For some reason, the topic of money for a Social Enterprise has always been regarded as a taboo subject. This Social Enterprise that is meant to make a social impact cannot talk about money. That is not true, at all. I feel like, in general, we all hate talking about money, we don’t want to share the number on our wage slips and we don’t want to share how much we have saved. Is it any surprise that Social Enterprise’s don’t talk about money?
Well, I want to address the elephant in the room.
We SHOULD be able to talk about money easily and share how we can use it to make a bigger impact.
You’ve heard the sayings, ‘money is the root of all evil’, ‘you don’t need money to live on’ and ‘money just causes so much trouble’. Basically, all the negative connotations surrounding the subject of income. For me, these comments should be disregarded, reflected upon and changed. To run a successful Social Enterprise you have to make money otherwise it is not an enterprise, it’s a Charity.
The more profit you make, the more impact you will have. You will be able to help more people, you will be able to do more which makes your impact bigger.
As a Social Enterprise, you really need to be clear in regards to HOW you make money, as well as how you will use the profit to make a bigger social impact.
I always think about how making a profit needs to be a part of the whole equation. From the purpose, calling, your passion and vision, every step of the way. With a mainstream business, the big picture is profit, but with a Social Enterprise it is all about the passion. This does pose a problem when considering money, as it is not always the focus. It still needs to play a part in every step you take so that you can make a bigger impact.
Align your purpose and vision with how you deal with money.
A bigger impact
If you do not consider money throughout the overall process, you might come to the point when you say to yourself, ‘I’ve done so much and I’m giving so much, but I’m not making a big enough impact’. This overwhelming feeling can be caused by a lack of resources at your disposable, which can be solved by having more profit at your disposable.
You might have a negative view of money because you have come from a charity. I urge you to confront this issue so you can make a bigger impact and your purpose can be achieved.
Don’t take this journey alone.
I will walk with you if you need help, all you have to do is take the first step.