Hey everybody, it’s Matt Alberto here and today’s going to be a short one … I just wanted to talk about the entrepreneurial trend towards social entrepreneurship. I’m seeing more and more how mainstream entrepreneurs are talking about social entrepreneurship and getting into the idea; more specifically, the idea that entrepreneurship is moving from Titans to Innovators and now to the idea of Saviors. What does this all mean and where’d they get this kind of idea from? I was listening to This Week in Startups; it’s a video podcast, a really cool one that I often listen to. Often they talk about tech entrepreneurship and they get some really high-end top investors and entrepreneurs around Silicon Valley, who are really movers and shakers in the industry, to have a chat and to share with other entrepreneurs how they did it and to inspire others.
Social Entrepreneurs: An Emerging Trend?
Usually they’ve been in the tech space but more recently, I’ve been seeing that a number of them are moving towards the social entrepreneurship space. A recent talk was with the Mogl cofounder … Mogl founder sorry, Jon Carder. Mogl is this app which helps fight hunger with hunger. It’s an app that restaurants can integrate in a point of sale system. They can use it for their credit card or debit card charging, and 10% of the bill goes to a local food bank and helps fight hunger in the local area. It was inspired actually by Tom’s Shoes one for one business model. But instead of the Tom’s Shoes one for one in terms of shoes, Mogl works with the idea of one for one in a sense of hunger, where you have your meal and you’re actually also helping others in the local area get a meal as well and to fight hunger for them.
The interesting thing was, in his talk, he was interviewed and he shared his story. He gave his insight about the idea that there really is a trend for entrepreneurs to get into social entrepreneurship. He himself, Jon was a successful entrepreneur. He’d already been involved in other ventures, more just in a tech space such as MojoPages among others. He got started in Mogl because after succeeding in tech space and in his other ventures, he wanted to actually do something positive in the world by creating a new venture, that not only made money but made a difference.
What got him influenced was, he was actually sitting in a talk which was being conducted by the founder of Tom’s Shoes, Blake Mycoskie, and he just got inspired with that one for one business model, and thought that he could do a similar thing in the restaurant and food industry. Apart from that, he talked about that trend that really entrepreneurship is moving towards, social entrepreneurship, and not only making money but also doing good. Historically he goes back into the idea that in the past, 50-100 years ago entrepreneurship was really dominated with the idea of Titans, that the philosophy and perspective of entrepreneurship was really about maximizing profits, hardcore capitalism. Top examples of entrepreneurs were people such as Andrew Carnegie who dominated the steel industry.
Entrepreneurs as Titans & Innovators
Entrepreneurs who were Titans in some of these commodity industries like oil, steel and gas, they were the ones who were at the forefront of entrepreneurship. Later on in 80s-90s, there was more of a trend with the concept of innovation and innovators as entrepreneurs, with examples of Steve Jobs and Steve Wozniak with Apple Computer, where they pushed the limit of entrepreneurship and showed that apart from just making money you could use ideas and design, and really great product as a means to change the world through innovation.
Entrepreneurs Today Yearning For Something Meaninful
The Mogl cofounder Jon Carder in his view says that nowadays in where we are right now, in the 2000s and now in the 20-teens, that there’s a entrepreneurial trend towards the idea of Saviors, where entrepreneurs can be a type of savior who can help others, who can actually create organizations to do good in the world, and that it’s not only about making money. The Gen Ys and the millennials of today are looking at business and entrepreneurship as being more than just making money; even more that just doing innovation but making money, creating innovation but also doing good and changing the world, so that there is a social benefit and that the community can receive an impact from the business that you create.
Contemporary Movement of Social Entrepreneurship
I think that was a really great insight that entrepreneurship is moving from Titans to Innovators and now the idea of Saviors and social entrepreneurship. I think it was really cool that it was being talked about in This Week in Startups. I totally agree with this perspective, and it was something that I hadn’t really thought about, but looking at the historical and philosophical movement of social entrepreneurship is really inspiring. I guess with that trend of the perspective of entrepreneurship, it just makes me wonder, where to from here? I guess for you as an entrepreneur or a social entrepreneur and wherever you are right now in your journey, I guess it makes you want to question as well, what kind of entrepreneur are you?
Do you want to be a kind of Titan that dominates an Innovator, that changes the world through innovation or in Jon Carder’s words, a Savior that does good but also does it by making sustainable and profitable businesses. That’s it from me for today. I’ll check you later. Bye-bye.