Social entrepreneurship is different from business entrepreneurship. Although same skills are shared throughout, social entrepreneurs use them for a different set of people. Such entrepreneurs see the problems that society faces and aims at making them better. They manage their business and their ventures in order to improve society and the environment. Many people usually see social entrepreneurs in voluntary and non-profit sectors. Although they are working for such, it does not mean they are not out to make a profit. They aim at making a profit while benefitting the environment and society. The below information will look at the various aspects that encompass and pursue social entrepreneurs.[ois skin=”Resource Page Inline”]
Those who undertake social entrepreneurship are driven by a desire to improve change and help environmental, social, economic and educational situations. Social entrepreneurs thrive on ambition and their desire to help the world. They do not accept the world they live in as it is and hate the status quo. This emotional desire makes them want to “fix” the many problems plaguing the world. Such problems include the shortage of education and increasing poverty. This emotional ambition makes them work harder – as opposed to the want of profit. They want to solve global problems by creating solutions that are both sharable and long-lasting. Most social entrepreneurs aim at improving the products and services that currently exist. They strive to make various opportunities available to everyone rather than a select few. They aim at making big changes within their communities and often generate solutions that are based on pre-existing solutions. The best part is that they do this all the while making a profit. Although many social entrepreneur ventures are funded by various organizations, profit is always made.
The problems faced by social entrepreneurs are similar to those faced by their equivalent in the business world. Whether it is starting, running or sustaining their business, the underlying problems are the same. Furthermore, before making their mark with a new business idea, social entrepreneurs need to ensure that they know about the problems they and society will face. If they understand this, they can make informed decisions.
A normal entrepreneur will generally judge success or failure by the profits they make. However, a social entrepreneur is only successful when he/she makes a profit and has a positive social impact. In fact, it is this motivation to do something good that is a big challenge. Proper motivation makes you worker harder and better. If you do not have the right motivation, you cannot be a successful social entrepreneur. If you want to be a social entrepreneur, you need to make sure that you have the right motivation. Social entrepreneurship is not an easy thing as you have to achieve two goals at the same time rather than the conventional one. If you want to be a social entrepreneur, you need to be honest about your motivation and ensure that you have the right ideas. These ideas need to make you profit and have a positive impact on society.[ois skin=”Resource Page Inline”]
The Funding Problem
Possibly the most common problem that social entrepreneurs face is that of insufficient funding. Most businesses that are based around social entrepreneurship take many years to make any profit. This can be a hard blow to motivation. If you plan to become a social entrepreneur, ensure that you have sufficient funding in addition to your own profits.
The Lack of Business Experience
The reason why many ventures by social entrepreneurs seem to fail is that they have very little business experience. They may have the right aims, motivation and the passion to help society but if they do not know how to run a business, all their efforts will be in vain. They may make a profit initially but may not be able to sustain it.
Getting the Right Team Together
You may want to save the world and are willing to make less profit for a better cause but not everyone is like you. Although a noble cause, the financial situation the world is in makes people want to earn more money than ever before. Finding people that share your vision and are also willing to make fewer profits for a better cause is not easy.[ois skin=”Resource Page Inline”]
A Slow Start
Unlike other businesses, one made to benefit society can take a lot longer to start up and even longer to generate profit. The research and development period can last anywhere between six to twelve months. It may then take another three or so years to cover the initial funding. This route does not involve any shortcuts and is a long investment.
Never-ending Hard Work
Running a social enterprise is not an easy task and it certainly doesn’t get easier with time. Even if a social entrepreneur has a brilliant idea and creates a successful business, the business can still fail. All the problems associated with normal businesses persist with social businesses. Social entrepreneurs have to put in a lot more work than those running normal businesses.
Overcoming the Problems
Just because there are problems does not mean they cannot be overcome. Entrepreneurs in general can make good from the bad. They are opportunists who can make a profit from practically anything. Their intuitive mind and drive makes them very competitive. They can always find a way out of a problem. Many social entrepreneurs join social entrepreneurial organizations in order to learn the tricks of the trade before they materialize their ideas. This is a wise move as learning by doing, is the quite easily the best way to learn. Social entrepreneurs, more than most other entrepreneurs, have an optimistic attitude. When in the face of many problems, they look at them as a new challenge. Where people are concerned with the problems, social entrepreneurs don’t even consider them as such. They know that everything will be fine and learn from the problem in order to ensure they don’t happen again. Above all, social entrepreneurs have a lot of courage and resilience. Their courage enables them to aid a cause and risk where most people would not dare to. They are happy making less money where their business counterparts are making a lot more than them. Their resilience grants them the ability to endure any and all problems and failures. It allows them to take the problem and make it into a successful idea in order to benefits society. Social entrepreneurship is the key to fixing the problems of the world and getting paid to do it. Social entrepreneurs may have to face a lot of problems but even then they are able come out on top.[ois skin=”Free Report”]