Just as any business has to niche their market, social entrepreneurs must niche their impact. While the UN Sustainable Development Goals are a great framework for thinking about development, not many social enterprises can “wipe out global poverty.”
Mentoring for Impact
A lack of focus on specific, achievable impact goals can dilute the effectiveness of the entrepreneurs. Thus, the principles of social impact, that the mentor should follow are:
Mentoring for Leadership
If you hope to scale your impact, and therefore your business, at some point you have to multiply your efforts by leading others. Then, communicating, coaching, creating culture and the following key skills start to take precedence over technical know-how.
Mentoring for growth, strategy and innovation
A social business is, in the end, a business. Businesses survive and thrive from sustainable, profitable growth. This can be achieved by strategies for innovative and sustainable business models and revenue streams. Some nonprofits are doing well and doing good. And yet, they must grow a sustainable source of funding to create an impact. So, in a sense, money and mission are never totally detached.
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