Social Entrepreneurship donate. Their goals transcend business. They enjoy contributing.
TOMS’ Blake Mycoskie and Yoobi’s Ido Leffler donate a product to a needy individual for every transaction. Christopher Grey, co-founder of Scholly, helps low-income kids get scholarships.
These innovators show that social entrepreneurs require more than a good business plan. C.J. Hayden, a San Francisco social entrepreneurship coach and founding board member of the San Francisco Bay Area Chapter of the Social Enterprise Alliance, advises a step-by-step plan and determination.
“If you feel called to make more of a difference in the world and want to make a living doing it, you’ll need a clear roadmap for your journey,” social enterprise developer Hayden stated in an interview. “From inspiration to launch, your business needs specific directions.”
Hayden offers these 8 steps to become a world-changing social entrepreneur:
Be clear on your goal.
Choose who, where, and how to help. Be precise about how your business supports this group.
Assess your talents, training, and resources. Consider simple queries like ‘What will I do?’ How will I do? “Who am I doing it for?” & “What value will I provide?” Mission statements contain these answers.”
Study the field.
Discover the world-changing players and social business ecosystem you wish to work in. Remake not needed. Inspired by a social entrepreneur doing what you want, create your own purpose-driven offering.
Google may detect rivals and coworkers. What would customers look for online to access your business? What keywords would they search?
Find your ideal consumer or recipient online.
Look for social entrepreneurship trade associations. Start with Social Enterprise Alliance, 16 U.S. branches. Discover this group’s social efforts.
Identify future product trade alliances. National Office Products Alliance donates office supplies one-for-one. Attend meetings and conferences to learn what they teach. You can assess the field you want to enter.”
Give something unique.
Stand out from competitors? Your social corporation will be more unique if you know your goals and how to attain them, preferably in new ways.
Each Post-It note should state your social enterprise’s goals. Display and mix notes on walls or windows.
Over several days or weeks, change your sticky notes to reflect your goals, who you want to help, and how you can do it uniquely in your social niche.
If you can’t differ from competitors, collaborate to add value.
Contact the staff for help.
The term “team member” does not necessarily denote business partner or employee. This person will passionately support your mission-driven venture. Someone who helps.
Ask experienced mentors and experts for life and professional advice. While investigating the field, you may have met competitors, partners, or trade association members. Like-minded people may seek or make a change.
Teams cooperate and seek advice.
Your peers can help you achieve by sharing networks and resources.
Test your mission statement with fans and mentors. This requires thick skin because some are cruel. Remember that your teammates want you to succeed.”
Model a busines
Companies make money via business models. Consider your product/service reach. Will you enjoy serving local customers alone? Expand and hire to make a bigger impact?
Determine and record how much money this social enterprise needs to accomplish your aim, pay for itself, pay you and your staff, and maybe grow.
What business idea will make you money?
Will one group buy your products and then another, or will your business’s beneficiaries pay? The TOMS one-for-one model Consumers buying shoes for the underprivileged is a classic social business idea.
Microlending social entrepreneurs sell goods and services to beneficiaries. These business models increasingly involve microfinance loans with interest. Their interest pays debts, makes money, and funds loans.
Try a local social entrepreneurship pitch competition to improve your business idea after adopting a social enterprise model.
Get money early
Look for seed funding here. Where and what startup capital do you need?
Can you afford corporate or self-financing? Will you borrow from family, friends, angels, or VCs?
How about crowdfunding your social venture on Indiegogo as Lisa Curtis did for her worldwide poverty-fighting superfood company Kuli Kuli, Inc.? If your social venture has early success and a huge mailing list or e-newsletter subscriber base, crowdfund. Without a significant target audience or social following, crowdfunding may not work.
Impact investment groups of purpose-driven firms help social enterprises. The Social Venture Network helps discover emerging-market investors.
Make sure your investors care about your social objective, not just profit.
Prepare and execute.
Unlike a company strategy, an action plan contains dates and tasks. Your social venture’s debut date and travel time will be calculated backwards.
Master to-dos, timetables, and calendars are action plans. Include yearly, monthly, weekly, daily, and hourly entrepreneurial goals.
Staying on track requires an action plan, especially when starting from fresh with no outside obligations. This allows you realize your world-changing goals.”
