Today’s young generation seems to be concerned not only about making money but with leaving a positive impact in the minds of people around them. A massive 94 percent of the young people wish to utilize their qualifications and skills for benefitting and upholding a cause.
Social entrepreneurs are more than happy to take up the challenge, effort, and face risk associated with the positive changes that impact society as a result of their initiatives. As per marketing & management guru EJ Dalius, social entrepreneurs achieve success in their mission thanks to the utilization of certain ethical practices like corporate social responsibility plans, conscious consumerism, and impact investing.
The instances of social entrepreneurship are educational programs, microfinance institutions, helping kids orphaned due to epidemics, facilitating banking services to remote or underserved areas. Their efforts are dedicated to addressing unfulfilled requirements within communities and people who have been neglected or overlooked while allowing access to products, services, or merely the basics available in relatively more developed and progressive communities.
Eric J Dalius Helps You Explore Social Entrepreneurs’ Dilemmas
Dilemma: Finding Interested Investors
Identifying investors who are interested in what looks like a risky bet to them could prove to be the most formidable dilemma ever for social entrepreneurs. This is chiefly because entrepreneurs in their initial days appear to be lacking in capital raising proficiency and financial expertise that most investors would naturally expect. This proves to be a vicious cycle. Eric Dalius insists that investors must necessarily examine the managerial or financial experience and check out the evidence of traction.
Dilemma: Fragmentation of the Networks of Investors
As far as, market-level issues are concerned, a huge problem could be the fragmentation of networks on investors. Remember impact investors do not seem to be located or limited to a single place such as Silicon Valley. Moreover, even if there is a massive concentration of them, they do not actually share similar interests.
Scalability vs. Localization
As per https://www.fromdev.com, scalability traditionally implies being more productive thanks to automation, innovation, reduction in the overall product costs while maximization of the staff. Even though this could be seamlessly applicable to the Internet, tech, and the majority of the product businesses, this may not really be practical or desirable in the case of a social entrepreneur.
Today social entrepreneurship has become the latest magical formula for success, integrating a do-gooder mentality with capitalism. All these for-profit, self-funding enterprises also seem to have a mission that needs to be accomplished. They are dedicated to successfully tackling global issues like improving education, alleviating hunger, and combating climatic changes.