It was clear throughout the SOCAP09 Conference that not only are new business models and financial tools emerging to achieve social impact, but there are also disruptive innovations and creative destruction of the existing business models. There was much talk of real value in the triple bottom line model. This is where a business measures social impact and environmental impact alongside profits.
Customers are now looking at how a company manages ALL levels of their business and supply chain. Sustainable business now provides a strategy on how to last for the long term. Consumers have a greater demand and expectation for companies to be transparent in their social and environmental impact. And, consumers have more tools (social media in particular) at their disposal to organize and communicate their happiness and disappointment. A new generation of social action is emerging with the use of these tools, that work to influence the behaviors of businesses towards this new way of thinking...check out Carrot Mob.
Customer dissatisfaction is best dealt with in an honest and transparent way. Corporations who show a willingness to address any issues that may have social or environmental consequences in an honest and open way, are more likely to retain their customers and gain their trust.
But more importantly, corporations who operate at a large scale both nationally and globally have the opportunity to create greater positive social impact with just a tweak of their supply chain or business model. And this is the real opportunity for the social sector to explore.
Friday, September 11, 2009
Thursday, September 10, 2009
Storytelling as Strategic Communications
This morning, I have the opportunity to teach a class on Storytelling at the Center for Nonprofit Mangaement. DSVP began our storytelling initiative in 2008 to capture the stories and build the communications content for a social media campaign. (See homepage for links to twitter, facebook, linkedin, and this blog) As a small nonprofit with 2.5 staff members (.5 is really a whole person who works part-time), we had a shoestring budget and very limited time to commit to our marketing and communication efforts.
The primary focus was to engage our stakeholders in meaningful conversations about our work and the value we bring to the community. In the process, we have captured 13 stories from 31 interviews; produced over 500 photographs, gleaned 40 useable quotes, and helped attract a variety of traditional media coverage. The impact it has had on all of our printed and social media work is exponetial as we slice and dice that content.
In today's class, I intend to talk about approaching storytelling beyond the traditional elements of storytelling strategy, i.e. protagonist/conflict/emotional hook. I get worn out on the "emotional hook" angle of nonprofit storytelling. While appropriate and compelling to some of your stakeholders, others need a differnt "impact hook". We will explore stakeholder personas and motivations and how to let them communicate your mission's value.
Storytelling as Reinforcement of Mission - Slide Presentation
The primary focus was to engage our stakeholders in meaningful conversations about our work and the value we bring to the community. In the process, we have captured 13 stories from 31 interviews; produced over 500 photographs, gleaned 40 useable quotes, and helped attract a variety of traditional media coverage. The impact it has had on all of our printed and social media work is exponetial as we slice and dice that content.
In today's class, I intend to talk about approaching storytelling beyond the traditional elements of storytelling strategy, i.e. protagonist/conflict/emotional hook. I get worn out on the "emotional hook" angle of nonprofit storytelling. While appropriate and compelling to some of your stakeholders, others need a differnt "impact hook". We will explore stakeholder personas and motivations and how to let them communicate your mission's value.
Storytelling as Reinforcement of Mission - Slide Presentation
Storytelling as Reinforcement of Mission
View more presentations from DSVP.
Friday, September 4, 2009
On starting a social enterprise. (This one goes up to 11)
Thanks to the expert soup at SOCAP09, I have gleaned some good advise for those interested in starting a social enterprise or social venture. These ideas come from a variety of brains including Bill Young of Social Capital Partners; Adam Webach of Saatchi & Saatchi S; Todd Johnson of Jones Day; Jonathan Storper of Hanson Bridgett; Paul Richardson of Renewal2 and Derek Gent of Vancity.
1. Beware of making decisions based on tax implications.
2. Research first, then build your structure.
3. Get a good lawyer with very good subject matter expertise.
4. Get mission aligned and defined right up front.
5. Memorialize the mission/ anchor it in the business model.
6. Make a road map of how that mission will play out as the business grows.
7. Have a way to resolve disputes when it comes to the mission aspect of the business so it doesn't get lost or re-purposed.
8. Don't forget you are running a business. Make sure everyone on staff understands the fact that you ARE a business.
9. Lead with a good business model. Most investors are already stressed and are not interested in leading with a mission or social impact agenda.
10. If you are doing something that is worthwhile and good, there are people who will help you.
11. Jump Now, Fear Later, The Safety Net will come.
1. Beware of making decisions based on tax implications.
2. Research first, then build your structure.
3. Get a good lawyer with very good subject matter expertise.
4. Get mission aligned and defined right up front.
5. Memorialize the mission/ anchor it in the business model.
6. Make a road map of how that mission will play out as the business grows.
7. Have a way to resolve disputes when it comes to the mission aspect of the business so it doesn't get lost or re-purposed.
8. Don't forget you are running a business. Make sure everyone on staff understands the fact that you ARE a business.
9. Lead with a good business model. Most investors are already stressed and are not interested in leading with a mission or social impact agenda.
10. If you are doing something that is worthwhile and good, there are people who will help you.
11. Jump Now, Fear Later, The Safety Net will come.
Emerging Social Capital Markets
I will begin with the confession that throughout the Social Capital Markets conference I had to stretch my brain to stay connected to much of the conversation. As you would predict, much of the conversation was made up of very specific references to traditional financial mechanisms, capital markets and a whole lexicon of language that is just barely familiar to me. Lucky for me, I had Bob Wright *, DSVP founding partner and banker/lawyer extrordinaire who kindly helped by translating for me!
There was a sense that the scale of our global issues are massive, and the only way to really achieve the social impact we seek is to tap in to the private and public resources at the scale that can make a meaningful difference. The questions raised included: how do we use the existing tools, infrastructure and resources in dramatically different ways to address some of our most pressing social issues? And, how do we begin to construct new tools to achieve the impact we seek. Therefore, much of the conversation narrowed around the following areas.
1. Building and accessing social venture investment funds such as Calvert, Acumen, Schwab Charitable, Good Capital, Renewal2, IGNIA, and many more. There was a general sense that social investors need to get more familiar with each other and what segment of the investment continuum that each are focused. There is an opportunity and a need to develop ways to signal each other and hand off investments at different stages as in the venture capital world of seed, venture, equity, and private funding.
2. Measuring social impact in a way that involves standards of risk assessment and a true cost and wholistic approach to value. New tools announced included Impact Reporting Investment Standards (IRIS) and Global Impact Inves ting Rating System (GIIRS). What I found most interesting here is watching a very common conversation that has been happening for the last ten years in the social sector (about how to you measure social impact or social ROI), now happening among financial experts. Keep in mind, these folks are used to seeing quarterly reports on the status of their investments. Try giving quarterly reports on how one community solving povety. Community change has a different timeframe. However, what is most exciting is having this conversation among experts who are well versed in quantitative analysis. Together, we are sure to advance these ideas faster.
3. The perceptions of risk vs. real value in social investments. The recognition that often times investors and philanthropists are the same people with different expectations. I heard a term used, "Two-Pocket Investor" which refers to someone who thinks differently of their philanthropic investments vs. their financial investments. There was some confusion from the investor community why some of our philanthropic institutions deem social enterprises as too risky and yet preferred to give a grant. A solution offered up was a "stacked investment" which is a blend of financial investments and grants to help distribute the risk.
4. And, finally, their was amazing ideas and wisdom shared on starting a social enterprise. (see previous blog post on this topic)
*Bob, the world awaits your genius tweets.
There was a sense that the scale of our global issues are massive, and the only way to really achieve the social impact we seek is to tap in to the private and public resources at the scale that can make a meaningful difference. The questions raised included: how do we use the existing tools, infrastructure and resources in dramatically different ways to address some of our most pressing social issues? And, how do we begin to construct new tools to achieve the impact we seek. Therefore, much of the conversation narrowed around the following areas.
1. Building and accessing social venture investment funds such as Calvert, Acumen, Schwab Charitable, Good Capital, Renewal2, IGNIA, and many more. There was a general sense that social investors need to get more familiar with each other and what segment of the investment continuum that each are focused. There is an opportunity and a need to develop ways to signal each other and hand off investments at different stages as in the venture capital world of seed, venture, equity, and private funding.
2. Measuring social impact in a way that involves standards of risk assessment and a true cost and wholistic approach to value. New tools announced included Impact Reporting Investment Standards (IRIS) and Global Impact Inves ting Rating System (GIIRS). What I found most interesting here is watching a very common conversation that has been happening for the last ten years in the social sector (about how to you measure social impact or social ROI), now happening among financial experts. Keep in mind, these folks are used to seeing quarterly reports on the status of their investments. Try giving quarterly reports on how one community solving povety. Community change has a different timeframe. However, what is most exciting is having this conversation among experts who are well versed in quantitative analysis. Together, we are sure to advance these ideas faster.
3. The perceptions of risk vs. real value in social investments. The recognition that often times investors and philanthropists are the same people with different expectations. I heard a term used, "Two-Pocket Investor" which refers to someone who thinks differently of their philanthropic investments vs. their financial investments. There was some confusion from the investor community why some of our philanthropic institutions deem social enterprises as too risky and yet preferred to give a grant. A solution offered up was a "stacked investment" which is a blend of financial investments and grants to help distribute the risk.
4. And, finally, their was amazing ideas and wisdom shared on starting a social enterprise. (see previous blog post on this topic)
*Bob, the world awaits your genius tweets.
Social Capital Markets Conference 2009
I'm decompressing from an amazing time in San Francisco where I had the opportunity to meet the leaders who are advancing new ideas and financial instruments to achieve greater social impact. The crowd attracted to this second annual event was made up of a blend of financial advisors, fund managers, social entrepreneurs, and global organizers who were interested in thinking differently about how we address the social issues that we face in the world. The main theme was the desire to harness the power of business and government capital markets by building a new "social" capital market.
This was truely an amazing social media experience, and thank you to all the organizers who hosted us! The food was amazing and we all loved the kickass bags!
SOCAP09 YouTube Channel - Watch any of the amazing and rich breakout sessions
From the SOCAP Blog - Here what leaders throughout the event were experiencing
Check out the #SOCAP09 twitter feed with almost 3000 tweets from almost 600 contributors!
Social Capital Round Up
Economist.com write up: Capital markets with a conscience
This was truely an amazing social media experience, and thank you to all the organizers who hosted us! The food was amazing and we all loved the kickass bags!
SOCAP09 YouTube Channel - Watch any of the amazing and rich breakout sessions
From the SOCAP Blog - Here what leaders throughout the event were experiencing
Check out the #SOCAP09 twitter feed with almost 3000 tweets from almost 600 contributors!
Social Capital Round Up
Economist.com write up: Capital markets with a conscience
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