Most consumers would rather spend their money on a business that supports a cause or provides a portion of the proceeds to a charity. When a business proves to be better for the people and the planet, society will reciprocate with profits, referrals and social media sharing. This business model and thousands alike spawned most recently through social enterprise.
A social enterprise is a business that harmonizes a need combined with monetizing a product that is usually handmade or has a unique component. The best way to create a business is to solve a problem. The life of a social entrepreneur is the ability to solve a problem and make profits by fulfilling not only consumer demand but also providing jobs to employees in high need areas of the world.
The best way to describe the social enterprise business model is explained in, “2 Keys to Sustainable Social Enterprise.” The well known, Doctors Without Borders, are given praise as well as Goodweave; a carpet weaving business that has developed a long term approach to serving both clients and employees in rural areas.
Social enterprises and entrepreneurs also discuss the creation of their ideas and what makes a business perpetually succeed. The bottom line is that the business leads to a powerful impact and global need to be fulfilled by adding an exorbitant amount of value that consumers can’t help but compensate. The ideas that help make the world a better place also are worth the expense, and people are happy to subsidize the business if it is donating to the global marketplace.
So what if you have an idea but are not sure how to get started? Every solid business starts with a mission statement and research. Next is to determine why this idea is original from anything else already out there and what will set it apart. Having an action plan that captures proper start-up costs and talking to people who might be willing to guide the process is also important.
The idea is only the beginning of the journey of being a social entrepreneur and creating an enterprise from the ground up. Do not overthink the process as most sustainable businesses were born as a result of fulfilling a valuable need in society. With the passion of life, so comes the profits of success.