Skip to content

RIC04 How a Social Entrepreneur Ticks

banner-1

“Social entrepreneurs have a split personality—and I do mean it in a good way. One moment we are Mother Theresa, and the next moment we are Richard Branson. I can say that with gusto because I was one 10 years ago”. - Alfie Othman, raiSE CEO

1. A Clear Conviction

Successful social entrepreneurs are driven by an unwavering commitment to social impact. This conviction fuels their resilience, ensuring that their mission remains at the core of their business strategy. Their intentionality is reflected in their operations, decision-making, and ability to overcome challenges while continuously learning from those who have paved the way before them.

2. Resilience Through Challenges

The path of a social entrepreneur is rarely straightforward. Challenges and obstacles are inevitable, but a resilient mindset transforms these into opportunities for growth. Whether refining personal capabilities or innovating new solutions, resilient social entrepreneurs adapt, persevere, and find ways to navigate setbacks.

3. Innovation & Adaptability

With strong conviction and resilience, social entrepreneurs reimagine possibilities and find creative ways to achieve both financial sustainability and social impact. By continuously adapting and innovating, they develop business models that not only serve communities but also remain scalable and sustainable in an evolving market.

the social space founders

How to Embody the Characteristics of a Social Entrepreneur

Social Entrepreneurs may come from diverse backgrounds and experiences (medical specialists, bankers, lawyers, educators, therapists, engineers, creative consultants etc.). But what unites them is the fact that they don’t turn a blind eye to social gaps. Instead, where others may see problems, social entrepreneurs see opportunities. They innovate and explore potential business solutions to address these social gaps. Here are some ways that you practice developing the mindset of a social entrepreneur.

1. Choose Curiosity

Often when we look at a problem, we apply our own experiences, or anecdotal knowledge to trying to address it. However, opportunities come when we apply curiosity to approach with a fresh perspective. What are you noticing, hearing, or seeing from the individuals that you are committed to serve?

Our assumptions, or preconceptions may limit our ability to hear or observe the true areas of opportunity for innovation. This curiosity could lead to more effective solutions, a new pivot to your business or redesigning the impact creation, that might support a more sustainable and effective idea.

2. Be Open to Fail and Iterate

As social entrepreneurs, much of the time is spent creating strategies and plans for the business. However an equal importance is creating room to test hypotheses, prototypes, and early ideas. Ensure that there is always time set aside for testing these plans, and keeping an open mind to iterate on what you have built. A continued approach of testing ideas and refining them will ensure that the ideas, in the form of products and services would succeed in their intent.

Like any startup, Social Enterprises seek to start small, fail fast, and incorporate their learnings to refine their offering.

3. Embrace Ambiguity

Provide yourself permission to say “I don't know” or “I’m not sure if this works”. This allows yourself time to explore the challenge being faced, and potentially reach out to a mentor, or a fellow social entrepreneur who may have overcome a similar challenge. This keeps a social entrepreneur open to innovative ideas rather than seeking quick solutions.

4. Cultivate a Support System and Create Conditions for Success

Develop your support system that will spur you forward in your social entrepreneurship journey. Prepare yourself for the challenges of social entrepreneurship by creating conditions supportive of your journey. For some it could be family support, and for others it could be a mindfulness routine. A business is as sustainable as its leadership is.

5. Develop Networks and Partnerships

The journey of a social entrepreneur is not a unique one, and it is a path that many have journeyed through. Through the various setbacks and challenges being faced, you can find someone who can support you in navigating that journey. Look towards resources, connections, and people you would need to make your Social Enterprise succeed.

Begin Your Social Entrepreneurship Journey

Every social entrepreneur's journey is different and there is no one-size-fits-all approach to success. As you may realise, many of these characteristics or approaches are ways you might set the context for success. As you build your foundations for your Social Enterprise, ensure that you develop a strong network and a community that you might tap into.

We provide opportunities for you to learn and sharpen knowledge through exposure to the raiSE ecosystem, the raiSE network of Social Entrepreneurs and social enterprise advocates.

WATCH: Money Mind: Social Enterprise - Making A Difference
Can toys help differently-abled people find jobs?

Featuring raiSE Social Enterprise Member: Inclus

Continue your raiSE Impact Community Journey

If you are part of the raiSE Impact Community, we have designed a 7-step journey that would guide you towards strategic incorporation of social impact in your business.

Comments