2 Important Aspects of Social Entrepreneurship

Today, more people are becoming aware of the social problems around the world and finding ways to address the issues. Billionaire and philanthropist, Bill Gates, along with his wife Melinda have been encouraging other big names in different business sectors to end poverty in the world. But one does not have to be very rich to effect change and be a social entrepreneur.

Here are two important factors to consider:

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Creating a Business Plan

Unlike a typical business plan that discusses about what product is being offered and its vision for the future, a business plan of a social entrepreneur covers these things but with a lot more. It includes the social problem it aims to solve, how it will be addressed and what makes the organisation qualified to do so. Create one that includes information about the management team, a marketing plan, funding and financial forecasts.

Concentrating on Customer Experience

In a social enterprise, there are three types of customers to cater to. First is the person who also aims to make a change by sharing or giving to others without expecting in return. Second is the traditional buyer who wants your product and last is the beneficiary of your cause.

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While they know what they want, you, as the social entrepreneur should ensure you deliver good quality product or service. It is also imperative to come up with deals that will benefit both your consumer and organisation. When it comes to typical customers, the idea of being able to help indirectly by buying a certain product can be elating. Focus on the experience of your targeted customers and make them a part of change.

As a social entrepreneur, it is also important to create a niche in the industry by creating a unique service or product. However, goals should be geared towards alleviating the lives of people in the community. By knowing the important aspects of social entrepreneurship, you can succeed in making a change.

 

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