The typical business of today measures performance by using metrics that is primarily aligned with the financial aspect of the business like profit, revenue and stock price. Social Entrepreneurship is on the rise with more focus on the impact you can have on communities directly or even indirectly.
My interview with Josh Meltz inspired me and also challenged some om my thinking towards how I think about businesses that I want to be associated with in the future. The whole concept of creating something that can have a sustainable positive impact on the future will be demanded by customers going forward.
There is a couple of organisational models which can include non-profit, profit and a hybrid model all with a similar vision of creating change.
I have put some thought into this topic and this blog post is more of a conversation starter among entrepreneurs than trying to educate you on a specific topic.
The questions I pose are the following:
- What if you can get the best person in the industry to work for a bigger cause, but still getting paid market related salary?
- How much different will a CEO run this as he is not directly reporting to shareholders?
- What is the biggest problem(s) that needs solving?
- Will you offer your services as a professional free of charge or maybe even regard my time as a donation and get a tax rebate?
There is a paradigm shift that has to happen if you thinking about pure social entrepreneurship, for now I just ask you to just do some of the following:
- As a consumer: Spend your money with the local producers and manufacturers
- As a start up: Align your ideas about starting a business towards helping others first.
- As a successful entrepreneur: Create social responsibility initiatives to uplift your local community.