One can either be fully sustainable or fully commercial. For-profit social entrepreneurs always face this dilemma of profit against purpose. Understanding 3 key areas where sustainability and profits conflict and why.
The term ‘social good brand’ has been used loosely to depict anyone who is contributing to the society in any way. But it may not be so. Being a Social Good Brand means being passionate about a socio-economic problem, attempting to solve it through sustained social innovation and intimately caring for the community for whom you seek the change.
IT’S NOT ABOUT THE AMOUNT OF WEALTH YOU CAN ACCUMULATE, IT’S ABOUT THE IMPACT AND CHANGE YOU CAN CREATE. – NEIL BLUMENTHAL, WARBY PARKER FOUNDER. They very definition of a for-profit social enterprise is earning money while doing social good and scaling up is needed to bring larger impact. Here are 5 questions you need to answer while you scale up your social enterprise, guided by some of the most successful social entrepreneurs.
Unemployment affects several sections of the society from the educated youth to the communities at the Bottom of the pyramid. It needs to be addressed at various levels through innovative social entrepreneurial models that rely on creation of jobs, livelihood opportunities and financial inclusion.
The Invisible Hand has not been able to address some of the most pressing problems of humanity and has failed in bringing about sustainable development. Social Innovation backed by the Government is the next vehicle of social good.
Social innovation is taking place everywhere around us as we speak. It’s nothing but how we respond to the problems in our immediate vicinity as people. However some of us demonstrate a vision and take it beyond its original context for betterment of many others. They transform from being innovators to entrepreneurs and dream of a better world which would be worth living for tomorrow.
Impact investors and startup incubators nurture social innovations into scalable ventures. Visual Storytelling can help them unite their vision with that of their investees’ mission to convey social change to a broad variety of people. All it needs is the incubators to understand this and bring it to life.
Social entrepreneurs have the potential to deliver global, long-term, and sustainable impact through disruptive, yet socially responsible ideas. Here is a quick roundup of a few social good brands doing just that.
The Personal Brand of a social entrepreneur adds a persona to a social good brand that its audiences can connect to and engage with intimately. Apart from acquiring a loyal brand following, developing a personal brand of the entrepreneur as the organization’s mascot or brand ambassador could prove to be an effective branding strategy.
The effectiveness of content has been ignored by Social Good Brands time and again. It’s time they realized that content is the elephant in the room and it needs to be fed. Regularly!