Business

3 Steps to Succeed as a Social Entrepreneur

In recent years, social entrepreneurship has become a familiar term, a business model that not only aims to build a profitable business to the owner but also inspires to change the lives of people entrenched in poverty. And with more millennials taking charge, this can be achieved. But what does one need to do to become an agent of social change? 

Write a Business Plan

What does a business plan of a social entrepreneur cover? Apart from a typical business plan that discusses about what product is being offered and its vision for the future, it includes the social problem it aims to solve, how it will be addressed and what makes the organisation qualified to do so. And just like any ordinary company, it should include information about the management team, a marketing plan, funding and financial forecasts. business-1297332_640

Aim on Customer Experience

There are three types of customers. First is the person who also aims to make a change by sharing or giving to others without expecting in return. The next is the traditional buyer who wants your product. And the last is the beneficiary of your cause. While they know what they want, you, as the social entrepreneur should ensure you deliver good quality product or service. Come up with deals that will benefit both your consumer and your organisation to thrive in the industry. 

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Train Your People

It is also important to equip the members of your team with management and leadership skill to ensure your organisation realises its vision. Most businesses fail because of poor time management, lack of training for the staff as well as poor management skills. So, what type of coaching do businesses and social enterprises need? You can offer mentorship and work with training experts.

Now that you have the 3 important steps to being a successful social entrepreneur, your next step is to execute them. Deliver what you intend to give and make a difference.

 

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