The Heartbeat of Business: Embracing Social Entrepreneurship

After many years of working in the non-profit world and growing frustrated with it, and then shifting to the private sector but missing the non-profit world, I found my place. Social Entrepreneurship. More specifically, I help social entrepreneurs grow their business AND their impact.

In a world where every headline seems to scream about war, global warming, inflation, etc… it’s refreshing and inspiring to find businesses that are driven by a deeper purpose: making a positive impact.

What is Social Entrepreneurship?

Social entrepreneurship is more than just a buzzword; it's a movement. These entrepreneurs don’t just aim to build profitable companies. Instead, they balance the books while also tackling some of society’s most pressing issues. Whether it’s reducing plastic waste, providing clean water, or ensuring education for all, social entrepreneurs blend the heart of philanthropy with the mind of business.

Why the Social Sector Needs Business

There are so many amazing non-profit and multilateral organizations out there doing amazing jobs! I’ve worked with them and what they manage to do is amazing with the limited resources they have. But their reach is restricted. They can only do so much as long as donations keep coming in. And donations come and go depending on many factors that are very far from their control.

Businesses on the other hand, can control how they run their business. They can control what their purpose is, who to buy from, how to manufacture their products, and where to sell them. By mixing social impact with business, we can create profitable business that creates sustainable impact. It’s a win-win situation.

Why Social Impact Matters

Why should a business focus on social impact? Isn’t the primary goal of any business to make money? Well, yes and no. Of course, profitability is crucial – without it, no business can sustain itself. But having a mission that goes beyond the bottom line can transform the way we think about success and legacy.

1. Purpose Drives Passion: When your work is aligned with a higher purpose, it fuels passion and commitment. Employees are more engaged and motivated when they know their efforts contribute to something meaningful. Imagine waking up every day knowing that your work helps improve lives. That’s powerful.

2. Customer Connection: Today’s consumers are more informed and conscientious. They prefer brands that reflect their values. Businesses with a social mission build stronger relationships with their customers. People want to support companies that are making a positive difference. It’s not just a transaction; it’s a shared journey towards a better world.

3. Sustainable Growth: Social impact isn’t a trend; it’s the future. As resources dwindle and societal issues become more urgent, sustainable practices and social responsibility will be critical. Companies that invest in these areas now are not just doing the right thing – they are future-proofing their business.

4. Innovative Solutions: Social challenges often drive innovation. Social entrepreneurs think outside the box, creating solutions that address root causes rather than symptoms. This innovative mindset can spill over into other areas of business, fostering a culture of creativity and resilience.

Some of my favorite Social Entrepreneurs

 - Blake Mycoskie: The founder of TOMS Shoes pioneered the One for One® model, donating a pair of shoes for every pair sold. This simple yet impactful idea has provided over 100 million pairs of shoes to children in need, and now gives 1/3 of its profit for good.  

- Yvon Chouinard: The founder of Patagonia, Chouinard has built a brand known for its environmental activism. Patagonia donates a percentage of its profits to environmental causes and is a champion of sustainable business practices. Patagonia designs its products to promote repair instead of waste, and has the largest garment repair facility in the United States.

 - Muhammad Yunus: Known as the “banker to the poor,” Yunus founded Grameen Bank and popularized the concept of microfinance. His work has empowered millions of people to lift themselves out of poverty through small loans and financial services.

- Matt and Jessica Flannery: Building upon Muhammad Yunus work, the co-founders of Kiva, have revolutionized microfinance through their online lending platform. Kiva allows individuals to lend as little as $25 to help create opportunities for people around the world, empowering them to start businesses, attend school, and improve their lives. (I personally LOVE Kiva and have been an active user for over 15 years!).

And like these amazing people, there are so many more out there!

The Amity OBM Commitment

 At Amity OBM, we believe in the power of social entrepreneurship. We’re committed to fostering a community where businesses are not just successful, but also significant. Let’s continue to learn, grow, and inspire each other to make a difference.

Remember, the heartbeat of business isn’t just in the profits we earn, but in the lives we touch and the world we leave behind. Let’s make it a better one, together.

Warm regards,

Estefanía

---

 Feel free to share your thoughts and stories about social entrepreneurship in the comments. I’d love to hear how you’re making an impact!