Although we’re living in unprecedented times and every path is unique, we found that some lessons come in handy over and over again. News and stress about the coronavirus from around the world are creating significant uncertainty among leaders, employees and customers. Beyond common sense measures, we wanted to provide a list of practical tips, tactics and strategies to help you make quick and needed decisions to help you navigate through these stormy times.
Pandemics like the H1N1 influenza of 2009 have not only set the stage for novel approaches to public health concerns, but have joined the global financial crisis in welcoming new entrepreneurial activities that address both economic and societal concerns. The outbreak of COVID-19 is affecting our lives as social enterprise founders, managers, funders, and volunteers—and it will continue to do so in several ways.
Where social entrepreneurs and social impact workers have been aware of systemic inequalities that have existed for decades, the emergence of coronavirus has made these clearer for the rest of the world. COVID-19 has presented the world with a new look at how individuals or certain groups are exposed to health crises, food shortages, job insecurity, and more. It is becoming increasingly clear outside the social enterprise sector that social impact entrepreneurs and companies are needed in this space.
Life has changed for many of us over the past several weeks. We’ve had to acclimate to Zoom meetings, spending the day in our pyjamas, and workspaces surrounded by kids, clutter, and distractions. What could this mean for our social impact?
Whether within local communities, nationally or globally, social entrepreneurs are dogged changemakers who put the needs of the ordinary citizens above financial gains but understand the need to be financially sustainable to scale their solution to more people. While a lot is known about what it takes to run a successful for-profit business, little is known about how a social changemaker navigates life as a business person.
Attracting impact investment requires not only your evidenced theory of change and impact measurement, but necessitates a robust, sustainable business model. One way to do this is to check your business plan and pitch deck against the 5 classic C’s of lending.
The goals of making a living and making the world a better place no longer need to be at odds. Here’s how businesses are succeeding by choosing to do good.