Making a Profit While Making a Difference

Social entrepreneurs aim to make a profit while also solving problems in society, whether that’s high teen pregnancy rates, pollution, climate change, or helping to save endangered species. Social entrepreneurs know that business people cannot keep enjoying golden eggs for a long time if they insist on killing the goose.

A social entrepreneur needs to think outside the box as often as possible. One way of doing this is by shifting their thinking from ideas that focus only on serving customers, to ideas that serve government or business. For instance, almost all governments are trying to reduce dependency on dirty fuels by international agreements. Therefore, you might start a business that helps the government to provide clean fuel.

If you are already running a successful business, but you are struggling to think of a way of adding a social element, you can decide to help protect the environment or give something back to the community. Although simply donating some of your revenue to charities is not exactly social entrepreneurship per se, it has the same effect. Letting your customers know your business donated a certain percentage of your earning to a worthy cause, you can increase sales. Given a choice, people are more interested in spending money with socially responsible businesses.

References

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