Social entrepreneurship is considered to be “the use of startup companies and other entrepreneurs to develop, fund and implement solutions to social, cultural, or environmental issues.”
Social entrepreneurs bring innovation and deliver change in various areas, such as the environment and society. They go beyond the traditional routes and they do that through an invention or a different application or approach of an existing technology or practice. Their priority is to create social value above all, the financial value comes second. Ultimately, entrepreneurs innovate by finding a new service, product or new approach as a solution to a social problem.
Social entrepreneurship is used as a term both as for non-profit organizations and organizations which blend for-profit goals with generating a positive “return to society”
Perhaps the most well known example of social entrepreneurship is the one of Tom’s shoes: the innovative use of the “ One for One” business model, in which for each purchase of a pair of shoes by a consumer, a gift of a free pair of shoes is given to a poor child in a developing country.
A social entrepreneur believes that everyone potentially can contribute to a social cause meaningfully and bring change to the world. He takes risks, he is persistent, optimistic, innovative and with high standards.
In order to become a social entrepreneur it is of great importance to take certain steps:
Find your purpose, your goal, and the change you want to bring to this world and determine how.
Create a unique, different offering which does not exist already. It is important for your offering to be something new.
Search for people and try to get support from them, who will understand your purpose, share their ideas with you and possibly give you relevant advice.
Develop your business model and search for initial funding sources, a loan or angel investors.
Sustainability Academy’s Online Diploma on Social Entrepreneurship will provide you with a step-by-step introduction to Social Entrepreneurship and Benefit Corporations as well as offer you unique knowledge in a simple and practical way. Let the change begin!