It’s difficult to run a business profitably. It is even tougher to do that while at the same time attempting to help have a socially concious business model. Add a down economy into the mix and you just may believe that now is not the best time to think about a career being a social entrepreneur.
Remember that in spite of a tough economy numerous for profit businesses began during a economic depression. So if you think you have what it takes this report gives you some guidance on what you should remember when you start your social enterprise.
Exactly what is a social enterprise?
Corporations that have a part of their DNA the need to try to to good along with make money can be regarded as a social enterprise. Firms that want to develop low cost stoves to villagers for cooking is considered a social enterprise. Exxon Mobile donating money to the community isn’t. The difference is that the social benefits are not their central objective.
Do you have what it takes?
Not everyone can be a social entrepreneur. David Bornstein’s book How to Change the World distills the qualities one must posess in order to be an effective social entrepreneur. They are:
1 – Determination to recognize problems and correct your approach
2 – Determination to share reward with other people
3 – Willingness to work outside of established structures
4 – Willingness to cross disciplinary boundaries
5 – Willingness to work quietly
6 – Strong Ethical Impetus
Find the right people
Social Enterprises commonly pay not as much as other types of companies. Just because that may be the case it doesn’t mean you need to be satisfied with less talent.
Understand where your talents are and then seek out like minded people who share your vision.
You ought to turn to the technology startup community as a model for the kinds of individuals you need to employ.
These entrepreneurs share much in common with those building social enterprises. Chiefly that they look at problems as challenges and will step out of conventional ways of thinking to solve an issue.
Tech entrepreneurs be capable of do much more with less. They’re a great resource for human capital for your business.
Don’t Be Concerned About Making Money
Just because you’re operating a company that’s attempting to help others doesn’t mean you can’t make a profit. There are a number of examples of for-profit companies that are also doing social good. A few examples of these companies include:
Academic Earth – an angel backed website that aims to grow access to high quality education at no cost on the web and eventually make the for-profit business maintainable through ad sales and affiliate marketing.
Better World Books – a web-based book seller that sells donated books to provide to charity.
BigBelly Solar – a company which makes solar powered trash compactors.
Finding a venture capitalist to invest isn’t your only choice
Often, outside funds ought to be plan B. Once more examine technology entrepreneurs as thought leaders. Develop a business model that permits you to bootstrap yourself then, after you have a product you can seek funds at a higher value.
I’ve just offered you some food for thought as you consider whether or not to be a social entrepreneur. The economic climate is right for you to begin. If you have a great idea and vision to make it happen then you owe it to yourself to try.
Ken Herbert has a passion for helping people. Ken writes about social enterprise, sustainable businesses and companies that like to do social good. Article Source: http://EzineArticles.com/?expert=Ken_Herbert Article Source: http://EzineArticles.com/6445703
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