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BECOMINGAN ENTREPRENEUR – CLASS NOTE 1
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Welcome to Brands and Communities
The goal of Brands and Communities is simple – We want to help local entrepreneurs and community members worldwide establish
sustainable and impactful businesses solving social, cultural, or environmental issues.
Whether you are looking to creating businesses built to provide lasting revenue, create jobs, and ensure long-term sustainability in your
community. We help sharpen your entrepreneur skills to make a positive impact. We support entrepreneurs with strategic skills to enable
them scale ventures fast.
Brands and Communities focuses exclusively on training, matching entrepreneurs with our successful global business and providing
support till every entrepreneur on the brands and communities platform establish same business in local communities. Unlike many
business schools that offer a basic, generic entrepreneurship study and path, social entrepreneurship and enterprise is our only focus. We
can provide the most up-to-date industry and regulatory information and resources to our participants.
How is the Brands and Communities Program Different?
3
• Achieve Your Potential
How is the Brands and Communities Social Entrepreneurship Drive Different?
A large percentage of institutions and companies will simply provide participants with course program, certificate, and graduating events. At
Brands and Communities, we do not stop our interaction with prospective business partners upon completion of the training course. Our model is
that we matchmake registered entrepreneurs on our platform with an agreed business industry they deem fit to establish in respective communities.
This business industries are amongst a list of social entrepreneurs’businesses we’ve partnership, Memorandum of understanding and agreement
with and we intend to grow, improve, sell and/or replicate business model in communities worldwide requiring to solve social, cultural, or
environmental issues.
We support and provide resources and guide our prospective entrepreneur partners throughout the forming and establishment of agreed businesses
in various communities.
Taking our successful business to respective communities is the best form of starting your company and will be greatly beneficial, either as your
first company, second company, retirement business or a buyout.
Establishing these businesses in one’s community or country’s business arena is a long-term process. Prospective partners will need to develop a
comprehensive plan and ensure that they are completing every phase of that plan. The adage is true in establishing Social Enterprise: Failing to plan
is planning to fail. Not only will you requite a business strategy, but you will also need marketing and sales objectives to get established
successfully. Additionally, partners will be required to submit a proposal plan for social enterprise industry required for community.
4
Course 1: Becoming an Entrepreneur
Course 2: Entrepreneurship
Course 3: Market Entry
Course 4: Getting things Set-Up
Course 5: Business Formation
Course 6: Business Plan
Course 7: Financing and Funding
Course 8: Marketing Plan
Course 9: Data and Marketing
Course 10: Complete Marketing Plan Workbook
Course 11: Finding Qualified Buyers
We support entrepreneurs and guide them through the following important questions: (1).
We help clarify entrepreneur chosen community and specific user and if they have a
problem that our list of established businesses can help solve through strategic partnership.
(2). We help clarify if there is an existing market for the solution within the user base. (3).
We help make an understanding of their hypothesis about real value creation.
Brands and Communities has developed the tools necessary for partners to focus on goals
and create strategies based on desired business to be established throughout communities.
The training course of the Brands and Communities Social Entrepreneurial Drive consists
of Eleven (11) strategic parts. They are as follows:
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Each course will build upon the previous one. Support will be given to partners for
a maximum of three (3) years or when a business gets established, whichever
comes first. Brands and Communities has taken care to provide prospective
partners with all the tools they need for success. Study guides, samples test
questions, additional information, continuous support all the way and as official
business partners.
Brands and Communities has also created a three-year robust plan system to help
prospective partners get started. We know that starting a new business or buying a
business can easily be overwhelming, there is so much to do, where does one even
start? What should you do first? We remove the guesswork, so that you have a
formula to follow till a deal is secured and business established within
communities.
Our believe is that before the end of the three years support period, the foundation
would have been laid and businesses would have been created.
6
• The Entrepreneur
Social entrepreneurs work incredibly well in solving inadequacies in countries and proffer solution to solve community-based problems. They create
positive changes in society through various initiatives driving social cohesion and inclusion, sustainability, and improvement in nations PESTLE issues, this
includes proffering solutions to Political, Economic, Social, Technological, Legal and Environmental Factors through social enterprises.
There is no better time than now, that Social entrepreneurs are needed to help serve the most vulnerable across nations and introduce remedies to problems
on the ground, with available business models on our platform, we can help revitalize the sustainable development agenda and build a more resilient,
inclusive future.
The Social entrepreneur is a special breed, they dedicate time to the practice of responding to market failures with transformative, financially sustainable
innovations aimed at solving social problems. This individual can see beyond the problems or shortfall in societies and nations and identify opportunities to
create, introduce and establish opportunities and community social, economic, and environmental solution to help humanity and mankind. This person also
appreciates the value of solving critical social problems. By introducing and establishing viable solutions in respective communities, new markets and
gaining a broader market share of customers.
Entrepreneurs registered on our platform will not be dependent upon the success or failure of creating a business or operating the business alone, but will
have a more stable platform in which to partner with owners of successful global companies and establish sustainable, formidable companies in respective
communities and location. It is estimated that there will be 1 billion new consumers entering the global market by the year 2020, and the smart entrepreneur
will go after those consumers in identified markets that have been planned and well- thought out. Entrepreneurs trained on our platform will constitute a
new breed of entrepreneurship that exhibits characteristics of nonprofits, government, and business, including applying to social problem, solving
traditional, private-sector entrepreneurship’s focus on innovation, risk-taking, and largescale transformation.
The World economic forum in partnership with the Schwab Foundation host a Social Entrepreneurs’Summit annually, bringing together business and
Government to commit on improving the state of the world. They place high priority on social entrepreneur as compared to other vices and with the world
facing incredible societal challenges and needs, social entrepreneurial acts as an engine of innovation, job creation, and economic growth. According to
Stanford Social Innovation Review, “Social entrepreneurship is vital to the progress of societies.
Social Entrepreneurship: Can perform the following task, they help Private
Sector/Businesses Utilize markets to exchange goods and services for profit, drive
productivity and innovation. They work with Public Sector/Government in responding to
market failures by providing public goods and services or through redistribution and
Lastly, by Voluntary Sector and Nonprofits sector. Social entrepreneurs engage individuals
in action to achieve social goals.
A nexus between Private Sector/Businesses, Public Sector Government, Voluntary Sector
Non-profits help produce the upspring and strengthening of Social Entrepreneurship.
Social entrepreneurship may take the form of a nonprofit, business, or government
initiative.
For Example: Private-sector companies have begun competing in fields such as
education and social services, giving such companies opportunities to provide services that
were once considered core government activities.
Government agencies are ceasing to work as monopolies, and instead are relying on
nonprofit and private service providers that are managed through contracts and the
allocation of grant funds.
For the nonprofit sector, pressures are growing to fill gaps in public service delivery,
ensuring that citizens can get the services they need even when government is unwilling or
unable to provide it. If they are to provide essential services, nonprofit leaders are striving
for sustainability to ensure that they will continue to be able to meet the needs of the
populations they serve.
Non-profits adopt outcomes-driven approaches to funding and face demands for
accountability.
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Corporate social responsibility movement is the norm for businesses, motivating businesses to account to their
community or improve their images, gain marketing advantages, or altruistically benefit society. Corporations have
demonstrated a growing interest in volunteer and philanthropic opportunities.
Like business, social entrepreneurship utilizes markets to drive innovation and productivity. Like government,
social entrepreneurship responds to market failures by providing public goods and services. Like nonprofits,
social entrepreneurship engages individuals in action to achieve social goals
Each sector now interwoven and social entrepreneurship may take the form of a nonprofit, business, or government
initiative with public sector introducing competitive sourcing initiative, market competition and many nonprofits
developing business-like ventures to generate revenues.
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What Is Social Entrepreneurship
Social entrepreneurship, then, is the practice of responding to market failures with
transformative, financially sustainable innovations aimed at solving social problems.
– WE WILL BREAK THIS DOWN AS WE PROCEDD IN THE LECTURE
10
How Did It All Start
Social innovators that changed the social landscape in the 1800’s include Florence
Nightingale and Horace Mann, they are social entrepreneurs because of their work
in nursing and public education.
Social entrepreneurship emerged just over two decades ago in the United States.
In 1980, Edward Skloot created a consulting firm helping nonprofit organizations.
In 1983 Harvard Business Review article coined the term “nonprofit
entrepreneurship”.
In 1981, private-sector consultant Bill Drayton founded Ashoka, connecting the
public to social entrepreneur. In 1985, Management expert Peter Drucker’s book
Innovation and Entrepreneurship described the dynamic nature of
entrepreneurship.
In the early to mid-1990s the term, social entrepreneurship was introduced to
academic, research and material written for the public.
Social entrepreneurs are creative thinkers, continuously striving for innovation,
which can involve new technologies, supply sources, distribution outlets, or
methods of production. Innovation may also mean starting new organizations or
offering new products or services. Innovative ideas can be completely new
inventions or creative adaptations of existing ones.
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Components of Social Entrepreneurship.
(1). Response to Market Failures - The social entrepreneur’s value proposition of
targeting an underserved, neglected, or highly disadvantaged population that lacks
the financial means or political clout to achieve the transformative benefit on its
own.
Three different types of approaches that social
entrepreneurs take in targeting beneficiaries and responding
to market failures
Social Entrepreneur Path.
Social-Entrepreneurial Approaches to Solving Social Problems
Approach to Market Failure
No- Market – This is particular to Government agencies or nonprofit
organizations. No earned revenues are obtained from the beneficiary to sustain the
initiative by the Social Entrepreneur.
Most commonly, no-market approaches take the form of government
initiatives or nonprofit organizations.
Limited Market – Particularly for Nonprofit organization, clients have
some ability to pay, earned revenues can be received from the beneficiary to
sustain initiatives.
12
Low Profit Market – This is meant For-profit companies or nonprofit
organizations. The beneficiary has the potential to pay the full cost while solving
the social problem and thus has the potential to generate a profit. The market may
be initially underdeveloped, they eventually develop to profitable enterprises.
(2). Transformative Innovations – The process of Social Entrepreneurs having
initiatives with potential for transformative social innovation on a local, national,
or global scale.
Social Entrepreneurs here, are creative thinkers, continuously striving for
innovation, which can involve new technologies, supply sources, distribution
outlets, or methods of production. Innovation may also mean starting new
organizations or offering new products or services. Innovative ideas can be
completely new inventions or creative adaptations of existing ones
(3). Financial Sustainability - Social Entrepreneurs utilize business-like
productivity and efficiency measures to determine their capture and use of
resources. Although financial modeling is not truly defined within the social
entrepreneurial space, but for transformative solutions to be effective, financial
sustainability is essential. For example: (cost-benefit analyses, return on
investment, organizational performance report
13
Let us Look at two components of Financial Modeling.
Nonfinancial resources – These are made up of volunteer workers, with funding generated mostly by donations to sustain the financial steam of the initiative.
Predictable revenue sources – They provide predictable funding, despite conditions of market failure. designed specifically for revenue based, customer fee and
performance-based ventures and initiatives, this helps provide predictable funding. These revenue source depends on the business model used in addressing market
failure and social issue.
(A). No Market Approach - Created venture can operate using a long-term, repeat, and performance-based funding sources or earned income model in receiving
payment from the direct beneficiary or Build an alternative to receiving income from a target beneficiary into the model for addressing the problem – Example:
RSVP San Francisco https://www.bing.com/search?q=RSVP%20a%20San%20Francisco-based%20government%20initiative&qs=n&form=QBRE&sp=-
1&pq=rsvp%20a%20san%20francisco-based%20government%20initiative&sc=4-48&sk=&cvid=593642FB207743EC8F43B4A4EC4B4780 – ( do a small
presentation on it and let participants comments and bring up suggestions).
(B). Limited-market approaches – Follows same funding source as above. – Example: TROSA
(https://www.bing.com/search?q=TROSA&cvid=dcf07f506c97422a8139e37a632b7fb9&pglt=803&FORM=ANNTA1&PC=HCTS) -( do a small presentation on it
and let participants comments and bring up suggestions).
(C). Low-profit-market approaches – Income generated from beneficiary with capital sourced from socially motivated investors DON’T READ:( They are willing to
accept below-market returns, or wait for profits while the market is developed, in exchange for social impact) – Example: Outside The Classroom, acquired by
EverFi (https://www.bing.com/search?q=EverFi)&cvid=e457d88978454ea089ff663c74ae4e7b&pglt=803&FORM=ANNTA1&PC=HCTS) - ( do a small
presentation on it and let participants comments and bring up suggestions).
Entrepreneurs on our platform building social enterprises and adopting no-market, limited market, and low-profit-market approaches can address these problems
while striving for what can be considered a different kind of profit: the generation of new and transformative solutions to the world’s most pressing social problems.
14
• Mission and Vision
Creating own social enterprise or partnering with established social entrepreneurs and proffering solution to financial, social, and
environmental well-being of communities takes considerable planning, commitment, and focus. As entrepreneurs, more so social
entrepreneurs, goal, and values of the business must be clarified and documented.
The would-be entrepreneur must set a vision for owned, partnered, or acquired enterprise. It could be a small community project or a
country wide business initiative. Either a country sales representative, global partner or part of the international team, the vision need
to be formulated based on the actual business initiative. The vision statement sets the direction for the enterprise and helps gives
direction to, where do we want to go with the business.
Getting a business established requires the creation of a mission statement. A well- thought out and crafted mission statement, ensuring
everyone understand what it is the company does. The mission statement helps clarifies the purpose of the organization, creates a
success path, and drives the decision-making process.
Entrepreneurs are required to formulate vision, mission, and core values statements. By focusing your direction, it will make it easier
for the entrepreneur to plan, set the foundation and get required results. Don’t worry, if you are new to entrepreneurship, with time as
you learn and make progress in this course, you will expand your industry knowledge base and it will be easier to define what it is you
will do and plan to accomplish.
Let us look at some sample of vision, mission, and core values statements to help you create desired
statements.
15
Mission Statement
Mission statements gives a description of what your business is all about and your
target audience category. In effect mission statement helps show how your
company will go about realizing the vision detailed in your vision statement. As a
social entrepreneur, it simply helps you best articulate, how your business will
achieve its social purpose. The hint to it is that Mission statements need to be
concise and to the point. Normally a sentence or two is required. The most
important thing is to focus your mission on the activity or activities that are most
important in making the companies vision a reality. For example, the socially
conscious computer dealership's mission statement could be, "To provide safe,
affordable, and environmentally friendly computer and peripheral products to
today's informed consumers."
16
Vision Statement
This relates to the outcomes and result required. For example, a computer shop might create a
vision statement describing their goal to become the largest computer retailer in the northeast. But
social entrepreneurs take the "desired outcome" concept a step further by including articulating the
noble cause that brings meaning to their work and describing the social benefits they hope to
achieve through their company. So, if the computer shop were owned by a social entrepreneur, the
vision statement could say, "To become the largest computer retailer in the northeast by promoting
environmentally-friendly products and practices.“
Core Values
Core values are the heartbeat of social entrepreneurism. They help elaborate on the business
beliefs and give a clear understanding on what the organization and business owner stands for. As
Social entrepreneurs, value statement and social commitments should be core in a socially minded
company but must contain business value alongside to reflect the business operation side of the
social enterprise.
16
EXERCISE 1: Now, use the space below to jot down a few notes and start creating your mission, vison, and core values
Mission:
Vison:
core values:
17
18
• Dispelling a Few Myths
Through your research and time that you have spent in trying to learn how to start
a social enterprise business and be part of this industry, you have probably
discussed, sought advice, gone through brainstorm session, browse through many
websites and sourced information both online and offline.
Some sources and claims are probably reputable and true, whilst some are
probably not with false information.
Presently, Social entrepreneurship is making major stride across the world, even
though many myths and misconceptions exist. We are going to fact check a few of
the popular claims that we have come across.
Social Entrepreneur are not focused on business development and strategy.
Ventures created are not for profit.
TRUE
FALSE
19
This is a well-known and widely spoken about myths, that social entrepreneurs create ventures for non-profit purpose. The truth about it,
is that you are either both or neither. Entrepreneurs operating profit and non-profit ventures need a profit stream. The for - profit wants to
build a successful business and make loads of money, whilst the not-for-profit requires finances for services offered, funds to keep staff
employed and successfully carry out all administrative and operation task of the venture.
The success of either for-profit or not-for-profit depends largely on a well-articulated business plan to build a viable business, this
involves planning, management focus, due diligence, day-day business operation and tools, all this requires a robust financial model to
pay for services received, expenses on business operation and build multiple income generation stream. Except, perhaps your non- for-
profit organization are designed strictly for charity causes.
Social entrepreneurs are social impact laser focus and don’ t care much about income generation.
TRUE
FALSE
20
Social entrepreneurs are change agent, innovators and they help communities
improve their quality of life and help proffer solution to community challenges in
various demanding areas like, education, poverty alleviation, health care,
environment, they also help with PESTLE issues (political, economic, social,
technological, legal and environmental) and so on.
As you can see, social entrepreneurs help shape society positively, they create
distinctive, wide-ranging, sustainable services, products, technology and
techniques that provide remedy to the most challenging and discomforting society
problems and in-order for this innovations, ventures and changes to remain
sustainable, they must also make PROFIT!.
In a nutshell Social entrepreneur enhancing social wealth local and globally,
MUST generate FORTUNES for THEMSELVES!
Social entrepreneurship is a waste of time, created social enterprise are not
scalable
FALSE
TRUE
21
All enterprise regardless of category require various factors to scale up their business, how well they implement them determines their level of scalability,
entrepreneurs must clearly understand the community and ecosystem they are planning to operate in, conduct business validation and have a model that can
produce repeated sales and efficient delivery process that gets even better with added customers, develop strategy that will help you grow on revenue, partner
with customers and community groups and take the last resort of raising outside funding, equity financing or sourcing venture capital funds.
Social entrepreneurs are focused on doing good and are not real entrepreneurs.
FALSE
TRUE
Yes, they focus on how to make the world a better place and they do a good job at it, over the few years they are transforming in to mainstream
entrepreneurship, creating social initiatives, but yet facing failures like entrepreneurs, market challenges, difficulties with customer acquisition, getting finances,
most social entrepreneurs make headways same way like their counterpart entrepreneurs, through the use of expertise, knowledge, strategy and being persistent,
engaging people and generating million of dollars.
All social entrepreneurs need to do is showcase the good side of their business and not push on generating income.
FALSE
TRUE
Social enterprise addresses social needs through products and services and their employees help aid earned revenue flow. They require resources to implement
strategies and programs, this income are utilized in addressing financial obligations and making substantial turnover. Showcasing your good deeds, ideas and
projects can help create awareness and a push to do more but the resources and the support to do it comes from capital.
21
22
• Getting Started
Every individual or company has defined their reason and purpose for
venturing into Social entrepreneurship. Remember that every community as
a social, economic, and environmental challenge and social entrepreneurs
help through the creation of enterprise, product, and services in alleviating
such plight, there are two sides to the transaction.
We hope that the services you receive from Brands and Communities will
exceed your expectations. You can always contact us, anytime, and we want
to help you with questions or any issue you may encounter. Please do
remember that while we are here to assist and advise you, ultimately, this is
also your business and you will get out of it what you put into it.
Please remember that you need to focus on the program. The most
successful social entrepreneurs on this course will look to the time spent on
this training as no different to the time spent on setting-up and running their
enterprise business. You must stay focus and act daily to move up
progressively on the training course, matchmaking process and the support
phase and even beyond when a business deal has been made. Participants
must set aside time and be consistent on this program.
Best wishes on your journey into the world of social entrepreneurship – We
sincerely do hope that you achieve your entrepreneurial potential.
Thank you for watching
23

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Module 2 becoming an entrepreneur class note 1

  • 2. 2 Welcome to Brands and Communities The goal of Brands and Communities is simple – We want to help local entrepreneurs and community members worldwide establish sustainable and impactful businesses solving social, cultural, or environmental issues. Whether you are looking to creating businesses built to provide lasting revenue, create jobs, and ensure long-term sustainability in your community. We help sharpen your entrepreneur skills to make a positive impact. We support entrepreneurs with strategic skills to enable them scale ventures fast. Brands and Communities focuses exclusively on training, matching entrepreneurs with our successful global business and providing support till every entrepreneur on the brands and communities platform establish same business in local communities. Unlike many business schools that offer a basic, generic entrepreneurship study and path, social entrepreneurship and enterprise is our only focus. We can provide the most up-to-date industry and regulatory information and resources to our participants. How is the Brands and Communities Program Different?
  • 3. 3 • Achieve Your Potential How is the Brands and Communities Social Entrepreneurship Drive Different? A large percentage of institutions and companies will simply provide participants with course program, certificate, and graduating events. At Brands and Communities, we do not stop our interaction with prospective business partners upon completion of the training course. Our model is that we matchmake registered entrepreneurs on our platform with an agreed business industry they deem fit to establish in respective communities. This business industries are amongst a list of social entrepreneurs’businesses we’ve partnership, Memorandum of understanding and agreement with and we intend to grow, improve, sell and/or replicate business model in communities worldwide requiring to solve social, cultural, or environmental issues. We support and provide resources and guide our prospective entrepreneur partners throughout the forming and establishment of agreed businesses in various communities. Taking our successful business to respective communities is the best form of starting your company and will be greatly beneficial, either as your first company, second company, retirement business or a buyout. Establishing these businesses in one’s community or country’s business arena is a long-term process. Prospective partners will need to develop a comprehensive plan and ensure that they are completing every phase of that plan. The adage is true in establishing Social Enterprise: Failing to plan is planning to fail. Not only will you requite a business strategy, but you will also need marketing and sales objectives to get established successfully. Additionally, partners will be required to submit a proposal plan for social enterprise industry required for community.
  • 4. 4 Course 1: Becoming an Entrepreneur Course 2: Entrepreneurship Course 3: Market Entry Course 4: Getting things Set-Up Course 5: Business Formation Course 6: Business Plan Course 7: Financing and Funding Course 8: Marketing Plan Course 9: Data and Marketing Course 10: Complete Marketing Plan Workbook Course 11: Finding Qualified Buyers We support entrepreneurs and guide them through the following important questions: (1). We help clarify entrepreneur chosen community and specific user and if they have a problem that our list of established businesses can help solve through strategic partnership. (2). We help clarify if there is an existing market for the solution within the user base. (3). We help make an understanding of their hypothesis about real value creation. Brands and Communities has developed the tools necessary for partners to focus on goals and create strategies based on desired business to be established throughout communities. The training course of the Brands and Communities Social Entrepreneurial Drive consists of Eleven (11) strategic parts. They are as follows:
  • 5. 5 Each course will build upon the previous one. Support will be given to partners for a maximum of three (3) years or when a business gets established, whichever comes first. Brands and Communities has taken care to provide prospective partners with all the tools they need for success. Study guides, samples test questions, additional information, continuous support all the way and as official business partners. Brands and Communities has also created a three-year robust plan system to help prospective partners get started. We know that starting a new business or buying a business can easily be overwhelming, there is so much to do, where does one even start? What should you do first? We remove the guesswork, so that you have a formula to follow till a deal is secured and business established within communities. Our believe is that before the end of the three years support period, the foundation would have been laid and businesses would have been created.
  • 6. 6 • The Entrepreneur Social entrepreneurs work incredibly well in solving inadequacies in countries and proffer solution to solve community-based problems. They create positive changes in society through various initiatives driving social cohesion and inclusion, sustainability, and improvement in nations PESTLE issues, this includes proffering solutions to Political, Economic, Social, Technological, Legal and Environmental Factors through social enterprises. There is no better time than now, that Social entrepreneurs are needed to help serve the most vulnerable across nations and introduce remedies to problems on the ground, with available business models on our platform, we can help revitalize the sustainable development agenda and build a more resilient, inclusive future. The Social entrepreneur is a special breed, they dedicate time to the practice of responding to market failures with transformative, financially sustainable innovations aimed at solving social problems. This individual can see beyond the problems or shortfall in societies and nations and identify opportunities to create, introduce and establish opportunities and community social, economic, and environmental solution to help humanity and mankind. This person also appreciates the value of solving critical social problems. By introducing and establishing viable solutions in respective communities, new markets and gaining a broader market share of customers. Entrepreneurs registered on our platform will not be dependent upon the success or failure of creating a business or operating the business alone, but will have a more stable platform in which to partner with owners of successful global companies and establish sustainable, formidable companies in respective communities and location. It is estimated that there will be 1 billion new consumers entering the global market by the year 2020, and the smart entrepreneur will go after those consumers in identified markets that have been planned and well- thought out. Entrepreneurs trained on our platform will constitute a new breed of entrepreneurship that exhibits characteristics of nonprofits, government, and business, including applying to social problem, solving traditional, private-sector entrepreneurship’s focus on innovation, risk-taking, and largescale transformation. The World economic forum in partnership with the Schwab Foundation host a Social Entrepreneurs’Summit annually, bringing together business and Government to commit on improving the state of the world. They place high priority on social entrepreneur as compared to other vices and with the world facing incredible societal challenges and needs, social entrepreneurial acts as an engine of innovation, job creation, and economic growth. According to Stanford Social Innovation Review, “Social entrepreneurship is vital to the progress of societies.
  • 7. Social Entrepreneurship: Can perform the following task, they help Private Sector/Businesses Utilize markets to exchange goods and services for profit, drive productivity and innovation. They work with Public Sector/Government in responding to market failures by providing public goods and services or through redistribution and Lastly, by Voluntary Sector and Nonprofits sector. Social entrepreneurs engage individuals in action to achieve social goals. A nexus between Private Sector/Businesses, Public Sector Government, Voluntary Sector Non-profits help produce the upspring and strengthening of Social Entrepreneurship. Social entrepreneurship may take the form of a nonprofit, business, or government initiative. For Example: Private-sector companies have begun competing in fields such as education and social services, giving such companies opportunities to provide services that were once considered core government activities. Government agencies are ceasing to work as monopolies, and instead are relying on nonprofit and private service providers that are managed through contracts and the allocation of grant funds. For the nonprofit sector, pressures are growing to fill gaps in public service delivery, ensuring that citizens can get the services they need even when government is unwilling or unable to provide it. If they are to provide essential services, nonprofit leaders are striving for sustainability to ensure that they will continue to be able to meet the needs of the populations they serve. Non-profits adopt outcomes-driven approaches to funding and face demands for accountability. 7
  • 8. 8 Corporate social responsibility movement is the norm for businesses, motivating businesses to account to their community or improve their images, gain marketing advantages, or altruistically benefit society. Corporations have demonstrated a growing interest in volunteer and philanthropic opportunities. Like business, social entrepreneurship utilizes markets to drive innovation and productivity. Like government, social entrepreneurship responds to market failures by providing public goods and services. Like nonprofits, social entrepreneurship engages individuals in action to achieve social goals Each sector now interwoven and social entrepreneurship may take the form of a nonprofit, business, or government initiative with public sector introducing competitive sourcing initiative, market competition and many nonprofits developing business-like ventures to generate revenues.
  • 9. 9 What Is Social Entrepreneurship Social entrepreneurship, then, is the practice of responding to market failures with transformative, financially sustainable innovations aimed at solving social problems. – WE WILL BREAK THIS DOWN AS WE PROCEDD IN THE LECTURE
  • 10. 10 How Did It All Start Social innovators that changed the social landscape in the 1800’s include Florence Nightingale and Horace Mann, they are social entrepreneurs because of their work in nursing and public education. Social entrepreneurship emerged just over two decades ago in the United States. In 1980, Edward Skloot created a consulting firm helping nonprofit organizations. In 1983 Harvard Business Review article coined the term “nonprofit entrepreneurship”. In 1981, private-sector consultant Bill Drayton founded Ashoka, connecting the public to social entrepreneur. In 1985, Management expert Peter Drucker’s book Innovation and Entrepreneurship described the dynamic nature of entrepreneurship. In the early to mid-1990s the term, social entrepreneurship was introduced to academic, research and material written for the public. Social entrepreneurs are creative thinkers, continuously striving for innovation, which can involve new technologies, supply sources, distribution outlets, or methods of production. Innovation may also mean starting new organizations or offering new products or services. Innovative ideas can be completely new inventions or creative adaptations of existing ones.
  • 11. 11 Components of Social Entrepreneurship. (1). Response to Market Failures - The social entrepreneur’s value proposition of targeting an underserved, neglected, or highly disadvantaged population that lacks the financial means or political clout to achieve the transformative benefit on its own. Three different types of approaches that social entrepreneurs take in targeting beneficiaries and responding to market failures Social Entrepreneur Path. Social-Entrepreneurial Approaches to Solving Social Problems Approach to Market Failure No- Market – This is particular to Government agencies or nonprofit organizations. No earned revenues are obtained from the beneficiary to sustain the initiative by the Social Entrepreneur. Most commonly, no-market approaches take the form of government initiatives or nonprofit organizations. Limited Market – Particularly for Nonprofit organization, clients have some ability to pay, earned revenues can be received from the beneficiary to sustain initiatives.
  • 12. 12 Low Profit Market – This is meant For-profit companies or nonprofit organizations. The beneficiary has the potential to pay the full cost while solving the social problem and thus has the potential to generate a profit. The market may be initially underdeveloped, they eventually develop to profitable enterprises. (2). Transformative Innovations – The process of Social Entrepreneurs having initiatives with potential for transformative social innovation on a local, national, or global scale. Social Entrepreneurs here, are creative thinkers, continuously striving for innovation, which can involve new technologies, supply sources, distribution outlets, or methods of production. Innovation may also mean starting new organizations or offering new products or services. Innovative ideas can be completely new inventions or creative adaptations of existing ones (3). Financial Sustainability - Social Entrepreneurs utilize business-like productivity and efficiency measures to determine their capture and use of resources. Although financial modeling is not truly defined within the social entrepreneurial space, but for transformative solutions to be effective, financial sustainability is essential. For example: (cost-benefit analyses, return on investment, organizational performance report
  • 13. 13 Let us Look at two components of Financial Modeling. Nonfinancial resources – These are made up of volunteer workers, with funding generated mostly by donations to sustain the financial steam of the initiative. Predictable revenue sources – They provide predictable funding, despite conditions of market failure. designed specifically for revenue based, customer fee and performance-based ventures and initiatives, this helps provide predictable funding. These revenue source depends on the business model used in addressing market failure and social issue. (A). No Market Approach - Created venture can operate using a long-term, repeat, and performance-based funding sources or earned income model in receiving payment from the direct beneficiary or Build an alternative to receiving income from a target beneficiary into the model for addressing the problem – Example: RSVP San Francisco https://www.bing.com/search?q=RSVP%20a%20San%20Francisco-based%20government%20initiative&qs=n&form=QBRE&sp=- 1&pq=rsvp%20a%20san%20francisco-based%20government%20initiative&sc=4-48&sk=&cvid=593642FB207743EC8F43B4A4EC4B4780 – ( do a small presentation on it and let participants comments and bring up suggestions). (B). Limited-market approaches – Follows same funding source as above. – Example: TROSA (https://www.bing.com/search?q=TROSA&cvid=dcf07f506c97422a8139e37a632b7fb9&pglt=803&FORM=ANNTA1&PC=HCTS) -( do a small presentation on it and let participants comments and bring up suggestions). (C). Low-profit-market approaches – Income generated from beneficiary with capital sourced from socially motivated investors DON’T READ:( They are willing to accept below-market returns, or wait for profits while the market is developed, in exchange for social impact) – Example: Outside The Classroom, acquired by EverFi (https://www.bing.com/search?q=EverFi)&cvid=e457d88978454ea089ff663c74ae4e7b&pglt=803&FORM=ANNTA1&PC=HCTS) - ( do a small presentation on it and let participants comments and bring up suggestions). Entrepreneurs on our platform building social enterprises and adopting no-market, limited market, and low-profit-market approaches can address these problems while striving for what can be considered a different kind of profit: the generation of new and transformative solutions to the world’s most pressing social problems.
  • 14. 14 • Mission and Vision Creating own social enterprise or partnering with established social entrepreneurs and proffering solution to financial, social, and environmental well-being of communities takes considerable planning, commitment, and focus. As entrepreneurs, more so social entrepreneurs, goal, and values of the business must be clarified and documented. The would-be entrepreneur must set a vision for owned, partnered, or acquired enterprise. It could be a small community project or a country wide business initiative. Either a country sales representative, global partner or part of the international team, the vision need to be formulated based on the actual business initiative. The vision statement sets the direction for the enterprise and helps gives direction to, where do we want to go with the business. Getting a business established requires the creation of a mission statement. A well- thought out and crafted mission statement, ensuring everyone understand what it is the company does. The mission statement helps clarifies the purpose of the organization, creates a success path, and drives the decision-making process. Entrepreneurs are required to formulate vision, mission, and core values statements. By focusing your direction, it will make it easier for the entrepreneur to plan, set the foundation and get required results. Don’t worry, if you are new to entrepreneurship, with time as you learn and make progress in this course, you will expand your industry knowledge base and it will be easier to define what it is you will do and plan to accomplish. Let us look at some sample of vision, mission, and core values statements to help you create desired statements.
  • 15. 15 Mission Statement Mission statements gives a description of what your business is all about and your target audience category. In effect mission statement helps show how your company will go about realizing the vision detailed in your vision statement. As a social entrepreneur, it simply helps you best articulate, how your business will achieve its social purpose. The hint to it is that Mission statements need to be concise and to the point. Normally a sentence or two is required. The most important thing is to focus your mission on the activity or activities that are most important in making the companies vision a reality. For example, the socially conscious computer dealership's mission statement could be, "To provide safe, affordable, and environmentally friendly computer and peripheral products to today's informed consumers."
  • 16. 16 Vision Statement This relates to the outcomes and result required. For example, a computer shop might create a vision statement describing their goal to become the largest computer retailer in the northeast. But social entrepreneurs take the "desired outcome" concept a step further by including articulating the noble cause that brings meaning to their work and describing the social benefits they hope to achieve through their company. So, if the computer shop were owned by a social entrepreneur, the vision statement could say, "To become the largest computer retailer in the northeast by promoting environmentally-friendly products and practices.“ Core Values Core values are the heartbeat of social entrepreneurism. They help elaborate on the business beliefs and give a clear understanding on what the organization and business owner stands for. As Social entrepreneurs, value statement and social commitments should be core in a socially minded company but must contain business value alongside to reflect the business operation side of the social enterprise. 16
  • 17. EXERCISE 1: Now, use the space below to jot down a few notes and start creating your mission, vison, and core values Mission: Vison: core values: 17
  • 18. 18 • Dispelling a Few Myths Through your research and time that you have spent in trying to learn how to start a social enterprise business and be part of this industry, you have probably discussed, sought advice, gone through brainstorm session, browse through many websites and sourced information both online and offline. Some sources and claims are probably reputable and true, whilst some are probably not with false information. Presently, Social entrepreneurship is making major stride across the world, even though many myths and misconceptions exist. We are going to fact check a few of the popular claims that we have come across. Social Entrepreneur are not focused on business development and strategy. Ventures created are not for profit. TRUE FALSE
  • 19. 19 This is a well-known and widely spoken about myths, that social entrepreneurs create ventures for non-profit purpose. The truth about it, is that you are either both or neither. Entrepreneurs operating profit and non-profit ventures need a profit stream. The for - profit wants to build a successful business and make loads of money, whilst the not-for-profit requires finances for services offered, funds to keep staff employed and successfully carry out all administrative and operation task of the venture. The success of either for-profit or not-for-profit depends largely on a well-articulated business plan to build a viable business, this involves planning, management focus, due diligence, day-day business operation and tools, all this requires a robust financial model to pay for services received, expenses on business operation and build multiple income generation stream. Except, perhaps your non- for- profit organization are designed strictly for charity causes. Social entrepreneurs are social impact laser focus and don’ t care much about income generation. TRUE FALSE
  • 20. 20 Social entrepreneurs are change agent, innovators and they help communities improve their quality of life and help proffer solution to community challenges in various demanding areas like, education, poverty alleviation, health care, environment, they also help with PESTLE issues (political, economic, social, technological, legal and environmental) and so on. As you can see, social entrepreneurs help shape society positively, they create distinctive, wide-ranging, sustainable services, products, technology and techniques that provide remedy to the most challenging and discomforting society problems and in-order for this innovations, ventures and changes to remain sustainable, they must also make PROFIT!. In a nutshell Social entrepreneur enhancing social wealth local and globally, MUST generate FORTUNES for THEMSELVES! Social entrepreneurship is a waste of time, created social enterprise are not scalable FALSE TRUE
  • 21. 21 All enterprise regardless of category require various factors to scale up their business, how well they implement them determines their level of scalability, entrepreneurs must clearly understand the community and ecosystem they are planning to operate in, conduct business validation and have a model that can produce repeated sales and efficient delivery process that gets even better with added customers, develop strategy that will help you grow on revenue, partner with customers and community groups and take the last resort of raising outside funding, equity financing or sourcing venture capital funds. Social entrepreneurs are focused on doing good and are not real entrepreneurs. FALSE TRUE Yes, they focus on how to make the world a better place and they do a good job at it, over the few years they are transforming in to mainstream entrepreneurship, creating social initiatives, but yet facing failures like entrepreneurs, market challenges, difficulties with customer acquisition, getting finances, most social entrepreneurs make headways same way like their counterpart entrepreneurs, through the use of expertise, knowledge, strategy and being persistent, engaging people and generating million of dollars. All social entrepreneurs need to do is showcase the good side of their business and not push on generating income. FALSE TRUE Social enterprise addresses social needs through products and services and their employees help aid earned revenue flow. They require resources to implement strategies and programs, this income are utilized in addressing financial obligations and making substantial turnover. Showcasing your good deeds, ideas and projects can help create awareness and a push to do more but the resources and the support to do it comes from capital. 21
  • 22. 22 • Getting Started Every individual or company has defined their reason and purpose for venturing into Social entrepreneurship. Remember that every community as a social, economic, and environmental challenge and social entrepreneurs help through the creation of enterprise, product, and services in alleviating such plight, there are two sides to the transaction. We hope that the services you receive from Brands and Communities will exceed your expectations. You can always contact us, anytime, and we want to help you with questions or any issue you may encounter. Please do remember that while we are here to assist and advise you, ultimately, this is also your business and you will get out of it what you put into it. Please remember that you need to focus on the program. The most successful social entrepreneurs on this course will look to the time spent on this training as no different to the time spent on setting-up and running their enterprise business. You must stay focus and act daily to move up progressively on the training course, matchmaking process and the support phase and even beyond when a business deal has been made. Participants must set aside time and be consistent on this program. Best wishes on your journey into the world of social entrepreneurship – We sincerely do hope that you achieve your entrepreneurial potential.
  • 23. Thank you for watching 23