High Impact Philanthropy: Sid Lakhani Of the Pura Veda Foundation On How To Leave A Lasting Legacy With A Successful & Effective Nonprofit Organization
An Interview with Karen Mangia
The roadmap to creating a successful & effective nonprofit begins with defining the organization’s mission and values. A strong sense of purpose will guide decision-making and inspire stakeholders to support the cause. Everyone involved must embrace a service leadership approach, where leaders prioritize the well-being of others and sustain a culture of empathy and accountability. It’s also critical to forge strategic partnerships with like-minded organizations to amplify the impact and reach of the nonprofit’s initiatives, remain open to innovation and new ideas, and establish clear metrics and goals to measure the organization’s progress.
For someone who wants to set aside money to establish a Philanthropic Foundation or Fund, what does it take to make sure your resources are being impactful and truly effective? In this interview series, called “How To Create Philanthropy That Leaves a Lasting Legacy” we are visiting with founders and leaders of Philanthropic Foundations, Charitable Organizations, and Non-Profit Organizations, to talk about the steps they took to create sustainable success.
As a part of this series, I had the pleasure of interviewing Sid Lakhani.
Sid Lakhani is a business leader who recently sold his family-owned company “Healing Hands Scrubs” to one of the world’s largest medical apparel manufacturers and is now pivoting his focus toward philanthropy. He’s launched the Pura Veda Foundation, a non-profit organization dedicated to uplifting the lives of young people — especially girls and women — who live in underserved communities and lack pathways to success. Sidlakhani.com
Thank you for making time to visit with us about a ‘top of mind’ topic. Our readers would like to get to know you a bit better. Can you please tell us about one or two life experiences that most shaped who you are today?
My journey to becoming a successful business leader and philanthropist began as an entrepreneur in middle school. I did not know at the time that this path would eventually lead me to taking my family’s New York City garment company to unseen heights and selling it to one of the world’s largest medical apparel manufacturers, but starting from a young age, I engaged in various ventures that continuously drove me forward, from selling candy to designer handbags, to co-founding a music streaming start-up, opening a fast-food franchise, and serving as an executive at a real estate company. These opportunities gave me invaluable insights into the high-stakes world of business and taught me the importance of taking calculated risks, learning from failures, and persisting through challenges.
The ten years I spent as CEO of Healing Hands Scrubs, however, was the most formative experience in shaping who I am today. Immersing myself in every aspect of the business, from sales and design to finance and operations, allowed me to develop a deep understanding of leadership and the importance of building a purpose-driven team. Over the course of a decade, we drove explosive growth and achieved outsized results, but most importantly I discovered that true success goes beyond material wealth and should also encompass making a positive impact on the lives of others.
You are a successful leader. Which three character traits do you think were most instrumental to your success? We would love to hear a few stories or examples.
As a leader, I provide strategic vision, build and motivate teams to execute, and generate profitability through top-line growth and efficiencies. I forge deep relationships with my associates, creating connection and a sense of shared purpose that is rare in corporate settings. Our goal is to achieve abundance, thereby enabling us to help our own community as well as the world at large.
The character traits most pivotal to the success of any executive or philanthropist, in my opinion, are service leadership, empathy, and fearlessness. I’m fortunate that my father has continuously been a strong mentor to me throughout my life, and he instilled in me the importance of leading by serving others and by putting their well-being alongside of personal gains. It’s critical to appreciate the needs and aspirations of your peers and the communities you serve. This approach has allowed me to build strong relationships with my team, shareholders, suppliers and customers, fostering immense and lasting loyalty. People are highly motivated, aligned, and engaged when working for a company or organization with a clearly defined purpose and empathetic leader, and having their support will allow you to constantly seek new opportunities and push the boundaries of what’s possible.
What’s the most interesting discovery you’ve made since you started leading your organization?
As a businessman, I am always looking to generate profit. But I define that profit in both financial and human terms, and somewhere along the way I began asking myself, “what is our team doing to help others?” That’s when I decided to launch the Pura Veda Foundation, a non-profit organization dedicated to uplifting the lives of young people — especially girls and women — who have been marginalized and live in poverty. Our efforts have not only transformed individual lives but also had a cascading effect on entire communities. Witnessing the ripple effects of positive change, where empowered individuals go on to inspire others and positively impact their lives, has been truly heartening.
Can you please tell our readers more about how you or your organization intends to make a significant social impact?
At the Pura Veda Foundation, we continuously strive to make the world a better place by helping people in need and creating pathways for their success. We support Children’s Hope India, which lifts children from poverty to prosperity through education, nutrition, medical care, and career building; Homes of Hope India, which builds orphanages for girls who live on the streets or in slums; as well as Trickle Up, which helps women in extreme poverty set up and sustain profitable small businesses; and TAARA (Trafficking, Awareness, Advocacy, & Rehabilitation Advancement), which sponsors sex-trafficking survivors to rebuild their lives through education and vocational training.
What makes you feel passionate about this cause more than any other?
My mission to connect profit with purpose and solve global humanitarian challenges is deeply personal, and I am actively looking to increase our impact by engaging with more like-minded companies and nonprofits. It stems from my own journey of learning the ropes in business and discovering that true happiness lies in making a positive impact in people’s lives. Witnessing the transformation and empowerment of these individuals and communities brings a profound sense of fulfillment that goes beyond any material success.
Without naming names, could you share a story about an individual who benefitted from your initiatives?
The Pura Veda Foundation has made tremendous impacts on the lives of individuals through providing access to shelter, education, cellphones, computers, jobs and opportunities. With the organization’s support, young and vulnerable women have gained safe environments and new skills, which allows them to break free from predators and the vicious cycle of poverty. Some of the women we’ve helped have gone on to launch successful small businesses, employing other members of their community and giving back by mentoring other young girls. They’re earning sustainable incomes, able to feed their families, and saving for future goals. Plus, they have a greater decision-making voice in their households and communities. Their stories exemplify the transformative power of education, inspiration, and change.
We all want to help and to live a life of purpose. What are three actions anyone could take to help address the root cause of the problem you’re trying to solve?
It’s important that business leaders create purpose-driven corporate cultures and strive to do more than generate profits. This is essential to establishing a truly transformational and engaging place of business that inspires camaraderie at a high level and delivers heroic results, as opposed to being merely transactional. Companies can be extraordinarily successful when they motivate, align, and engage their teams in a shared mission, and those who are interested in building more inclusive cultures and solving global humanitarian challenges can join and collaborate with me.
Please reach out by contacting me through my website https://sidlakhani.com/ or consider contributing to any of the charitable causes that the Pura Veda Foundation supports: Children’s Hope India, Homes of Hope India, Trickle Up and TAARA.
Based on your experience, what are the “5 Things You Need To Create A Successful & Effective Nonprofit That Leaves A Lasting Legacy?”
The roadmap to creating a successful & effective nonprofit begins with defining the organization’s mission and values. A strong sense of purpose will guide decision-making and inspire stakeholders to support the cause. Everyone involved must embrace a service leadership approach, where leaders prioritize the well-being of others and sustain a culture of empathy and accountability. It’s also critical to forge strategic partnerships with like-minded organizations to amplify the impact and reach of the nonprofit’s initiatives, remain open to innovation and new ideas, and establish clear metrics and goals to measure the organization’s progress.
How has the pandemic changed your definition of success?
The pandemic truly brought to light the lifesaving efforts and sacrifices of the frontline heroes — particularly the nurses who kept us healthy and safe — and virtually all of the dedicated medical professionals who wear uniforms made by Healing Hands Scrubs. In recognition of their role in the fight against COVID-19, When the pandemic hit in March 2020, we donated millions of dollars of scrubs and PPE to frontline workers and organizations throughout America. We also partnered with the American Nurses Association and the American Association of Colleges of Nurses. These benevolent foundations provide a platform for our outreach to assist and aid the millions of healthcare professionals. The American Nurses Foundation is the philanthropic arm of the American Nurses Association (ANA). As highlighted by the events of the pandemic, caring for those who care for us and supporting causes close to our hearts is truly the definition of success.
How do you get inspired after an inevitable setback?
When facing challenges and inevitable setbacks, I’m often inspired by the wise words of spiritual teacher Swami Parthasarathy, who said “Your motto in life should be to strive, to struggle, not to succeed. Work well accomplished is the joy of life. Success or failure is immaterial.”
We are very blessed that very prominent leaders read this column. Is there a person in the world who you would like to talk to, to share the idea behind your non-profit? He, she, or they might just see this, especially if we tag them. 🙂
I hope to build on the positive impacts and achievements of selfless leaders like Patagonia Founder Yvon Chouinard, and Blake Mycoskie, the founder of TOMS Shoes. Yvon built a tremendously successful company and has used his considerable platform to advocate for pressing environmental issues, and Blake pioneered the “One for One” business model, where for every pair of shoes sold, a pair is donated to a child in need. I would be thrilled at the opportunity to get to know and learn from both of these extraordinary leaders.
You’re doing important work. How can our readers follow your progress online?
Supporters interested in following my work can visit the website https://sidlakhani.com/ or connect with me on LinkedIn https://www.linkedin.com/in/sidlakhani/
Thank you for sharing your insights and predictions. We appreciate the gift of your time and wish you continued success and wellness.
About The Interviewer: Karen Mangia is one of the most sought-after keynote speakers in the world, sharing her thought leadership with over 10,000 organizations during the course of her career. As Vice President of Customer and Market Insights at Salesforce, she helps individuals and organizations define, design and deliver the future. Discover her proven strategies to access your own success in her fourth book Success from Anywhere and by connecting with her on LinkedIn and Twitter.
High Impact Philanthropy: Sid Lakhani Of the Pura Veda Foundation On How To Leave A Lasting Legacy… was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.