Social Enterprise Marketing Strategy
A social enterprise faces a challenge when it comes to marketing. As a social entrepreneur is seeking to meet a demand or need in the market that is currently unmet, the availability of data is scarce. Unlike a for profit organization, a social enterprise is often entering a hybrid market that is un-established and cannot […]
Social Enterprise Performance Measures
Measuring the performance of a social enterprise is likely to be one of the biggest challenges an entrepreneur will face. Unlike a non-profit who can measure their performance based on their fulfillment of their mission, or a for profit who can measure their performance based on their profits, a social enterprise must seek to measure […]
Stages of Social Enterprise Capital
Survival or Establishment Stage: Once initial seed capital is drying up and no profit has yet been earned, the challenge for a social enterprise will be to expand the customer base and increase the market penetration while preserving capital. In order to increase access to more equity capital, social enterprises in an establishment stage can […]
Social Enterprise: Sourcing Initial Investments
Seeking initial investment for your social enterprise places you in the “seed stage” of financing your company. At this point, you must seek equity capital from sources that can afford to lose it all. The best sources for funding are friends, family, and your own pocket. It is a waste of your time to look […]
Writing a Social Enterprise Business Plan
Writing a business plan serves two main purposes: providing the guide for your business internally and communicating the value of your business externally. The more detail and thought that is put into the business plan, the more it will help your business navigate the start up and expansion stages. Consequently, the more your business plan […]
Registering Your Social Enterprise
Once you have decided on the proper entity type for your social enterprise, the next thing you need to do is file the proper paperwork with the proper authorities to begin the process. The best place to start is your state’s Secretary of State office. You can find their contact information here. Register Your Name (State): […]
Social Enterprise: Choice of Legal Entity
As of yet, a social enterprise is not its own legal structure, and a social enterprise company must consider its legal structure options and select the one most congruent with the company’s plan. Below we explain the options available: Non-Profit: A non-profit is the most common legal entity chosen by social enterprises. However, a non-profit […]
Developing Your Social Enterprise Team
As a social enterprise prioritizes its mission to its people, a crucial step in forming a social enterprise is defining and developing your team of players. Rather than emphasize shareholders, as with a for profit, a social enterprise considers all stakeholders who share a “stake” in the outcome of the enterprise. The group of stakeholders […]
Defining Your Business Model: Social Enterprise
Now that you have a clearly defined mission and a set of guiding principles, it is time to start asking the business questions. How will your business work? How will it manage the tension between mission and margin? Let’s start with the margin: What is your product or service? Who is your target market? How will […]
Social Enterprise: Defining Your Mission
A key part of a company’s business plan is the mission statement. In particular for non-profits and social enterprises, the mission statement serves as a constant reminder of the social aim the organization is dedicated to. Writing a strong mission and corresponding guiding principles is a key planning step to keep your social enterprise on […]
