The area of social business and social entrepreneurship (creating business ideas for good) is very much a new thing, and that’s what’s great about it!
Being new means it’s very much open to you, and your imagination, and what you want to come up with.
Start Up a Social Business with a 3BL Focus
Now, to give you a kick-start, let’s think of some techniques of how you can start creating a social business to move into social entrepreneurship.
To come up with business ideas, a traditional business would mainly think of profit maximization as they focus only on that single bottom-line.
Social enterprises, on the other hand, have a triple-bottom-line (3BL): People, Plant and Profit. In my point of view, that’s a great starting point to start your own business ideas.
Example: People, Planet, Profit for Computers
One way you could do it is to take a sheet of paper. Write down ‘People’, ‘Planet’, ‘Profit’ and come up with a single idea. To start with, start with something you’re passionate about. Let’s say you’re passionate about computers (that’s something that I’m quite passionate about – I love computers and technology).
Let’s say you enjoy computers. Start with how you could help people through computers. You could give a service and provide a profit through computer technology. You could sell computers and that could solve your area of ‘Profit.’
But in terms of ‘People’, how could you help them? Well, you could then decide: “I want to give a portion of my profit to ICT4D, which means Information and Communication Technologies For Development.” And you could also help donate some old computers to developing countries to help them with their computer literacy.
In addition, it would help the ‘Planet’ – the environment – because you would then be reusing old computers which would have gone to the landfills, and you would actually then ship them and donate them to developing countries where they could in fact use them.
Share Other Ways to Come Up with Social Business Ideas
What do you think? What other ways or techniques can social entrepreneurs use to come up with social business ideas?
Note: Please excuse the poor sound quality of the video. As I was living and working in Bangladesh at the time of this video, it was the rainy monsoon season. Therefore, the sounds in the background were the fierce winds and pouring rain. Thank you for your understanding.