• What Is A Social Enterprise?
• Why Are Millennials Shifting To Solving Social Issues?
• What Kind Of Impact Are Social Enterprises Having?
• To Start-Up A Social Enterprise: A 7-Step Formula
• Ways Social Enterprises Can Reach More People?
• How Does Content Writing Help Social Enterprises Better Educate People?
• Who Can Help Social Enterprises Craft The Right Content?

What Is A Social Enterprise?

Although traditional companies and social enterprises both find solutions to problems, social enterprises typically look to serve broader audiences/agendas and may even look beyond profit. 

But just like traditional businesses, social enterprises can affect things on a community scale and even on a global level!

So you now know how social enterprises differ from traditional private companies.

But it raises the question:

How do social enterprises differ from nonprofits?

Here are some key differences between the two:

Nonprofits typically acquire funds through fundraisers and donations from people that support the cause. 

A good example would be the Coalition to Stop Gun Violence (CSGV) and The Good Fight Foundation. 

On the other hand, social enterprises typically sell a product or service that benefits a group or environmental agenda to make revenue. 

You’ll typically find that social enterprises have to market themselves well and implement textbook business practices to succeed. 

Here are some examples of what social enterprises do:

• Providing housing to the less fortunate 
• Opportunity employment (Helping people find work)
• Environmental sustainability causes (selling a product that helps the environment)
• Coffee shops that give a percentage of sale proceeds to coffee farms

Why Are Millennials Shifting To Solving Social Issues?

Well, if we compare different generations, we can find an answer. 

The generation before millennials (Generation X) grew up learning the power of independence and were just at the cusp of developing technology. 

Millennials, on the other hand, were closer to technology and saw it all around them. 

And this exact technology was changing…FAST. 

And the truth is?

Technology, fast-paced news, and social media have brought social issues to the forefront.

With millennials (and Gen Z, for that matter) growing up digitally connected — they’ve seen countless social issues and environmental problems brought to their awareness. 

This creates a sense of community obligation, aid, and a thirst to find solutions!

This doesn’t even include events that could have affected the millennial entrepreneur’s life growing up and their world view…things like:

• Systemic inequality and inequity
• Wealth gaps 
• Inadequate housing 
• Low-incomes

This is why millennial entrepreneurs like Erica Wenger are emerging. She grew up around strong women and believed that it was essential to empower them.

In her TedTalk, Erica spoke about how she first wanted to help disadvantaged women get the right feminine hygiene products in exchange for littered cans on the street. 

However, she soon changed her approach when she found out that food was more important to these women. 

The reason being was because standard convenience stores wouldn’t let these disadvantaged women in, even if they had money. 

As a result, she worked with recycling centers to open convenience stores in their facility so that these women can buy food after exchanging their cans for money. 

What Kind Of Impact Are Social Enterprises Having?

When thinking about social enterprises — whether you’d like to know more about them, you’re building one or are thinking of doing so:

It’s vital to think of the impact they have on people and the world at large. 

Here are some things social enterprises bring to the table – they:

• Help unite communities 
• Empower groups and can improve generations 
• Bring awareness of issues to a broader audience 
• Allow companies to serve the greater good
• Provide sustainable revenue streams to social impact organizations 

How To Start-Up A Social Enterprise: A 7-Step Formula 

If you’re looking to create a social enterprise, here are some key steps to follow.

1. Pick A Cause You Care About

First, you must pinpoint a cause that resonates with you or a known (or not-so-known) issue you want to fix. 

This can be personal to you, like the environment or things related to your community. 

When you’re passionate about a social cause, you’re more likely to do whatever it takes to make a change, making your product or service better and better over time.

2. Research And Find A Solution 

Next is the research and solution. 

This phase is when you start to understand your market and collect knowledge and data on your customers. 

For instance, let’s say someone is starting a social enterprise that sells quality eyeglasses at lower prices and gives 25% of all proceeds to partnered charities. 

They would have to research who their ideal customer is, where they are located and what problems they are facing. 

On top of that, more research on charities centered around eye care that can help market their company!

Along with your research, be sure to speak with knowledgeable mentors and professionals because it’s a great way to find the right solution.

Reason being? 

You’re getting multiple streams of knowledgeable and nuanced perspectives. 

The solution you put together from your research and conversations will be the product or service you bring to market. 

3. Get Clear On KPIs And Goals 

You can’t really go anywhere if you don’t have a destination, right? 

KPI stands for “key performance indicators.” These are the variables you want to influence with your business.

Your goals and KPIs will be what keeps you on the right track. Essentially, every action you take will be in line with what you want your social enterprise to achieve. 

Maybe you have a KPI of a certain number of products you want to sell in your company’s first quarter. 

Perhaps there’s a certain number of lives you want to change. 

Whatever your objective is, being able to set and measure things will go a LONG way. 

4. Create A Business Plan 

With critical information down, you want to organize it into a solid business plan. 

Your business plan is the framework of your whole operation:

1. Executive summary (An explanation of your business)
2. The value proposition of your product or service 
3. How you deliver the product or service to your customers 
4. Market analysis 
5. Sales strategy 
6. Who your partners, employees, and contractors are and what they do
7. Competitive analysis 
8. Financial strategy (How funds will be allocated. Ideal profit margins, and where your bottom-line will be going.)
9. KPIs and goals 
10. Business Forecasts (Monthly, quarterly, yearly, etc.)

Now, does your business plan need EVERYTHING on this list?

Maybe not, but most of these components should be incorporated into it. 

And remember this: 

You can always collaborate with others to help create your business plan. Usually, multiple minds are better than one.

5. Gather Your Team

Putting together a great team does take some trial and error, and if you speak to any founder, they’ll say the same thing!

Be sure to revisit your business plan to see where you need key pieces. 

Perhaps marketing and creating content are important areas, and you need help there.

Or you need someone to be in communications with partner companies or nonprofits you’re working with. 

Having the right people is what helps your business scale. (The truth is, you can’t do everything by yourself.)

Here are some places to look for talent:

• Career sites
• Job boards
• Your network
• Social media (LinkedIn)

Even if you plan on going solo-dolo with your social entrepreneurial venture, you’ll still be using other people’s expertise directly (mentors, professional advice) or indirectly (videos and online gurus.)

These people are still part of your “team,” so leveraging them whenever you can is essential!

6. Get A Proof Of Concept

Now, you want to test your product or service in the marketplace to see how it fairs. 

How do people respond to it?

Are you beginning to make a small change?

Your proof of concept is when you test your solution on a small group of people before going all out on marketing. 

For example, say, you’re selling small water filtration devices to people in areas of the world with poor water quality. 

You can market on a small scale and sell a limited amount of the devices and see if people are interested. 

As you get more “yeses”, it’s clear as day that you have a good product. 

This step is crucial because you never want to assume that EVERYONE is going to want your product. 

A proof of concept validates your solution first, which helps you save money in the long run if you would’ve jumped in headfirst. 

7. Market Your Business To Reach More People

With a team, a proven product, and logistics figured out — it’s now the perfect time to market your solution to the social or environmental problem you care about. 

How Can Social Enterprises Reach More People?

There are many ways businesses market nowadays — here are different ways to market your social enterprise: 

Online: 

• Posting on social media
• Social media ads (Facebook, TikTok, Instagram)
• Google Ads
• SEO and content marketing (Blog posts, content writing, website keywords, Youtube videos)
• Directory listings (Yelp, Google My Business, Foursquare)
• Email marketing 

Offline: 

• Signage
• Shirts
• Business cards 
• Flyers
• Radio
• Newspapers
• Billboards

When it comes to marketing, it’s key to know that people enter your marketing funnel through awareness.

They have to first know who you are; and often, you have to educate them. 

This means talking about your cause, how it helps people at large and why it’s an important issue. 

Out of all the ways of marketing, content writing is one of the BEST ways to educate people!

How Does Content Writing Help Social Enterprises Better Educate People?

Most internet activities begin with a search engine — people always have questions, so that’s where they start!

So, where does content writing come into play?

It’s simple: when you write content related to what people search and ask about — they’re better able to find your content!

On social media, you can share your expertise and educate people on your cause. Tell them why they should care. The more they understand, the more likely they will support your cause and tell their friends and neighbors. 

Who Can Help Social Enterprises Craft The Right Content? 

If you’re a new OR already established social enterprise looking to create consistently great content, The Allyson Group is here to help.

We’re a team of writers that will understand the exact message you want to convey and make it engaging! 

We go in-depth with keyword research to ensure your content uses keywords with good search volume.

Making a social or environmental difference starts with getting the word out!

If you’re ready to improve your brand voice through content, book a call with me today!