Why Start a Social Enterprise?
Published on: 26.07.2019
Limited resources, lack of skills/experience, and startup costs rank first in a long list of challenges that young aspiring entrepreneurs face when trying to start a business.
Even though startups are a synonym to innovative-highly-needed solutions and concepts, most of them fail (failure happens and it helps, learn how to cope with it).
A small percentage of startups manage to survive through the death valley while most don’t.
Why? Some dream way too big, others fail to anticipate obstacles or can’t address them properly.
If you succeed people will know your name, if you don’t you’ll become statistical data. That’s not that bad. You and other people will learn what not to do or how to do it differently.
Given that startups aim at providing solutions that aren’t widely available, the business process turns into a learn-as-you-go experience. Thus, don’t let yourself get scared when your ideas require you to navigate unchartered territory.
Or you can become a social entrepreneur…
To not end in a cul-de-sac situation, maybe you should consider social entrepreneurship. Like every startup, the social business will come with the boring essentials, bookkeeping, payroll and administration, taxes, finance, and legal issues. No matter how hideous these repetitive tasks can be, they’re not an excuse to give up. If you start a social business, you’re going to have a strong cause with an impact on society or the environment. Keep the eyes on that cause, because when you do well to the people and the planet, you do good business.
That translates to more support and funding and bigger chances for success.
Social impact = indicator for success.
Where to focus?
Anyone can have a good business idea. If you don’t have one, maybe you need to expose yourself to the news on your public broadcaster. Although the sun always shines on TV, you can compare what the media reports, what it doesn’t report with how things are. The news can help spark great ideas.
Make a list of frustrating problems that affect you and your community. Think how about solutions that would solve them without generating other problems.
Focus on the available resources and how to use them in a smart and environmentally-friendly way.
Focus on limited resources and how to use them sustainably.
Make impact your priority instead of profit, yet remember that you can change the world, but you have to make money to be a successful entrepreneur.
If you’re interested to learn more about entrepreneurship and gain the right mindset, take our free online training. If you want to try how demanding the entrepreneurial life can be, you are still in time to join our competitions.