We use recyclable office products and natural cleaning products. We recycle and reuse whenever possible. Living in Chicago gives us the opportunity to take
public transit just about anywhere in the city limits.
When no other option is available, we strive to carpool.
We encourage each other to bike to work.
We annually purchase carbon offsets.
The Future of our
Environmental Efforts
Although we’re committed to making
these choices, we currently have no
system for tracking this information.
In 2014 we will implement tracking
transit choices in order to provide
ourselves and our stakeholders with a
better view of our transportation data.
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Legal Reporting Requirements
Our Benefit Director is Nancy Goldstein and can
be contacted at [email protected]
Please feel free to contact us directly with insights,
comments, questions or feedback.
To publically record the requirements of 805 ILCS 40/Art. 5.01
subsection (a) (3) our Benefit Director is Nancy Goldstein.
To publically record the requirements of 805 ILCS 40/Art. 5.01
subsection (a) (4) Nancy Goldstein receives no additional compensation for holding the position of benefit director at Compass X
Strategy Inc.
To publically record the requirements of 805 ILCS 40/Art. 5.01
subsection (a) (5) Nancy Goldstein owns 100% of Compass X
Strategy Inc.
To publically record the requirements of 805 ILCS 40/Art. 5.01
subsection (a) (7); there is no connection of any kind between B
Lab and Compass X Strategy Inc. that would affect the credibility
of the use of the B Impact Assesment as a third party standard.
Any additional requirements of reporting duties under the Illinois
Benefit Corporation Act were covered elsewwhere in this impact
report. The entire Illinois Benefit Coporation Act law can be read
in its entirety at the Illinois General Assembly website by following
this link.
Email: [email protected]
Phone: 773.255.4853
Website: www.compassxstrategy.com
Twitter: @compassx
It is my opinion that Compass X Strategy
Inc. has acted in accordance with its general
public benefit purpose under the Illinois
Benefit Corporation Act and that the directors
and officers of Compass X Strategy Inc. have
complied with their duties under Sections 4.01(a)
and 4.10(a) of the Act, respectively.
Nancy Goldstein,
Founder and Benefit Director
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