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Social Enterprise, Entrepreneurship and Innovation v2013

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Brian Smith

on 17 February 2014

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Transcript of Social Enterprise, Entrepreneurship and Innovation v2013

Definitions
Entrepreneurship Ecosystem
Tenets
Social enterprise is a different way of doing business.

A social enterprise is a business that trades for a social purpose.

The social aims of the business are of equal importance to its commercial activities.

Like any business, a social enterprise focuses on generating an income through the sale of goods and services to a market but the added value of a social enterprise comes from the way in which it uses its profits to maximize social, community or environmental benefits.
Who's doing it
Innovation
Business Model Generation
Choosing your
vehicle

Case study:
Case study:
Speed dating
aka networking

Myth #1:
Starting a social enterprise requires minimal investment.

Myth #2:
Current staff already have the skills needed to run a social enterprise.

Myth #3:
People will buy from us because our cause is important.

Myth #4:
Reduced profit-motive + no extra costs = competitiveness.

Myth #5:
If it is not working we will know.

Myth #6:
Scaling up will be easy.

Myth #7:
This will take care of our revenue and we will never have to fundraise again!

Myth #8:
Non-profits can’t make a profit.

Myth #9:
Our program staff/services will get along with our enterprises because everyone is working for the same mission.

Myth #10:
We have a Board champion, that should be enough.
Strong entrepreneurial team

Supportive and engaged Board

Fit with overall goals

Thorough planning and dev’t process

Compelling, even tested, market opportunity

Unique competitive edge

Adequate financial controls and tools for planning cycles

Long-term and sufficient financing

Commitment to sound business practices

Tracking metrics to assess business, economic and social impacts
Success Factors
Myths
Day Two
Business Planning
Business Models
Pitch prep
Funding and Financing
Measuring Impact
Dragon’s Den Presentations
Wrap-up
5 groups of 3, begin work on a Social Venture to pitch….

1. Pick a problem to address

2. Brainstorm assets to build on

3. Imagine a social enterprise

4. Create simple elevator (2-3 minutes) pitch
Dragon's Den
Prep

10 am Break
12pm Lunch
3pm Break
Reflections
1. 3 min pitch + 7 min feedback

2. Switch and repeat every 10 mins
Leadership
Business
Planning

10:15 am Break
Social
Enterprise, Entrepreneurship and Innovation

Wrap-up
Myths, etc.
Funding &
Financing

Pitch Prep
Dragon's
Den

12pm Lunch
3pm Break
Ashoka
Skoll
Community Futures
Renewal Fund
Social Impact Bonds
Credit unions
Unreasonable Inst
Community Futures
Crowdsourcing
Social Impact Bonds
Echoing Green
Angel investors
Community Futures
Social Impact Bonds
Credit Unions
Gov't (?)
Philanth's
Other sources
Key Elements:
Business Plan
Non-Profit
Non-Profit with Charitable Status
Co-operative – For-Profit
Co-operative – Non-Profit
For-Profit Corporation
For-Profit with Limited Financial ROI (CCC)
Partnership
Demonstrating
Value
Business Description
Operations Plan
Human Resources Plan
Financial Plan
Marketing Plan
Performance Assessment Plan
Mission Impacts
Defined Objectives
Strategies
Measurements
Organizational Contribution
Mission
Capacity Building
Sustainability
5 Factors:
Social Capital
Partners
1 – Make an impression

You only have one chance to make a first impression. Get their attention. Get them excited. Don’t overdo it though. It’s easy to be more style than substance if you’re not careful.

2 -Rehearse

This one is a no-brainer. We’ve all seen people dry up in excruciatingly embarrassing style on Dragons Den. So to make sure it’s not you next time – practice, practice, practice. Rehearse in front of a group. Know your figures inside out, and if you’re demonstrating a product make sure that nothing can go wrong. Prepare for every eventuality. Then take a sip of water, stand up straight, take a deep breath and begin.

3 – Don’t Offend Your Audience

Be polite. Listen to feedback. Don’t be over-confident (i.e. arrogant). Don’t offer business lessons to people who are clearly more successful than you are.

4 – Be Passionate

If you don’t believe in your product then it’s unlikely the person you’re pitching to will believe in it either. But it’s a tricky one to get right. Over-enthusiasm can result in putting off your audience and make them think you can’t separate what’s going on in your head and heart.

5 – Be honest and credible

Don’t try to be something you’re not. Don’t oversell. Be direct. Be honest. Don’t lie, don’t embellish, and don’t wing it. They’ll know. Your future investor must be able to believe in you, and trust you. The second they suspect you’re not being honest with them the deal is off.

So, if you have a solid business plan, and present yourself with these 5 tips in mind, you’re sure to make a good impression at your next pitch.
Assignment
Evaluation
http://cashtostart.com/10-crowdfunding-websites-entrepreneurs/
Fostering Social Innovation
Private Sector Innovation
Principles
Iterative growth - Many models can be seed-funded with less than $20k because we start with a pilot project to begin building the market and test assumptions.

Self-funding - These ventures are decidedly entrepreneurial because they are self-funding rather than external funding dependent.

Socially responsible market scaling - Socially responsible organizations define their scope in ways that make it possible to define their growth as decline after their tipping point.

Customers as contributors - This is the shift from seeing people as needs to be filled and problems to be fixed to seeing people as gifts to be engaged.

Agile capacity building - These organizations follow the shifting edge of market opportunities in markets.

Building community - One of the more salient approaches is to weave social networks within their networks of customers as well as creating more connections between their customers and their communities.

Happiness indicators - These are the indicators such as appreciation, sharing, learning, aliveness, and simplicity. They are used as design principles in crafting the form, feel, and function of the organization relative to all of its stakeholders. These organizations explicitly make the practices of happiness more possible for its customers, staff, and partners.
6 Points of Starling Wisdom

1. Generative relationships: seeking new work, resources, and vision through relationship with unlike others.

2. Emergence: In constant development – never quite arriving at stability.

3. Networked: constantly in touch with the rest of the flock, they know where they are, exactly which part of the sky is theirs, and for how long.

4. Hybridity: organizational forms that are neither one type or another, but combinations.

5. Entrepreneurial: independent and venture seeking: if they cannot finance the work one way, they will find another.

6. Collaborative: an ability to couple with others and then uncouple when the work is complete
Pitch Prep
Learning Objectives

Understand the concepts, values, and applications of social innovation, social entrepreneurship and social enterprise.

Consider the entrepreneur versus the intrapreneur.

Consider the elements and connections that comprise the social enterprise ecosystem.

Explore the relationship between individual, community, social enterprise, the social economy, for-profit business, co-ops and community economic development.

Understand the roles of non-profit organizations, economic development organizations, government, financial organizations, and consultants in the social enterprise ecosystem.

Understand the steps in the development of a social enterprise.

Understand how to measure the success of a social enterprise.

Demonstrate knowledge through an in-class group presentation and a post course assignment.

Learn how to present your idea and provide constructive feedback.
Intros and Expectations Co-created

Expectations for these two days:

Participation that is honest, respectful, communicative and inclusive

Learning reciprocity that includes asking questions AND providing your insights/knowledge/wisdom

What else...?
Pitching

Choose a project you are currently working on or one under development. You need supporters.

In 2 minutes state the problem, state the solution, and make an ask. Be engaging. Tell a story if possible.

Pair up, give your pitches to each other. Give one suggestion for improvement.

Take 5 minutes, refine your pitch. Pair up with someone else and do it again.

Providing Feedback

The sandwich method:
Name one positive thing you observed, name
something that can be improved, name one
more positive thing you observed.

The humour method.
Name a long list of things you observed that are really positive. Long pause, let them enjoy the feeling of adoration. Then say, “Now then” in a jokingly serious way. Then offer one suggestion for improvement.

Other styles of providing feedback?
Definitions

“A social enterprise is an organization or venture that achieves its primary social or environmental mission using business methods. Social enterprises build a more just, sustainable world by applying market-based strategies to today's social problems.” Social Enterprise Alliance (2010)

“Social enterprises are businesses owned by nonprofit organizations selling goods or services in the market place for the dual purpose of generating income and creating a social, environmental and /or cultural value.” Social Enterprise Council of Canada (2010)

What is a Social Enterprise?
Social enterprises are social mission driven organizations which apply market-based strategies to achieve a social purpose. The movement includes both non-profits that use business models to pursue their mission and for-profits whose primary purposes are social. Their aim is to accomplish targets that are social and/or environmental as well as financial: is often referred to as the triple bottom line. Many commercial businesses would consider themselves to have social objectives, but social enterprises are distinctive because their social or environmental purpose remains central to their operation. Canadian SE Foundation

What is a Social Entrepreneur?
A social entrepreneur is someone who recognizes a social problem and uses entrepreneurial principles to organize, create, and manage a venture to make social change (a social venture). Whereas a business entrepreneur typically measures performance in profit and return, a social entrepreneur focuses on creating social capital. Thus, the main aim of social entrepreneurship is to further social and environmental goals. However, whilst social entrepreneurs are most commonly associated with the voluntary and not-for-profit sectors, this need not necessarily be incompatible with making a profit. Canadian SE Foundation
The Panarchy Cycle is Self-Similar. It repeats itself on many Scales. The higher the scale the bigger the impact and the slower change takes place.

The Scales are interconnected. A huge disturbance on a lower scale (Revolt) can have an huge impact on a higher scale when both cycles are moving into the Release State.

A Slow moving High Level Cycle can help to restructure a fast moving cycle by providing the template of the way the components were originally assembled (its CommunityDNA) (Remember).
social networks display features of social complexity with patterns of complex connections between elements that are neither purely regular nor purely random (see, complexity science, dynamical system and chaos theory), as do biological, and technological networks.
American vs Canadian
Human Systems Innovation
Social Entrepreneur:
Muhammad Yunus
Social Enterprise:
Grameen Bank
Social Innovation:
Microfinance
Social Entrepreneur:
Muhammad Yunus
Social Change
Social Enterprise:
Grameen Bank
Social Innovation:
Microfinance
"Social Innovation is a novel solution to a social problem that is more effective, efficient, sustainable, or just than existing solutions and for which the value created accrues primarily to society as a whole rather than private individuals."
Stanford Social Innovation Review, Rediscovering Social Innovation, By James A. Phills Jr., Kriss Deiglmeier, & Dale T. Miller, Fall 2008
Full transcript