The definition of social entrepreneurship has evolved across the decades. As technology advances and global thinking progresses, entrepreneurs are becoming increasingly creative in drawing on their talents and abilities to impact social change and address social problems.
What is Social Entrepreneurship?
A person who creates and sells a product with the intention of giving to the poor is one kind of social entrepreneur. A day trader whose sole intention in trading is to fund an education project in a developing country may be considered a social entrepreneur. A corporate social entrepreneur is yet another kind, implementing socially responsible projects while working within a larger context of a profit-focused company.
Buckminster Fuller, a visionary, architect and inventor, expressed a sentiment long ago that may be applied to current-day social entrepreneurs: "Everyone has the perfect gift to give the world, and if each of us is freed to give the gift that is uniquely ours to give, the world will be in total harmony."
Creating an Authentic Brand Identity
When social entrepreneurs attempt to design and market their brand, they often find that traditional marketing strategies do not suffice. Ryan Rigoli is a brand strategist and executive and life coach with extensive leadership experience in brand marketing. His work with social entrepreneurs reveals their deep need to create personal brands that are authentic and unique. While that may be the goal of any branding strategy, Rigoli points out that "there is a new era waiting to unfold." This is an era where larger numbers of people are acknowledging that each person has unique talents and gifts to share with the world.
As Rigoli explains, entrepreneurs are their own brand: "Who we are as a person, what we do with our time, what we communicate at work and in our free time, and our very presence as a unique human being all make up our personal brand."
It then follows that brand identity creation rests largely on the social entrepreneur's knowledge and expression of the authentic self. The acquisition of self-knowledge can be a lifelong pursuit. Communicating and expressing one's true self in a clear manner can be another challenge. In these cases, working with branding consultants who share similar philosophies can expedite the process of brand development and lead to more effective marketing strategies.
Effective Marketing Strategies for the Social Entrepreneur: Competition vs. Collaboration
Rigoli emphasizes collaborative branding strategies that focus on "co-creating" rather than competing. When the social entrepreneur feels resistant to a conventional and competitive marketing strategy, this conflict is actually a profound message. It signals a need to align marketing efforts with the social entrepreneur's true purpose, needs and gifts.
Lynne Twist, a global activist, fundraiser and author of The Soul of Money, points out that "competition and the fear of scarcity" prevent people from working collaboratively with one another. She argues that in a world of collaboration, resources do not run out; they are abundant. The acts of collaboration, reciprocity and sharing make this abundance possible. Social entrepreneurs who heed this advice often find themselves more aligned with the intention that brought them to their endeavor in the first place: the creation of a deeply compassionate interaction and exchange with other human beings.
Sources:
Rigoli Coaching and Consulting. Creating Magnetic Brands that Inspire Social Change (Accessed June 4, 2010).
Twist, Lynne. The Soul of Money. New York: W.W. Norton & Company, Inc., 2003.
Chitra Badii - Chitra Badii has a diverse background, having worked in the software, finance, education and performing arts industries. She is a ...
