HOW TO START A SOCIAL ENTERPRISE
by: xavier bautista
According to Forbes.com, these are the 7 steps for starting a social enterprise.
1) Articulate a problem and a solution
As an entrepreneur, you need to convince people to trust you—to fund you, to invest their time, to leave better paying jobs to support your cause. “You need to clearly articulate a problem and the solution,” It’s easier to engage supporters when you make it clear how your organization is part of that solution.
2) Surround yourself with experts in your field
Have the support of experienced people who believe in your mission, and help generate more attention and funding.
3) Hire staff that’s flexible and entrepreneurial
If you’re running a start-up organization, you need to run with people who think entrepreneurially. Hiring the right early-stage employees always pays off.
4) Shake a hand, raise a dollar
Make connections which open doors to other enthusiasts who will begin to fundraise for you, expanding your network of donors. Find people with an urge to make an impact, and then show them how, with their monetary donations, your solution could change the world.
5) Make noise in the media
Media attention from widely-distributed and respected media outlets is incredibly helpful for a social enterprise. Make headlines by cultivating contacts, pitching story ideas, and drawing on media connections.
6) Choose your board wisely
Many founders seek experts in their field for their board. This is important, but don’t be afraid to seek different perspectives, which can help your organization diversify its network.
7) Be able to measure your impact
Having measurable and quantifiable indicators has helped you retain and grow your investment pool.