2. Overview
Entrepreneurship
Starting a Social Venture
3. Entrepreneurship
Comes from a French word “entre prendre”
which means to undertake
“The process of creating or seizing an
opportunity and pursuing it regardless of the
resources currently controlled”
4. Entrepreneurial Opportunity
An opportunity exists in a situation in which
economic resources (goods, services, raw
materials) can be shifted out of an area of
lower productivity and into an area of higher
productivity
5. A problem with Markets…
In business, the goal is wealth creation,
where a market values a business according
to customers’ willingness to pay
Markets do not do a good job of valuing
social improvements, public goods and
harms, and benefits for people who cannot
afford to pay
6. Social Entrepreneurship
“A social entrepreneur is someone who
recognizes a social problem and uses
entrepreneurial principles to organize, create,
and manage a venture to make social
change”
A focus on social wealth creation rather than
economic wealth creation
7. Social Entrepreneurs
Susan B. Anthony
John Muir
Dr. Maria Montessori
Frederick Law Olmstead
Florence Nightingale
http://www.pbs.org/opb/thenewheroes/meet/
10. Phases of Venture Start Up
The Idea
Planning & Development
Ready to Start Up
Venture Growth
Maturity
Exit
11. Skills & Abilities
Creativity
Self-knowledge The Idea
Research
Analysis Planning & Development
Negotiation
Communication Ready to Start Up
Management
Marketing Growth & Maturity
Accounting
IT Skills
12. The Idea: Be Realistic
Satisfaction and rewards
Sense of accomplishment
Build a meaningful entity
Solve an important problem
Do something no one else has done
Do what interests you
Potential pain & sacrifice
Uncertainty, stress
Very long hours, few vacations
Financial/lifestyle sacrifices
May have to give up “child” to see it succeed
13. The Idea: Your Vision
Why is this idea important to you, and what
do you want to achieve?
Milestones are progress markers along the road
to success.
Assumptions are factors upon which achieving
your milestones are based.
Tasks that are necessary to building your
venture.
14. Planning & Development
The Business Plan
Identifies resources needed
Helps you to better understand and communicate
your idea
Useful for soliciting advice and opinion and for
raising funding
Forces you to set goals and targets which will
enable you to track progress
15. Outline of a Business Plan
Executive Summary
Venture Description
The Social Issue
Generating Social Value – effecting change
through action & innovation
Management
Financials
16. Starting Up: Pitching your idea
‘Investors’ rarely put money into a "product" --
they invest in you!
The “Elevator Speech”
A 1 minute verbal ‘sales’ pitch describing your
concept and why someone should pay attention to
you.
Be clear and to the point
Project the confidence that you understand your
proposed venture and will be successful
18. Avoiding Failure
Poor or inadequate research
Understanding of the situation you are trying to
address, lack of objective feedback
Weak financial planning
Insufficient capital (money), lack of experience
Setting sights too high
Over-optimistic forecasts, poor planning
Hiring the wrong people
Failing to delegate
19. Exit Strategy
At some point, every entrepreneur ends their
relationship with their venture
Loss of interest
Goals accomplished
Venture ‘outgrows’ you
To ensure that sustainable improvement
results from your venture, it is essential to
plan for this occurrence
20. Venture Stages
3 4
Value Created
2
1
Startup Emerging Decline or
Maturity
growth renewal
Time