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Business Trends

Millennials Shift Toward Social Responsibility

CEO Shares How Ethical Gen-Y’ers Will Affect Business

 

Social responsibility is a rising trend among millennials and this includes how they conduct business. 

As a group, Gen-Y’ers are value-driven, socially aware, and they seek to make an impact on the world. This mindset is quite different from previous generations and the shift is becoming more noticeable as millennials enter the workforce and establish themselves in the corporate world. In less than 10 years, millennials will represent 75% of the American workforce and will hold the majority of the purchasing power.

 

According to real estate CEO Brian Peavey, businesses must adapt to this new mindset in order to stay successful.  

 

“Prioritizing ethics and social responsibility in your business is absolutely mandatory not only to sell to millennials, but also to work with and (possibly one day) for them,” says Peavey.

 

Peavey has adopted a unique business model in order to ensure his house-flipping company stays profitable in the age of millennials: Profit Sharing!  His Boise-based company, aptly named “ProfitShare,” buys, renovates, and resells homes…and then shares the profit with owners. While profit sharing has worked in other industries, Peavey’s business is the only company in the real estate / flipping business to adopt this model. According to Peavey, it is a business model destined for success because it is grounded in ethics, honesty, and it is beneficial for both sides.
“Profit sharing promotes client engagement and loyalty, it lowers the cost of doing business, and it increases revenue and net income,” says Peavey. While the traditional model of house flipping often preys on people in financial crisis and frequently takes advantage of the original home owner, Peavey has found a way to partner with these home owners and include them in the success of the deal.

 

“There is no need to make money off the pain of others,” says Peavey.“By sharing the profits everybody wins!”

 

Not every business can adhere to the ProfitShare model, however it is this kind of forward-millennial-friendly thinking that is needed for a business to survive.

When the goals of the customer, supplier, and company are the same, business thrives!

 

INTERVIEW / ARTICLE TALKING POINTS

  • How business can adapt to the trend of social responsibility
  • How to ensure your business is ethical and millennial-friendly
  • Why ethical business models succeed
  • Why being selfish in business backfires
  • How consumers can be on the lookout for socially responsible businesses
  • How investors can be socially responsible

 

ABOUT BRIAN PEAVEY:

Brian grew up in Boise, Idaho since 1976 and has over 22 years in real estate, first as a Realtor and then transitioning to work in development, remodeling and property management. He holds a B.S. in Business Economics from Willamette University and an M.B.A. in Project Management from Keller Graduate School of Management. His daily responsibilities are to track real estate trends in the industry as well as local market activity, identify viable market opportunities, analyze project projections, track remodel progress, market properties for sale, negotiate contracts, safeguard expedited and cost effective closings, and ensure partner satisfaction. Brian and his wife Elisa live in Bend, Oregon now and he enjoys rafting, skiing, hiking, playing basketball and watching his three little girls grow up.

 

Visit: http://www.profitshareforowners.com

 

MEDIA INQUIRIES CONTACT:

Arden Izzo arden@farrowpr.com 866-949-6868