Social enterprises need to be measuring for results and they need to be measuring results right from the very beginning. This is the first key step to business management. As a social entrepreneur I would argue that measuring the key indicators, the key factors of your enterprise is highly significant.
It is essential really.
Social Enterprises Must Measure
Just like any ordinary business which usually measures for things in marketing, in accounting, in profit, social enterprises also must measure.
Of course for social enterprises the measurements will be quite different and it’s interesting that some would argue that social indicators are quite difficult to measure and so some would forego it, and some would argue that you cannot do it at all.
4 Ways the Social Enterprises Can Measure for Results
Nevertheless, for social enterprises, to be effective and to prove to the outside world that changes are happening through your enterprise, you do need to measure for results.
- Measuring for results in your social enterprise can start with your own financial sustainability through your profit.
- As well as environmental indicators measuring the waste that your enterprise produces and finding ways to minimize that.
- It could also involve measuring the impacts that it is having in the community. Measuring specifically, for example to what extent or how many people your enterprise has helped.
- It can also mean to what extent your enterprise is helping the people within your organization.
Measuring Results for Social Impact
I encourage you to measure your results through careful business management– even while you are beginning. To measure helps you achieve results. The more you measure it the more you can change your organization to gain the social impact you are aiming for.