Social impact startups have a much bigger place in business than you may realize. That’s because they’re not merely in the business just for the money. Of course, that helps. But they’re also in it to provide a significant or positive change to their business, whether they’re trying to solve world problems or fighting for a specific cause. Social impact can make quite a difference, provided you’re in it for the right reasons.
That’s why it’s vital to keep three main ingredients in mind when it comes to the effects of social impact startups – the people, the planet, and the profit. Of course, to some, profit may be the most important factor. After all, without money, how can the business survive? But there’s a balance to keep in mind here, so we’re going to look at each aspect and why they make such a difference.
Join us now as we break down the three main components of what makes social impact startups work so well.
Social Impact Startups – Power of the People
First off, having people involved in social impact startups is a must. After all, if there are no people running the startup – or, yikes, no consumers – then is there a point? The key here is to have the right people in charge of the startup. That means someone that has a clear vision of what they want to do with their social impact startups. And, of course, the right team right behind them.
Having someone with drive – and, more importantly, personal experience with the theme of the social impact startup – is vital. That’s because the consumers easily see who’s behind it and, more importantly, recognize their vision. In turn, they’ll do business with that startup and tell others about it. Then you see where the social impact truly lies, as the startup thrives and really begins to make more of a difference.
So the people, believe it or not, could serve as the most important aspect of the social impact startups. Make sure to keep that in mind and don’t let the money get too far into your head.
Watching Over the Planet
These days, everyone wants to save the world. After all, without it, what are we left with? It’s not like we can get real estate on Mars these days. So we have to take care of our Earth. With the right social impact startups, you’ve got companies that are willing to make that difference.
It can be something small to begin with. For instance, a recycling company or someone that makes products from previously made ones, without doing much damage to the planet or, better yet, their pocket books. This, in turn, could attract those that act as “saviors” of the planet, as it were. And that would attract more business as well. Not only does that mean more of a higher consumer base, but also those that are looking to make the change to save the world. The more of these, the better, especially with the state of the climate as it is.
So, yeah, the planet makes all the difference. Be sure to keep that in mind the next time you throw away that plastic bottle.
Profit, of Course
Finally, we do need to address the elephant in the room – you do need money to keep social impact startups going. But there’s a smart way of going about it.
Rather than going right for the money, consider taking care of the two aspects above – the people and the planet. By having the right message behind your social impact startup, people will show respect for that. If you’re in it for the wrong reasons, they won’t. So be genuine with your approach, like you’re really ready to make a difference.
From there, the people will come – and that’s where profit comes in. Keeping consumers happy with your business means they’ll return with more money. And the word of mouth aspect will also serve you well, with others coming based on what they’ve said. Who knows, you might even be able to attract certain groups on social media with the right thing to say.
This, in turn, will fuel the business. By keeping everyone happy and staying true to your social impact message, you’ll continue to thrive. Only by betraying it or changing business for the worse will something likely be affected in a negative manner. So stay true to yourself and your team, and you’ll make that change for the better.
This could be a challenge, especially for someone new to the whole environmental theme. But with a good research team – and the right frame of mind – you could have that social media startup’s message implied for the better!
The post How Social Impact Startups Thrive with People, Planet and Profit appeared first on KillerStartups.
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