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Do you have ideas? Do you want to run a business? Do you want it to be profitable but, at the same time, have the least possible impact on society and the environment? Although you may not yet know it, social entrepreneurship is one of the new ways of running a business. In this post we explain what it is and give you the right advice to ensure that you embark on the adventure without any risk.
In this “age of people”, society is demanding a new business model, the social enterprise. Social entrepreneurship is the kind that seeks not only economic, but also environmental and social interests. This form of entrepreneurship therefore aims to strike a balance between these three goals.
Although we’re talking about a social enterprise, this business model doesn’t neglect the basic aim of seeking economic profitability. We’re therefore going to list five keys to successful entrepreneurship:
1- Define your business model properly
- Classical company: The sole objective is to generate as much profit as possible and distribute the dividends among the shareholders.
- Social enterprise: This model seeks to achieve the greatest impact on society and the environment. The profits will be for the common good.
- Hybrid organisation: This merges the activities of the two ones above. On the one hand, the goal is to maximise the profits, but, on the other, it pursues social, environmental and even charitable goals.
2- Make the perfect pitch
In advertising, a pitch is a presentation of the product or a campaign launch. This technique requires a clear, brief and concise exposition of the company’s product and its benefits. The pitch should last a maximum of two minutes and always answer the following questions:
- What do you do and what problems do you solve?
- Why choose your project?
- How are you going to make your call for action?
3- Manage your company
When it comes to running your company, you have to choose the entrepreneurial methodology that will lead you to success. We recommend Lean StartUp, a method that will boost your creativity. This product or service validation model based on rapid experiments is widely used in social entrepreneurship. To implement it, you have to:
- Listen to the market
- Build a Canva Business Model
- Compile the customers’ feedback
- Create a prototype
- Contact as many users as possible
- Analyse the data and learn from them
4- Social media are your allies
You have to make the most of all the technological tools at your disposal. In this case, social media are always good travelling companions. Facebook, LinkedIn, Instagram and Twitter are ideal for creating value, learning, sharing and standing out from your competitors in the online environment. Some tips when you use them:
- Use them responsibly.
- Choose the trends that are best suited to you.
- Be clear about your goals and target your audience via the right social network.
- Invest in the media that add the most value.
- Create a community on the network.
5- Apply the new technologies
Do you want to become an exponential organisation (ExO)? This is a company capable of growing ten times faster than its competitors by means of constant updates and the permanent use of the new technologies. Follow these three steps to become a successful entrepreneur and turn your business into an ExO:
- Have a social focus and an ambitious purpose: to transform the world.
- Connect talent, resources, community and systems.
- Streamline and automate your process management.
These five simple steps will help you on your climb to the top of the corporate ladder. However, if you want to learn more about entrepreneurship , sign up for the free course on Social Entrepreneurship run by Conecta Empleo. You’ll find out more about the ways of funding your initiative, presenting it publicly, seeking support and creating your team to undertake your project.
Learn more about the exciting world of social entrepreneurship!