Steve Croth: Lived It Lecture


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Speaker Steve Croth of Better The World Inc. recounts his experiences in running a successful social venture. Get the firsthand story about the experience of starting up an innovative company.

Part of the MaRS CIBC Presents Entrepreneurship 101 lecture series:

Published in: Business
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Steve Croth: Lived It Lecture

  1. 1. Follow or Tweet:#ent101
  2. 2. Better The World® Lived It Lecture, November 18, 2009 @ MaRS. Presented by Steve Croth, MBA Founding Partner
  3. 3. Agenda •  Introduction to Better The World •  Social Enterprise Landscape •  Our Top 10 Lessons Learned •  Q&A 3
  4. 4. The Cause Company Better The World is a technology, media and services company that provides social fundraising software and innovative cause solutions to for-profit and not-for-profit organizations. Social We provide a flexible, private label, social Fundraising fundraising platform for charities, associations, foundations and online cause Platform communities. + We have a permission based, online social Cause citizen network that is supported by a Media unique delivery model that converts Solutions corporate marketing dollars into donations, while driving superior results. + Cause We offer services that help firms develop and implement integrated cause strategies Services that improve engagement, drive new funding and raise awareness for a cause. 4
  5. 5. Problem 100,000,000 people online <1% donating there has to be a way to engage the other 99% to raise money for charitable causes 5
  6. 6. 6
  7. 7. Solution New Revenue for Charity $2.5B $200M Social Fundraising Redeploy Platform 5% $7M Total Donations Causes 2008 % Transaction Fee Global Cause Marketing Spend 2008 Sources: Giving USA, Cone Inc. 7
  8. 8. Consumers Free ways to raise money Compelling messages Greater Impact on Social Issues Freeraiser Platform New Fundraising Methods New Value Propositions Engagement & Awareness Social Citizen Engagement Superior Market Performance Give Marketing Companies Communities 8
  9. 9. What is Social Innovation? Defn’:  Social Innovation:  the process of developing new ideas, processes, products and services that are designed to address and resolve one or more social issue(s). 9
  10. 10. Where is Social Products Services Innovation? Technology Energy Charity Schools Government Finance 10
  11. 11. Trends Triple Helix Social Citizens C.S.R. Cause Marketing Technology Social Media Fundraising Innovation 11
  12. 12. Observations Scale Collaboration Structure Storytelling Think/Act Global 12
  13. 13. Do You Fit the Mold? Is the World a better place because of your product or service? 13
  14. 14. Why Social Entrepreneur? Impact Identity Imprint Innovation 14
  15. 15. What Have We Learned? Our Top 10 15
  16. 16. 1. Capital Plan to get none Bootstrapping Sales Building Value Big fish, small pond The LONG NO Gov’t Funding 16
  17. 17. 2. Outsourcing Quality Proximity Ownership Timeliness Agility 17
  18. 18. 3. Team Core Needs The Bus Do’ers Leadership Guts & Risk 18
  19. 19. 4. Vision Founders The Destination Common Direction Culture 19
  20. 20. 5. Market Acceptance Personas & Actors Proof of Concepts Pilot Feedback & Testing 20
  21. 21. 7. Volunteers & Advisors Need + Function + Role Managing Reciprocity 21
  22. 22. 8. Investments Bad Ones Non-Core, Legal, Financial Good Ones Core, Sales & Marketing 22
  23. 23. 9. Timing You Don’t Choose The Curve Trailblazing 23
  24. 24. 10. Management Discipline Modeling Strategy Partnering Dependencies Risks Constraints Short vs. Long Term 24
  25. 25. 10. Do Over Canada? Build Around Bootstrap Raise Money First Invest in More in Core Wait to Build Team Define When to Walk 25
  26. 26. Your New Life 26
  27. 27. The Different You 27
  28. 28. Questions & Answers Better The World® 28
  29. 29. Where Good Meets™ . To learn more, visit or contact your Better The World representative. Better The World® CANADA USA 1.800.928.9135 488 Wellington Street West 1025 Connecticut Avenue NW 1.647.827.0412 Suite 501 Suite 1000 Toronto, Ontario M5V 1E3 Washington, DC 20036 29
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