Running a profitable Social Enterprise
As they say in the Airline safety brief, you must put your own oxygen mask on first before helping others. A Social Enterprise must be able to make a profit to be able to reinvest time and effort to help more people. If this is a common goal of a Social Enterprise, why is this so hard for this to become a reality?
Possible issues include:
• What the customer is willing to pay
• The power of suppliers to set prices
• Customer don’t see the difference and can get it elsewhere
• You come up with a new idea and others just copy it
• Then, you are competing with other Social Enterprises for dollars
These 5 forces affect the profitability of any business and are particularly hard to overcome when you are trying to run a business making smaller margins. Even the small decisions Social Enterprises make can have a huge impact on vulnerable people, adding to the pressure of running a business.
Would you like to find out ways to overcome these issues based on more than 20 years of research? Then this meetup is for you.
We’ll cover at the event:
• The difference between cost, value, and price for customers
• Define marketing and sales from a customer needs prospective
• How the phrase “we can also do…” maybe sending you broke
• How to set up your own informal marketing co-operative
• Management techniques to turn attacks into positives, not take you off track.
There are solutions, but it requires focus, and often making tough decisions. Even saying no. However, it doesn’t have to be a no, maybe it’s a not right now. It’s also not a competition, so if you don’t need it, or can’t use it, who else could?
We’ve created an event for you to come along and talk to people that may be able to help guide you:
• AgUnity was set up to be scalable from its very inception. They had to be, as the potential market for their product was identified as 2.5 billion farmers worldwide. That’s not the most amazing thing (I think) cofounder David Davies can tell you about. Can you imagine using blockchain and smartphones in places that don’t even have electricity? Come and hear how they got to where they are now.
• You don’t have to be a “social enterprise” to give back to the community. Ginger and Garlic Takeaway Indian Cuisine is one of the few places open for the night students from IHBrisbane college to get a meal from after night class on the way to the train home, but it is what the owner does at closing time that makes it so special. Rather than throwing the food in the bin, every night they invite the homeless in and provide a meal. The owner of Ginger and Garlic, Ashish Sood, said to me “I don’t see why it is such a big deal” when insurance giant and Brisbane Broncos sponsor, NRMA, wanted to give him an award as part of their “Stories of Help” series. As a former international student, he can tell you his story better than me.
• Earthlink Handcrafts is a fair-trade supplier of educational products to childcare centers; however, money is not owner Sally Eberhardt’s why for being in business. Sally’s passion is for helping people, and as a business owner, Sally was forced to learn how to network. Not an easy thing for an introvert to do, but Sally soon found out she was not alone, and there are a lot of likeminded people out there if you know what to look for. Publishing her journey last year in her book “Pain-free networking for introverts”, Sally has loads of tips on how anyone can get themselves out there on a local level and get help through giving first.
Venue: Books and Bean's Cafe, 116 Adelaide Street, Brisbane 4000
Timing: 6 - 8pm
6 - 6:30 guest arrival, networking
6:30 - 6:50 event welcome and keynote; tips to overcome issues
6:50 – 7:10 1st speaker; 10min story, 10 min Q&A
7:10 – 7:30 2nd speaker; 10min story, 10 min Q&A
7:30 – 7:50 3rd speaker; 10min story, 10 min Q&A
7:50 – 8:00 Event conclusion; how to follow up, what’s next…