Let me start out by making a case for why you should want to be a social entrepreneur, in case you are not familiar with with term.
A social entrepreneur is someone that chooses to build a business or nonprofit around a social challenge that they are passionate about by using business profits to bring about positive change. Examples could include someone that feeds the local homeless population or at risk youth from their restaurant at the end of the day instead of throwing away the food or selling metal waterbottles to reduce plastic waste in landfills.
But, just because you are passionate about something doesn't mean that you have the business acumen to fulfill your idea. If you don't know how to start or run a business then please consider finding a mentor or employees that have experience in the industry that you are trying to break into. I speak from experience on that one because I have been there.
Tip #1:
Self-reflection is key. If you find in your heart that you want to pursue a different path in business and create a socially-driven enterprise, choosing a good cause to support that you are passionate about will be key so that you don't end up getting burned out or resenting the work that you are choosing to do. Because success is rarely a straight path, right?
Tip #2:
Understand the scope of the social challenge that you are working on.
How many people are homeless in LA if you want to work towards helping them all get off the street?
How many people in third world countries don't have access to clean drinking water on a consistent basis?
How many plastic water bottles end up in landfills each year around the world?
Really get to know the issue that you want to pursue and then become laser focused on it, don't let anything stand in your way from accomplishing the goal if that is what you want.
Look for the most reliable sources of information without putting any bias into it or making any assumptions. You want to work with the best information available so that you can get the best results!
Tip #3:
Focus the scope of work. If we are to take on a challenge, it is important to limit our scope of work to prevent biting off more than we can chew. How can you know when you have finally solved the issue if you haven't set metrics for yourself that guide you to achieving that goal?
We all want to take on the world and save everyone (at least if you are a social entrepreneur anyway) but we will drive ourselves crazy if we don't set a limit to how much we are helping. It took me many years to realize this truth and I only just starting set limits for myself recently.
Tip #4:
Do it for all the right reasons, instead of the wrong ones. A friend of mine had started a business to teach at risk youth self-defense lessons to help avoid bullying at school and to help the children establish confidence in themselves. This is a GREAT cause and she did a great job of promoting her idea so she got launched very quickly.
It was overwhelming for her at first and then she focused only on how to attract more limelight... to herself, not to the organization. Eventually, the business failed because she had become a little bit of a zilla and no one really showed up anymore to the karate studio she had started.
After much contemplation, she realized that she had started the business with the best intentions but quickly let the attention get the better of her. She let it go to her head instead of focusing on the kids that she had set out to help.
Now, she has gotten the studio started all over again but has a press manager that handles the publicity for her so that she can focus on the work. It has worked out so much better.
Tip #5:
Build your brand. Someone may already be working on the social challenge that you are but may be approaching it from a different angle. We don't have to have exclusive rights to whatever we choose to work on. We only have to focus on our purpose and build the brand.
When someone thinks of a product or service that they need or want that your company offers, you want them to think of you because you have built a brand that is public and that people love.
Tip #6:
Remember that this is a business. Whatever you do, treat this like a business.
Set business hours.
Be professional.
Make connections with others in your niche.
Keep your financial books up to date.
If you treat your organization like a hobby, then others will too. And you may not be as successful in your venture if people don't think you are serious. You want people to take you seriously.
Tip #7:
Surround yourself with people that are smarter than you. I try to never be the smartest person in the room and I try to not take on the entire world. It can difficult to let someone else help you with your baby, a project that you are passionate about and have worked hard to build up. But, it's necessary to ask for help if you want to grow the business and to expand beyond your comfort zone.
Tip #8:
Be transparent and authentic in your message. The whole premise behind building a socially conscious business is to provide transparency and educate your customers about the social challenge that you are working to solve. And being authentic in your message helps your brand be more relatable. When you are relatable, you can likely draw in more loyal customers long term or get people buzzing about your brand.
Word of mouth advertising is the best sort of advertising and it's free!
I would love to know your opinion on building a social venture for your business! Would you add anything to this list?
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Thanks for reading!
