“Social entrepreneurship is not content just to give a fish or teach how to fish. They will not rest until they have revolutionized the fishing industry.” – Bill Drayton
Social entrepreneurship works as a revolutionary change in the business world. It is a perfect blend of social issues and commerce. This concept isn’t just limited to making profits but to address the different challenging circumstances of society. It defines how businesses add to the world while bringing new earning sources to the table.
Some of the most common types of social entrepreneurship ideas include –
- Educational travel
- Micro-lending
- Crowdfunding
- Technology project adding to the world’s business
- An intuitive and cooperative marketplace to indulge in
- Several employment services
- Housing and development ideas
- Fair-trade goods
How to pick a perfect social entrepreneurship idea for your business?
- Evaluate the gaps – Understand the different factors adding to the business gaps, and learn how these gaps can be filled with new ideas are. For instance – if you are working for a food pantry that can’t preserve the food and serve it freshly, change your time bounds of delivering food to the sources. This will help you serve fresh food to the deserving communities in society.
- Understand what you are enthusiastic about – Until you are not of what you want to do, you can’t reach a destination. Find out what you are interested in. Faith Based Cause Initiative prefers to go for a domain you are proficient and knowledgeable in. This will help you reduce the number of efforts and time-consumption from your end.
- Work on a business model – Once you have made your mind to go for a particular domain, make a detailed business model but not like a non-profit organization’s. Find and jot down the different ways to monetize the business idea and then choose a business model accordingly. Be it a cross-compensation model like TOMS or a market connector like Uncommon Goods, make sure to structure the business model well.
- Evaluate your skills and strengths – Do you come from a strong IT background or have sales experience? No matter what it is, evaluate, understand, and use it well in your social entrepreneurship idea for the best results.
Some of the most popular social entrepreneurs are –
- Muhammad Yunus
- Jazzmine Raine
- Vava Angwenyi
- Scott Harrison
- Emily Kirsch
- Durell Coleman
FBCI wishes you good luck and wishes you touch the new heights of success as the social entrepreneur of the present age.