There are many paths which can be followed to achieve social entrepreneurship success, but research shows that most social entrepreneurs do share some common traits which help them to achieve their vision. For example, one of these qualities is a clear understanding of the issue they want to address and the ability to formulate a clear idea on how to solve it. It is also very important for the social entrepreneur to possess a high level of compassion for the issue they want to solve, and to be able to keep a sense of urgency as they attempt to realize their vision.
Passion and drive are certainly keys to success, but the social entrepreneur must also possess a talent for planning in order to conceive an efficient strategy for realizing their goals. Social entrepreneurs that are just starting out in the field can benefit greatly from hearing how others have succeeded at social entrepreneurship. Some events that are focused on the topic of social entrepreneurship feature talks by highly regarded practitioners who share their stories with participants.
For example, an invent in Chicago organized by Net Impact featured some top social entrepreneurs from around the world who shared their insights with attendees. They engaged in group discussions and shared their secrets for operating top notch social enterprises. One of the speakers, Rich Cohen, operates a specialty design and packaging company which creates sustainable packaging for a variety of brands. The packaging features strong branding for companies while being environmentally friendly, and the business has become sustainably profitable.
Funding is one of the key areas in social entrepreneurship where many new social entrepreneurs may encounter difficulties. In order to succeed in obtaining start up funding, it’s critical to build and maintain relationships with funders. Due diligence is key to the process, but the emotional appeal of your idea and the way you communicate it to funding organizations can make a huge difference in how your application is perceived. Most entrepreneurs are naturally protective of their ideas, but you should resist the urge to force non disclosure agreements on funders. This can be a major turn off, since they will start your relationship off on the basis of mistrust. Opening up about your ideas to your peers and to investors is a positive thing, and should be encouraged as a test of your character and confidence in the strength of your ideas. If you are still at the stage where you are looking for inspiration to develop a great social entrepreneurship idea, some online resources can be helpful in this regard.
Some guides are available which compile a variety of inspiring success stories from some of the most successful social entrepreneurs in the field. Learning from their examples, you will quickly discover ways to boost your business and expand the positive social impact of your mission. Some guides are available in an audio format, which makes them ideal for listening while you are working out at the gym, driving, or doing work around the house. One inspiring example of social enterprise success is the story of Tashka Yawanawa, who helped his tribe by starting a sustainable business that generated income for the community.
Get monthly Successful Social Entrepreneurship Report by Matthew Alberto in your inboxWant to Learn More About Social Entrepreneurship?
Learn from successful social entrepreneurs.
Click here to be a member of Matthew's Social Entrepreneurship Series now!