Wednesday, August 12, 2009

Top 5 Myths in Social Entrepreneurship

The change-leader is a myth-buster. As technology fuelled business models change, nowhere is this more applicable than in the field of social entrepreneurship. The top 5 myths are:
1. If you want to do good, you have to create a not-for-profit company.
2. If you want to create a social enterprise with a mission, you cannot do this in a for-profit company.
3. For-profit companies are incompatible with a social mission.
4. Shareholders demand quick returns
5. Triple bottom lines (profit, people, planet) are incompatible
The fact is that the current legal and financial instruments are limited in how social impact is measured and hence the tools need to evolve. But tools can't evolve unless social entrepreneurs see them as tools to be changed. "Be the change" said Mahatma Gandhi. Nobody said myth-busting is easy - but its a lot easier if you firmly believe in the change.

No comments: