An enterprise that is social, or a socially motivated enterprise?

Well the business planning course was fantastic, it was lovely to see everyone and to be in a room full of people who are doing such inspiring work. Our local CVS is very active, offers lots of personal support and really cares about individual charities and social enterprises. It is important to network with others working in the sector and keep each other motivated.

One of the ongoing conversations that kept cropping up (apart from the obvious lack of funding and grants available) was about the challenges of having to wear so many hats and develop so many skills in order to do the charitable work. It would seem that some social enterprises are conceived by people who are driven by a desire to create social change and therefore develop enterprise to support it. I think this is a difficult route and the CVS people said that a number of local social enterprises are converting to charities because they being pulled in too many directions. There are also more grants and funding opportunities available for charities.

Then there are people who are naturally motivated by entrepreneurial activity, have good business skills but also have a desire to create social change. They are successful in business and want make a positive social impact.

We discussed the importance of having a vibrant business plan, especially if you are not naturally business minded. The trainer used a metaphor about going on a train journey and pointed out that any journey requires planning and part of that is knowing where you want to go and also having some contingencies in place. He quoted Dr. Lawrence "If you don't know where you are going, you will probably end up somewhere else."

This led on to discussions about financial planning and cash flows and projections and how difficult it is for third sector organisations to plan their cash flow over the required 3 years in a business plan. We all have to pull figures out of the air to a certain extent because we cannot be certain of success in our funding bids or securing grants. It is easier to predict if we have supporters who give regular donations on a monthly or yearly basis, but generally speaking we have to learn to live with uncertainty.

Developing a strategic plan to raise money online could add an element of certainty to your planning. This involves having a system in place to generate multiple streams of income. You can experiment with different methods and explore the new avenues. Take a logical approach and if you don't feel experienced enough get support from a reliable source.

Getting the right help with any aspect of business is crucial to success. If your SWOT analysis identifies a serious threat to your business you need to search for a solution. There are many bid writers who can help you and write themselves into the bid, business plan experts are happy to look at your plan and work with you to develop a plan that is persuasive to funders. Internet marketing is the same. There are countless opportunities and possibilities and with the right support, you could be on the road to sustainability!

until tomorrow

Kay