When and how to measure social value with Heidi Fisher MBE (S2, Ep1)
It’s so exciting to get started with brand new podcast and not least because we’re starting with an absolute super star when it comes to measuring social impact and social value. My first guest is Heidi Fisher MBE who is the Founder of Make an Impact CIC and passionate about helping social entrepreneurs grow and develop their businesses as well as providing advice and support on how to measure social value.
I love helping clients measure the social and environmental impact they create in their social enterprises and in the next few episodes we’ll hear from different social entrepreneurs doing exactly that but I wanted to start this season with Heidi to explain the difference between social impact and social value, as well as when you should think about measuring social value in addition to your impact.
But there is so much more included in this episode.
Heidi Fisher MBE has a background in accountancy in the social enterprise sector, she transitioned to helping social entrepreneurs more holistically as a Social Impact Specialist and now helps social entrepreneurs measure their social impact and social value, whilst supporting them to set up and grow their social enterprises.
We have a lot in common and it was a joy to discuss our shared passions and interests in supporting the social enterprise sector. Heidi not only explains what social value measurement is but how it can help you as a social enterprise apply for grants and tenders, as well as the pitfalls to avoid.
““Social impact is about the difference or the change that you make to people, the economy or the environment. And then the next step in terms of social value is really thinking about how can we maximize the impact that we create for every pound that we spend. So it’s about saying, if we create these impacts….what’s their value essentially…””
In this episode we discuss:
How Heidi got started as a Social Entrepreneur and Social Impact Specialist and how her accountancy background has helped shape the specific support she is able to provide [0:45]
Why and who you should be measuring impact for [5:20]
The difference between social impact and social value [7:47]
The importance of getting the balance between data and stories [8:52]
What are commissioners looking for and how to optimise your tenders or grant applications [9:59]
How demonstrating your impact strengthens your tenders and funding applications [12:13]
This risk of only measuring what your funders and commissioners are asking for [15:57]
Tools and resources to help you get started [17:08]
The types of social enterprise who benefit most from measuring their social value [18:50]
A simple example of measuring your social value [20:20]
“We’re the ones creating real change now, not big corporations” [26:34]
Heidi’s three pieces of advice if you have an idea for a social enterprise or just starting out [28:57]
Why we should be creating a profit as social entrepreneurs [31:43]
Listen to episode one with Heidi here.
Links and resources which were mentioned in the episode:
Heidi’s first book, Social Enterprise – how to successfully set up and grow a social enterprise
Big Society Outcomes Matrix (now hosted by Good Finance)
National Lottery – Tools to help you gather and use evidence and learning
Find out more and connect with Heidi Fisher here:
https://makeanimpactcic.co.uk/
https://www.facebook.com/groups/socialenterprisesuccess/
