Is Now the Right Time to Dive into Social Enterprise?

The next time you are contemplating ways to generate additional revenue for your nonprofit, maybe while savoring a cup of CityKid Java, eating a delicious cookie from Cookie Cart, snuggling up in a warm sweater from Industries, Inc., or carrying your recycling out to the curb for pick-up by Eureka Recycling, just look around – all of those organizations just mentioned are social enterprises. Maybe the right way to generate additional revenue for your nonprofit is right in front of you – all you need to do is dive in!

Becoming a High-Performance Nonprofit

High performance.

Previously when I heard those words, the first things that came to my mind were high-performing vehicles like race cars – high-performing technology such as powerful medical scanners – or high-performance athletes like Olympic gold medalists.

Social Enterprise COULD Be Your Next Step

 

Even though social enterprise is a concept that has been around for a while, there is still some confusion about exactly what it is. Usually the questions that come up immediately when social enterprise is mentioned are: (1) What is social enterprise? and (2) Is it a viable revenue option for my nonprofit? So we’re going to begin with a definition of the concept, and then identify some critical areas to evaluate to determine if there is a social enterprise opportunity that is the right fit for you.

 

Definition