A 2010 Queen Mary University of London graduate, Iman Fadaei is just at the beginning of his career. With a law degree under his belt, Fadaei is now focusing his time on creating social businesses that don't isolate doing good and doing well.
SocialBusiness.org chatted with Iman Fadaei over email about his freshly launched business, Ethical Art.
Four Questions with Iman Fadaei
1. How did the idea for the business model come about?
Hi! The business model for Ethical Art was inspired by existing brands such as TOMS Shoes and Warby Parker glasses, which offer a philanthropic benefit for every item they sell. In our case, every painting we sell educates a Maasai child in Tanzania. I think it's important to use a model that is transparent, delivers real benefit and customers can understand easily. In terms of the inspiration for the business itself, I was inspired during a family holiday by the amazing work being done by the Nonkodin School in Tanzania and felt that I should try and do something to help.
2. How did you decide to join this sector?
I studied law at university but was put off by the stressful, contentious environment I experienced in that sector. My mother has always been involved in charitable work and set up a successful company herself, so I was inspired to do the same. I set up The Positive Ideas Company Ltd in 2011 and now I try to create profitable businesses that provide solutions to existing social issues.
3. How do you get your inspiration?
Today, there is a constant stream of news and information about social problems and the individuals and organizations who are working hard to solve them. I try and stay updated on the latest and greatest efforts in the social business sphere, which gives me my daily dose of positive inspiration! I also find the spiritual writings of the Baha’i Faith very uplifting.
4. How do you reset yourself to be creative? Do you have any rituals?
I’m most creative when I meet new people, go to conferences and explore new ideas and experiences, so I try to do all of these as often as possible!
Why This Trend Is Growing
- Philanthropic Business Models
- Businesses can find disruptive innovation opportunities by incorporating philanthropic benefits into their business models, inspired by brands like TOMS Shoes and Warby Parker.
- Social Business Solutions
- There is an opportunity for businesses to create profitable solutions to existing social issues, like the Nonkodin School in Tanzania that inspired Ethical Art.
- Daily Inspiration for Social Business
- Staying updated on the latest efforts in the social business sphere and finding inspiration from spiritual writings can fuel creativity and innovation.
Industries Being Reshaped
- Art
- The art industry can explore incorporating philanthropic benefits into their business models, like Ethical Art which educates Maasai children in Tanzania through every painting sold.
- Fashion
- Fashion brands can adopt a philanthropic business model, similar to TOMS Shoes, to provide a positive benefit while selling clothes and accessories.
- Education
- The education industry can benefit from profitable solutions that address social issues, like the Nonkodin School in Tanzania that inspired Ethical Art.
