+ Social
Entrepreneurship
101
For Goodness Sake! Session 008
December 16, 2012
Friends of Ebonie
Social Entreprenuership 101| Friends of Ebonie
Promotional Partner:
+Guest Expert: E lkhair Bal la H I V / A I D S A w a r e n e s s A c t i v i s t , P u b l i c H e a l t h A d v o c a t e , S m a l l B u s i n e s s O w n e r
Social Entreprenuership 101| Friends of Ebonie
COO & co-Founder, b condoms Harlem, NY by way of Lansing, MI Alum of Morehouse College Features include: ABC News, The New York Times, EBONY.com, clutch online, and VIBE
+Guest Expert: Felecia Hatcher P u b l i c S p e a k e r , A u t h o r , S m a l l B u s i n e s s O w n e r
Social Entreprenuership 101| Friends of Ebonie
Founder, Feverish Ice Cream & Gourmet Pops Resident of Miami, FL Alum of Lynn University Fell on her face in heels & started making ice cream Features include: NBC News, TEDex presenter, White House Top 100 Entrepreneurs under 30, Essence & Black Enterprise
+Social Enterprise vs. Non- Profits
Social Enterprise Non- Profit Common Good Common Good
Specific Cause Specific Cause
Commercial Sales = Revenue Driver
Grants & Fundraising = Profit
Maximizes Business Strategies Maximizes Organizational/ Programming Strategies
Primary Filing: Corporate Filing Primary Filing: Non-Profit Status
Social Entreprenuership 101| Friends of Ebonie
+Part II: What Makes A Social Entrepreneur & Social Enterprise
Social Entreprenuership 101| Friends of Ebonie
+ Identifying Your Cause
Social Entreprenuership 101| Friends of Ebonie
1. Work life balance
1. When you truly live and work within your passion it’s easy!
2. Felecia’s 3P’s:
People. Planet. Profit.
• Start with what you have and where you are and branch out from there.
• Her Cause: PopPrenuers
• Youth unemployment issues directly relates to the crime, teen pregnancy and poverty issues here
• Started with what they knew: popsicles.
+Putting The Social Into Your Business
Social Entreprenuership 101| Friends of Ebonie
1. Social missions should be incorporated into business plans from the onset.
2. Social enterprises should: • Have the community focus in mission
statement • Be explained in the elevator pitch
about your company 3. Simpler the explanation of your social enterprise the more powerful it is. !
+ Hello Investors!
Social Entreprenuership 101| Friends of Ebonie
WHO? • Its always best to start with family and friends. • Always remember that investors need to excited about your
business too! !
WHY? • Social impact investors are very unique • Very shrewd business people who believe impact can be
measured with social good. !
• Investors want to know they will make their money back, get the proper return, and know they also contributed to a company that is socially responsible.!
WHAT YOU NEED TO DO: • Make sure the business model is sustainable and healthy • Profitable + A broader good.
+Why Scalability Matters
Social Entreprenuership 101| Friends of Ebonie
• A Traditional Business Practice relevant in
Social Enterprise & Non-Profits
• What to ask yourself: • Will I keep my business or will I sell it?
• Run your business as if you are going to sell it
• Put systems in place to scale up and scale out and mobilize
• Know Your Impact Capacity • Could your NP be great in other areas of
the US or even internationally? • Are you equipped to work past your area
of impact?
+Small Business Resources
Friends of Ebonie: http://www.friendsofebonie.com/toolsandresources b condoms : http://bcondoms.com Felecia Hatcher : http://www.feleciahatcher.com/ Wells Fargo for Black Business Owners: https://www.wellsfargo.com/biz/women_diverse_business/african_american/ Best States for Black Business Owners: http://www.huffingtonpost.com/2012/07/23/best-states-black-owners_n_1696402.html SCORE: www.score.org/ Social Enterprise Alliance: https://www.se-alliance.org/
Social Entreprenuership 101| Friends of Ebonie
+Stay Connected Friends of Ebonie | Enthusiasm for Giving & All Things Good
www.friendsofebonie.com
@FriendsofEbonie
www.facebook.com/friendsofebonie
Social Entreprenuership 101| Friends of Ebonie