Keys To A Successful Social Entrepreneurship

What does it take to become a successful Social Entrepreneur?

Take On the World’s Biggest Problems

Social entrepreneurs identify major social problems and so, as such, need to find creative solutions and generate new ideas. The bigger the problem, the more motivated they become. Social entrepreneurship becomes necessary when objectors find that appropriate governmental, private-sector, or nonprofit organisations for solving the problem don’t exist or are inadequate for the job.

Develop a clear and concise Business Plan

A Business Plan is a tool to help you make informed decisions about your social enterprise, its development, its performance and its future. A Business Plan will include Marketing, Operational and Finance Plans.  The best way to do this is to use a business plan template as a guide.

Become more self-sustainable

The aim of a Social Entrepreneurship is to become more self-sustainable and not to solely rely on grants and investors.

Create Innovative and Scalable Entrepreneurial Solutions

Innovation provides the best solutions to global problems. The business strategy, created to proliferate these solutions into society, must be easily duplicated and scalable for fast growth in order to achieve global impact as quickly as possible.

Tap into the Passion that the Public Feels for Your Cause

Connecting a powerful idea to a cause that the world can get passionate about, can create an army of world-changers motivated to conquer what appear to be unsolvable problems.

Ashoka, known for its work in identifying and fostering social entrepreneurs, has an entire program dedicated to helping organisations working on social change, achieve sustainability through a broad engagement of their communities beyond the usual seeking of grants and traditional fundraising. Ashoka’s program is called the Citizen Base Initiative and its method involves creating a wide and strong base of support.

Combine entrepreneurial practices with social practices to deliver change

The traditional business model pays wages for work done. I call this the head part. People need to earn an income but there may be no purpose or passion connected with the activity. It’s simply a way to pay the bills. There is no heart involved.

The traditional not-for-profit organisations are generally strong on passion, but typically don’t have the budgets to pay their employees market wages, and must rely heavily on volunteers to achieve their goals. They have a lot of heart but they are not financially sustainable.
Social entrepreneurial organisations create a hybrid blend of the best of these two models. This is a match made in heaven.


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