Social Entrepreneur

Working Schedule

• Social entrepreneurs typically work full-time, with the possibility of long hours if they are running their organizations. They may work from offices, co-working spaces, or remotely, with frequent community visits and stakeholder meetings.

Typical Duties

• Research issues and develop business models able to implement innovative solutions
• Develop a comprehensive business plan outlining the company’s mission, vision, goals, target market, competitive landscape, marketing strategies, and financial projections
• Secure funding through loans, grants, investors, and revenue generation
• Build, recruit, hire, and lead a mission-aligned team
• Manage or delegate employee relations, performance, and other HR tasks
• Manage or delegate budgeting, accounting, payroll, taxes, and other finance-related tasks
• Develop and implement marketing strategies to attract customers and promote products or services
• Establish revenue goals. Lead or oversee sales teams to ensure targets are met
• Execute strategic plans for business growth, market expansion, new product or service introduction, and competitive positioning
• Oversee or delegate authority for running day-to-day operations, ensuring efficient processes, quality control, inventory management, procurement, production, service delivery, etc.
• Collaborate with community members, stakeholders, suppliers, vendors, business partners, and industry associations
• Build and maintain strong customer relationships. Provide excellent service, address questions and concerns, and gather feedback for improvement
• Measure the impact of initiatives and share the information with stakeholders

Additional Responsibilities

• Comply with various local, state, and international regulations and guidelines
• Mitigate legal, financial, operational, and other risks using risk management strategies
• Advocate for policy changes and raise awareness of ongoing issues
• Stay informed about industry trends, technological advancements, and changes related to the company’s social cause and to the overall business landscape
• Adapt strategies to stay competitive and meet changing customer needs
• Network with fellow social entrepreneurs and like-minded organizations

Soft Skills

• Adaptability
• Attention to detail
• Budget-conscious
• Collaborative
• Communication
• Confidence
• Creativity
• Decisiveness
• Detail-oriented
• Empathy
• Flexibility
• Leadership
• Multitasking
• Organizational skills
• Persistence
• Persuasiveness
• Problem-solving
• Resilience
• Strategic thinking
• Teamwork
• Time management

Technical Skills

• Business development
• Financial management, budgeting, and payroll
• Fundraising and grant writing
• Human resource management
• Impact measurement and evaluation
• Knowledge of relevant legal and regulatory frameworks
• Marketing and public relations
• Project management
• Report writing

• B Corps (a for-profit organization with a social impact agenda)
• Charitable foundations
• Cooperatives
• NGOs
• Nonprofit organizations
• Social enterprises

Social Entrepreneurs need an unwavering commitment to whatever cause they build their companies around. Among other things, this means putting in overtime to ensure their mission is successful. It takes persistence and consistency to make real change, especially when obstacles loom large. They also need leadership skills to motivate their teams and sustain that drive over the long haul.

Financial sustainability is crucial but earning profits should balance with mission goals. There’s a constant need to navigate stakeholder relationships, especially with investors who want to ensure their money is making a difference. Social Entrepreneurs must often make personal and financial compromises, but their efforts can offer profound fulfillment, making their sacrifices worthwhile! 

Social entrepreneurship is going through some exciting changes. Advanced technology like AI and blockchain is making it easier to solve social problems by improving transparency and efficiency. For example, BanQu uses blockchain to provide economic identities, helping them access financial services. Similarly, platforms like Giving Compass Insights use data and analytics to connect social impact organizations with resources and solutions​.

More social entrepreneurs are focusing on green projects like renewable energy and waste reduction. This push is in line with the global call for more sustainable practices to tackle urgent environmental issues. For instance, companies like BioLite are developing affordable, clean energy products for off-grid communities, reducing reliance on harmful fuels. Another example is Plastic Bank, which incentivizes plastic waste collection in exchange for digital tokens that can be used for goods and services​.

Impact investing is also booming, with investors looking for financial returns and positive social outcomes. This has led to a rise of benefit corporations and social purpose corporations collaborating with public, private, and nonprofit sectors. For example, Patagonia reinvests profits into environmental causes and sustainable practices. Additionally, companies like TOMS Shoes ensure every purchase directly benefits a social cause.

Social Entrepreneurs like to help others and have a knack for problem-solving. They may have been actively involved in local causes or community service in their younger days. Many have an independent streak that drives them to launch their own organizations when they’re older.