CEO Today - January 2023

In a world where capital will be more scarce and expensive, investors are looking for companies with a clear social or environmental mission and founders that can attract the talent and capital required to scale. When talking about mission-driven companies, I have to mention Too Good To Go, a company that fights the growing issue of food waste. The co-founder Lucie Basch put mission at the core of the business, and said: “If I’m not able to take the ‘plunge’ and do something with purpose that positively contributes to a society in which I want to live, then nobody will.” Launched in 2016, Too Good to Good is now present in the U.S. and 16 other countries, including France, Canada, Germany, Italy, Portugal, and the United Kingdom, has 67 million app users, more than 128.000 businesses connected to its platform, has saved more than 174 million meals from landfills, and experienced 87% growth in 2021 and expects 50%+ in 2022. And in the time of challenges, Too Good To Go has never been so successful. It’s also important to highlight how these types of market conditions can benefit young companies. The slowing economy and pace of funding means less competition in the market. As companies large and small slow recruiting, that is your opportunity to attract the best talent and engineers to your company. With less investment flowing into companies to spend on more growth advertising costs should decrease as companies aim to grow less aggressively. If you turn the challenges of today’s economy into strategic opportunities for you, new business investors will follow. Don’t be afraid to start your own business today. The economy’s challenges are filled with opportunity and we need entrepreneurs like you to help solve our most pressing challenges. In the end, the task might be harder but possible to achieve. Alexandre Mars is a serial entrepreneur, philanthropist, and author of Mission Possible: How to Build a Business for Our Times, published by Nicholas Brealey Publishing (Hachette) on 10 November 2022 and available in paperback, priced at £16.99. vision & strategy 53

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