What is Social Entrepreneurship All About?
According to entrepreneurial experts, “all entrepreneurship is social entrepreneurship.” Some small businesses work hard for the social good of the company, its employees, even its clients and customers. This can be anything from paying college tuition, to donating portions of sales proceeds to a charity to sponsoring social events for the local community.
What is Social Entrepreneurship?
So, what is social entrepreneurship? In a nutshell, it’s the act of using various business techniques to come up with solutions to social issues. It doesn’t matter the size of the business, or its overall beliefs, aims or visions. If the goal is to help with a current social problem, the company is practicing social entrepreneurship.
Where did the term social entrepreneurship come from? Well, many entrepreneurs here in the US never felt very comfortable with capitalism as a whole. So, they pegged the term “social entrepreneurs”, and the term stuck. It basically means that they practice capitalism, but on a more social level. For example:
- Buy our school supplies, and we’ll make sure local kids have school supplies too.
- Buy our live salt-water fishing bait, and we’ll help save a precious dolphin.
What’s a Social Hook?
Just like a hook within a song or commercial helps you remember and relate to the brand or ad, so does a social hook. It’s the social term or phrase that helps to “hook” others so they feel socially responsible for helping you help your cause.
As a small business, your company is designed around one general thing: Your innovative service or product. And, what’s the overall purpose of that service or product? To provide a solution to a specific problem your target customer is currently having. Social entrepreneurship is about using that same service or product to help your customers solve a social problem happening in your industry, community or the world as a whole.
That’s what being socially committed is all about these days. Social good helps others, which helps you create a “good name” for your brand. Make sure your small business provides social good. Your customers will commend you for it.
Follow Us on Instagram
What are some things your company has done for the social good of others?
Share your social entrepreneurship tips with our audience in the comments below.
Ready to publicize your social hook for the greater good of others? The EntreMarketing Group will help you get the word out about your social entrepreneurism. Contact The EntreMarketing Group about customizing an online marketing campaign for your social cause today.