The ABC of Social Entrepreneurship: Where and How to start your social business of the right foot?

Hey Changemakers, how is it going?

In our last “The ABC of” series you already learned the most important terms and concepts of social innovation. If you haven’t watched it yet, we encourage you to do so and get all the tips and tops you may need: https://youtu.be/AkfC7sVHapc

And when you‘ve done that, it‘s time to start things up by entering the wondrous world of Social Entrepreneurship. How do you even start climbing a ladder of a social enterprise? Watch the full video here:

SOCIAL ENTREPRENEURSHIP
Now, there are probably as many definitions as there are entrepreneurs, but the bottom line on this one is that a social enterprise is an organization that uses business strategies to improve social and environmental conditions on a systemic level. Contrary to an old belief, aiming to create a social impact does not mean you can not aim for financial gain. Social entrepreneurs work with ideas from both the business and nonprofit worlds to meet their goals. Although social impact is always the main goal here, these two can really help each other in the process.

START-UP

A start-up is an early stage company or organization designed to find a successful business model for your solution to come to life. Most startups start very small and are willing to take the biggest risks. It is also one of the most exciting steps of your organization, so strap on your seatbelts on and let’s get into it!

INCUBATOR
The social business incubator provides office services, consults on business management and marketing issues, organizes trainings and seminars, mediates in receiving financial support, and helps to implement the latest and most advanced technologies in production. Incubators support startup businesses so that they have a higher chance of succeeding in the market over a longer period of time.

ACCELERATOR
Generally speaking, an accelerator is a fixed term program that usually lasts from three to twelve months. As an example, “ChangeMakers’ON” accelerator program offers everything from help with creating a business model, attractive pitch, and entering the market, to personal and professional skills trainings, idea development or networking tips. Feel free to check out the full program at www.changemakerson.com

HACKATHON
This is a fast-paced idea-making event where the air is filled with all kind of social innovations and a high chance of taking them off paper to get some real results. Made with passion, love and good will of experienced partners and mentors from all over the Europe, “ChangeMakers’ON” hackathons are not only extremely helpful and motivating but also incredibly fun!

SPRINT
Now, there is one more similar type of event and you probably already know it: a social business sprint. “ChangeMakers’ON” recently had a few of those and so to keep it fun, I invite you to watch our social business sprint “Turn The Impact ON” review with a really fluffy dog included! Nothing makes it as clear as a live-review of this term in practice:

PITCH
All the events mentioned above have one thing in common: all of them require a perfect pitch. A business pitch is a very short presentation of your business idea, delivered within a few minutes. It is also sometimes called “An Elevator Pitch”, referring to a time you might have to impress someone during an elevator ride. Creating a good pitch is critically important for getting investor’s attention and growing your startup. That is actually the first thing you should bring to any of the events I mentioned before!

And that makes our ABC of Social Entrepreneurship for today. Next in series — the ABC of Finances and Investors: how to snatch their attention? Feel free to check out our Youtube channel so you get all your tips the moment they air!

Did you learn something new? What kind of innovative ideas are blooming in your mind? Where do you see yourself making social impact today? Let us know in the comments below and let’s have a chat. Also, feel free to learn more at Changemakerson.com and keep creating impact with social innovation!

Watch more at youtube.com/changemakerson

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