Are you into Social Entrepreneurship, Here Is Some Advice for You?

Are you into Social Entrepreneurship, Here Is Some Advice for You?

For every enterprise, there is always a desire to succeed. This does not leave out those in social entrepreneurship whose definition of success is to make the world a better place while making a living out of it.

However, for one to succeed in social entrepreneurship or rather in any other business, it is important for one to be aware of their challenges and how to handle them. Well, how best can one go about this than to receive advice from those who have walked the same path before us? It is for this reason we share some of the best advice from some social entrepreneurs who are doing very well in the area, right below:

  1. According to Avocado Green Mattress, co-founder and CMO, Mark Abrials, the best thing is to stick to your mission and core values at all costs. For them, it has been very important for them to remain transparent even at difficult times. After all, this has been the aspiration for their brand advocates.
  2. For Diane van Zwanenberg, the founder of Coconut Matter, her best advice is going for an issue that closes to one’s heart. This way, your heart will always give you the necessary strength when things get too thick.
  3. According to Thela’s founder, Diti Kotecha, there is no success in social entrepreneurship without persistence. While, talent, intelligence, a good idea, and good intentions matter, not giving up matters most.
  4. The most important thing for Julie Weig, the co-founder of Ruby Cup, is to kickstart that idea with that imperfect start-up plan. Once started, reach out to people in the same field as you. People are willing to give advice and help, even the seemingly unreachable. Again, Julie believes that for one to make an impactful social change, money must be involved, thus the need to invest heavily in the business part of your idea.

 

References

Top Advice From 30 Social Entrepreneurs to Help You Stay Focused

 

 

Stanford Graduates Awarded with Social Fellowship Awards.

Stanford Graduates Awarded with Social Fellowship Awards.

People committed to make the world a better place will forever be a necessity that we can’t have enough of, especially at such times as these.

Stanford Graduate School of Business has in the week announced this year’s winners of prestigious prizes for their commitment to better the world in whatever small way they could. Among them were 16 MBA and MS students. The Social Entrepreneurship Fellowship (SEF) and the Social Innovation Fellowship (SIF) are a pair that represents the main prizes of $110,000, which is used by the institution to support students whose commitment is to venture into social entrepreneurship.

SIF, the first award gives support, advice, and funding to students interested in founding nonprofit social enterprise aimed to solve critical issues facing society. The fellowship has been supporting such students across the globe since 2009. SEF, which has been launched this year, will be an award for students starting, “high-impact, for-profit social ventures that address pressing social or environmental needs.”

According to the Dean of Stanford GSB, Jonathan Levin, the institution is deeply proud of the students pursuing community impactful careers. What’s more impressive is that more students are focusing on courses that are bringing a social impact with 90% of business master students pursuing social innovative courses in 2019. The number has risen to 95% in 2020.

Dare Ladejobi, an MS graduate of 2020, is the recipient of the SIF award this year. He is a trained medical doctor who is passionate about developing healthcare products in emerging markets. His venture is focused in Nigeria.

The first SEF recipient is Kimberly Schreiber, of MBA class of 2020. Hers is a disability service company which aims at improving lives for those people living with developmental disabilities.

 

References

Making The World A Better Place: Stanford Names Social Impact Fellows

 

Social Entrepreneurship to Save the Day During the Pandemic Era.

Social Entrepreneurship to Save the Day During the Pandemic Era.

There has been a seismic shift in the recent past, on how organizations determine their success. Thanks to the internet, information about social issues and how companies respond to the is readily available to the general public. Besides financial growth and annual performance is the main measure of a company’s prosperity, there is a growing emphasis from the general public o their contribution to society. This explains the critical role being played by social entrepreneurship during the Covid-19 season.

In a survey conducted by Deloitte’s Human Capital Trends, the study revealed that 86% of millennials stated that financial success should not be the only measure of success, but rather employers should be more committed to doing the right thing in addressing social issues. Edelman Trust Barometer 2019, also found 75% support of the same.

Social entrepreneurship seems to be the preferable mode of business to the younger generation due to the growing civic responsibility among them. This is more evident in smaller economies that are struggling with a social and environmental challenge.

Social entrepreneurship seems to be becoming even more popular with the Covid-19 pandemic which has turned to be a big threat to people’s livelihood and business survival.

Social entrepreneurship turns out to be very important in such times by offering much-needed support by impoverished society sections and also rendering education, healthcare, and sanitation services. Most Europe-based social enterprises are at the forefront in fighting Covid-19, says EASPD, an NGO based in Europe.

According to the World Economic Forum report, even larger global organizations has pledged their support to social entrepreneurship in the Covid-19 fight, among them being Salesforce, IKEA, SAP among others.

References

https://timesofindia.indiatimes.com/business/international-business/why-social-entrepreneurship-is-the-need-of-the-hour-during-covid-19/articleshow/76296764.cms

 

 

 

Social Entrepreneurship in Australia’s Rural Towns.

Social Entrepreneurship in Australia’s Rural Towns.

For most Australian city dwellers, rural areas are nothing more than a slow down and refueling stop with old stony pubs. However, there is a different story to tell about these rural townships for those who have had a longer stay there, which is unknown to the road trippers.

Alexie Seller, a born and bred city-dweller, now practicing social entrepreneurship in Northern Australia, is one person who understands better the diversity of between rural and city living. Through running Impact North, her social enterprise, Alexie speaks about both the barriers and the beauty she has experienced working with the rural communities.

While it is very important to build one’s network as a social entrepreneur, this can be a daunting task in the rural area since no one is ready to travel for miles to host a social entrepreneurship conference with hundreds of attendees. However, with a good or rather cooperating internet connection, one can attend the several online webinars and conferences available due to the COVID-19 pandemic.

For Alexie, it was easier to fall back to the valuable relationships she has created in her short career. It was easier to build trust with people she has once met face-to-face than it would with a total stranger online.

Another challenge has been to find the right person to work with a certain area considering that the rural towns may not always have people with the right skill-set. Money is then needed to bring people down to the rural towns to fill a certain position.

Nevertheless, the communities prove to be quite resourceful in their unique ways. Like for Samra Billy, of Gulbarn tea in Minyerri, says that the community there has been very helpful in managing the issue of the supply chain. Not only does the community help with harvesting but also in tea transportation to Katherine during the COVID period.

For both Alexie and Samra, the connectivity of the communities and their resourcefulness has been their greatest strength.

 

References

What social entrepreneurship in a rural community is like