We've all heard of the "bottom line" - a figure of speech mainly associated with a firm's profitability. We think it's time that firms, including startups, expanded that one dimensional approach into something more relevant, where all key stakeholders are addressed: The Triple Bottom Line. What does this mean? Instead of focusing solely on profits, Triple Bottom Line firms attempt to cater equally to two additional stakeholders, namely people and planet. Here's a simple illustration:
The Triple Bottom Line concept is simple enough to be taken up by companies as a set of general guidelines which they can modify and adapt for themselves. Below, you can see an adaptation of the framework by Uber, the global ride-hailing and delivery company*.
In most framework adaptations for this concept that I have seen, companies end up assigning their values to the 3Ps (People, Planet, and Profit), however Uber has gone a step further by also capturing the intersections in this Venn diagram, which provides a great example for companies that have not yet made the transition. The center of the framework, where all three "P's" overlap, is where sustainability lives and thrives.
Finally, with respect to sustainability and impact, John Elkington has taken the concept even further and elaborated on the sustainability angle: