Do you have the right business model for your social enterprise?
I believe in your dream of making a difference to people and planet.
But it doesn't have to just be a dream, you can make this happen with the right business model.
Having the right business model for your business means:
having confidence in exactly what you’re selling, who you're selling to and how you plan to sell it
knowing exactly what you need to do each month to generate sales and reach your income goal
having the processes in place and working to simplify your marketing and sales approach
having prices that reflect the true value of your products / services and that get you excited everytime you make a sale
generating the right income to enable you to deliver incredible social and environmental impact to people and planet
...without a business model that works for you and your social enterprise you may find you're often struggling to make enough each month to pay the bills; you often feeling like your chasing your tail; you're not sure if you can carry on; and you never have quite enough to deliver the impact you really want to make.
This doesn't have to be the way you run your social enterprise, you can and should have a sustainable, thriving and profitable social enterprise.
Here's how to get started:
1. Go back to your vision and purpose.
In it's simplest form what difference are you trying to make? Whenever I get stuck in my business I always come back to this fundamental question first, as it helps guide me and answer all other questions in my business. Is what I'm choosing to do ultimately helping me to achieve my vision for change?
2. Review your business model (the way your generate income).
Is my current business model enabling me to achieve my vision? If yes, how can I expand on this? If no, what do I need to change? Every month I review what's working and what's not when it comes to generating sales in my business. I don't shy away from the disappointments, the difficult numbers or the things that didn't work. Responding to what goes on in your business is essential for any social entrepreneur and this means getting intimate with your finances and exactly what you do each month to generate those sales.
3. Pricing for profit.
Do your prices reflect your true value and enable you to generate a profit? So many social entrepreneurs under-value the true cost and value of their products and services AND on top of that never add a profit margin. Pricing for profit in business is essential (read why here), social enterprises are no different. I think the biggest stumbling block is people's mis-understanding between the difference of profit for purpose/social impact/cause and profit for personal gain/shareholders. This isn't about your profiting personally (although I do believe you should be paid well for the work that you do, because let's face it you're contributing to transofrming the way we live on planet earth and that's worth investing in!)
4. Customers and how you're building a relationship with them.
Sales is all about people and relationships. It doesn't matter who your customers are they need to know, like and trust you (your brand, and your product/service) this isn't possible if you're not reaching out to them; communicating with them and doing exactly what you'd do with any other important relationship in your life that you actually want to work and stand the test of time - be authentic! So, what are you doing to build relationships with your existing and potential customers everyday?
Now that you've read all this what do you feel you need to work on most?
I ask because this the key to making your dream of leading a social enterprise - that makes a real difference to people's lives, society and the planet - a reality.
I don't want you to be stuck in this same position 12 months from now, I want you to move forward with good cashflow and sales so you can deliver amazing impact but you can also innovate, develop and invest in your business and people.
It's not enough to just run a hobby business. The local and global issues we face today are too significant to play small.
Now is your time to shed the things that aren't working for you and shift into leading a thriving, sustainable social enterprise.
If you’re looking for more support with your business model, generating income and reaching more customers, I invite you to join me in the Thrive Society. My monthly membership for female social entrepreneurs ready to make more impact and income but without the time to join a new course or programme and without the money to work with me 1:1.
The Thrive Society is a straight forward, strip-backed weekly group coaching membership. You turn up every week and ask your questions; you get support; I coch you through your challenegs; we create a plan.
You go away and take action with clarity.
And on top of that you're part of an amazing community of inspiring social entrepreneurs and changemakers from around the world.
If this feels like something you're interested in now is the time to jump on in at just £35/month, it's only open to new members for seven more days.
This is weekly group coaching with me at a fraction of the price I charge my 1:1 clients (£3950 for 12 weeks). It really is an offer too good to be true.
I can't wait to welcome you and help you generate more income and impact.