The business of charity

CEO of LaserMonks gives local business group lessons in combining good works with commercial savvy. How do you compete with a business that guarantees the lowest prices, can trace its history back 1,500 years and offers “spiritual rebates”?

That’s the competitive edge of LaserMonks.com. The company, led by Chief Executive Father Bernard McCoy, has experienced exponential growth in the office supplies business.

But make no mistake, McCoy’s prime role in life is that of a monk. Five hours of every day is spent in prayer and chant, and another one or two in private study.

Unlike most CEOs, McCoy is not above monastery duties that include shoveling manure and cleaning toilets.

Speaking to a room of 25 members of the Coastal Business Exchange at the Jolly Roger restaurant in Laguna Beach, Father McCoy gave away the secrets of his success.

In the world of e-commerce, where seeking the lowest prices becomes a transparent affair, the issue of trust between a buyer and seller is essential.

“Our selling point is who we are,” McCoy said. “All profits go toward serving charities.”

With a reputation for being trustworthy and maintaining excellence in quality, McCoy believes running a business staffed by monks gives a clear competitive edge.

In the earlier stages of the company’s five-year existence, McCoy said he would come across people who questioned whether he was a real monk.

“They thought we might be a scheme,” McCoy said.

At a technology conference in San Francisco, McCoy claims he was asked by an executive what kind of car he drove.

“They want to know if there’s a Ferrari in the barn,” McCoy said.

Though gross sales in 2004 were reported to be $2.8 million, and with growth at least doubling every year, McCoy said success has not affected his lifestyle.

“I drive a 1998 Jeep with 170,000 miles on it,” he said.

Profits from the business go to McCoy’s Cistercian Abbey in Sparta, Wisc., to sponsor programs such as encouraging art and establishing a camp for kids with HIV.

After enrolling at Georgia Tech at the age of 16 for a degree in astrophysics, McCoy moved on to attend Thomas Aquinas College in Santa Paula, Calif., where he decided to become a monk.

“I asked myself how can I best use my gifts, and it was to be a monk,” McCoy said.

With concert-level ability on the French horn and violin, McCoy says he is also an aviator and scuba diver.

With no formal education in business, McCoy claims his work is just common sense.

The idea to sell office supplies came after he became deeply involved in a project to build a golf course intended to raise money to help his monastery.

In the middle of planning and negotiations with financiers, McCoy’s printer ran out of ink, and he was amazed by how much it cost to replace it.

“This is way too expensive for a bunch of black dust,” McCoy said.

After researching the business of ink cartridges and talking to manufacturers, distributors and suppliers, McCoy designed his business and has been running with it ever since.

Going forward, McCoy sees his company selling multiple types of products.

“We could be the Amazon.com of social entrepreneurs,” McCoy said. 20060210iuft58ncDON LEACH / COASTLINE PILOT(LA)Father Bernard McCoy, CEO of LaserMonks, prepares to address the Coastal Business Exchange at the Jolly Roger.