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 comment:
and don't forget - don't skimp on your image and brand - far too many social enterprises look very bad as far as image and design go.
Post a Comment