In our current generation, we find that an entirely new type of business people emerging from the rank and file of what we know as the common blue-collar or white-collar worker. We call this individual a social entrepreneur. The role of social entrepreneurs in helping to make our world a better place is absolutely critical.
In this article, we are going to discuss what makes a person a social entrepreneur. Also, we are going to look at some of the problems that these people face on a daily basis as they pursue their trade. Last but not least, you will also discover how social entrepreneurs can truly help a business.
What Is a Social Entrepreneur?
The kind of person that we can deem a social entrepreneur is any individual who hopes to take a business, make it profitable and self-sustaining, and use that business to support some sort of social cause.
Probably the best example out there for a social entrepreneur is Blake Mycoskie. Mycoskie is the founder of Toms shoes, which many of us know and wear. Moreover, he has created a brand of shoes that sells millions of pairs of shoes every year. The company created a strong social support: donates one pair for free to a third-world citizen for every pair sold.
How to Hire Social Entrepreneurs and Implement the Ideology
Social entrepreneurs start with a simple idea: let’s help somebody. Naturally, most businesses are already created to help people by providing them with a good or service that they want or need. However, this concept means that the firm help people with a cost or price. To really help people or better society, social entrepreneurs figure out how to do these things for free.
Remember, these kinds of people (i.e. social entrepreneurs) are “big ideas” people. They don’t want to sit behind a desk all day, and they certainly don’t want to talk balance sheets. So, if you want to transform your business into a social entrepreneurship, consider hiring people that others might write off as “dreamers.” Let them come up with ideas. Meanwhile, you, as the business leader, make the plan.
Why Social Entrepreneurship Is Needed
Now, more than ever, social entrepreneurs are desperately needed in our world. So often, we see problems all around us that prevent us from hoping to create a utopian dream. Governments see the problems, but their blanket fixes don’t really address the underlying issues. Individuals see them too, but they don’t have the capital to really fix anything.
This is why social entrepreneurs attempt to build businesses that will fill the gap. Their companies will see the problems, address the problems specifically and effectively, and turn a profit the whole while doing so.
3 Ways Social Entrepreneurship Can Help Your Business
Without a doubt, hiring social entrepreneurs and attempting to get into a business model that aims to serve others is a great thing. But are there ways in which social entrepreneurship can actually help your business too? We think so! Here are four of the ways that implementing a social entrepreneurship stance can help your business.
1) Potential for Non-Profit Model
Now, we know this isn’t true for everyone. Still, it is quite possible that the authorities could consider your business for non-profit status. This might be true only if its purpose is viewed as truly altruistic by the federal government. This would mean highly reduced corporate tax rates, which would allow you to do more for your social cause if obtained.
Of course, you wouldn’t be able to take as much in salary, and there are plenty of other rules associated with being a non-profit. However, if this cause is what you are truly passionate about, then being recognized as a non-profit in the eyes of the government may be worth shooting for.
2) It Unites Your Employees
So many people go to work every day, clock in, clock out and pick up their paycheck every two weeks. There is no purpose behind what they do (except for getting a paycheck, that is). This happens because there is no passion behind what they do. If you decide to follow the model that social entrepreneurs aim to attain unto, then you may find that your employees will catch the vision and grow more inspired as well.
After all, we all want to find a really great cause to get behind. It gives us something to really “live” for instead of just existing. You may experience that your employees are happier, healthier, and altogether more jovial when working for a company that allows them to do that.
3) It Is a Great Advertising Angle
Alright, so this may not be entirely altruistic to say, but doing good things is always great press. After all, shouldn’t you be rewarded for attempting to do what is right while helping your community and others around the world? We think so, and so do others. While pursuing a social cause, you may want to consider creating an advertising campaign to let others know that you are doing so.
On the one hand, your customers potentially want to donate time and resources to the cause that you are passionate about. On the other hand, it is also possible that your company’s brand may begin to be viewed in a more positive light. This could ultimately translate into more sales for your company.
Just look at Toms: their shoes are not fancy nor stylish. Still, people buy them because they feel good about what Toms is doing. Of course, you should attempt to make great products, but the point is that you may see the same result.
As we already pointed out above, our world needs good social entrepreneurs now more than ever. There are problems all over the globe, big and small, and so many people are hurting. With the advent and proliferation of the internet, incredibly speedy communication avenues, and easy access to capital markets and lending, now could be the best time in history to start a business.
So, if you have that dream in your heart of fixing that problem or if you see that “itch” that just needs to be scratched so badly, don’t wait any longer. Begin taking steps to determine what you need to do to start your social venture. You won’t regret it!