7 Steps for Starting a Social Enterprise
Have you identified a problem in your community which you can solve using an effective business solution?
Do you have stirrings inside of you that continually push you to start a social enterprise?
Then, read, eat and sleep the seven tips laid out by Devon Ysaguirre on Forbes.
These seven tips are very good pointers towards helping you start your Social Enterprise.
Tell us how it goes.
One of the most classic quotes of all time is that of Mahatma Gandhi which states that “You must be the change you wish to see in the world”. There is no better time than now to fully utilize the wisdom in these words.
Viable social enterprises are springing up in different parts of the world and the field is increasingly attracting traditional funders and individual investors. In addition, a special “impact investing” movement has gained popularity, while traditional companies are consistently showcasing their Corporate Social Responsibility (CSR) and sustainability efforts in order to remain in the good books of the citizens.
As an individual, you can contribute your quota to driving this change and making the world a better place in any of the ways listed below:
- Starting up or partnering to build an innovative social venture within your means.
- Choosing to build your career with a company that impacts the society and environment, in addition to giving you a rewarding career.
- Supporting the work of social enterprises by using and recommending their products (when they are of high quality and truly meet a need).
- Volunteering with social enterprises in areas where you can contribute your expertise.
I have looked across Nigeria/Africa and spotted some businesses that are operating the social enterprise model without really knowing it.
One definition of social enterprise which i fully subscribe to is: “An organization or venture that achieves its primary social or environmental mission using business methods. Social enterprises harness the power of the marketplace to solve critical social and environmental problems.”
So, I urge you to take another look at your business model and confirm if you are operating a social enterprise or not. We can help you with a few metrics to determine this. This is very important as it might help you target specific funders for your venture. I am more than willing to help you clarify and point you in the direction of potential funders if you are running a social enterprise.