Nowadays, several definitions of social entrepreneurship coexist. I think this ambiguity might sometimes dilute social entrepreneurs’ image, reduce their credibility vis-a-vis other entrepreneurs, weaken the relevance of the insights they receive and, ultimately, harm their purpose. Therefore, having a shared understanding of what social entrepreneurship means seems essential.
This article will cover my definition of a social enterprise and share insights regarding social entrepreneurs inferred from primary research performed in a small random sample in Toronto, Canada.
A Social Entrepreneurship Definition
From my perspective, a social entrepreneur is an entrepreneur whose decisions are primarily driven towards effecting lasting, large-scale social benefits. This definition covers a specific section of the social-business hybrid spectrum, including non-profit organizations that leverage business tools to achieve sustainability and pursue their social mission at scale. However, it excludes corporations practicing social responsibility as their social impact is not their primary focus.
Some Insights Regarding Social Entrepreneurs
After meeting with social entrepreneurs from various industries and backgrounds, I noticed that their similarities outweigh their differences by one order of magnitude.
First, they have all developed a social fibre through experiences that have changed their understanding of the world. And this evolution led them to solve problems they witnessed or suffered themselves, usually by leveraging their passions or previous knowledge.
The social entrepreneurs I’ve met are also extremely action-oriented and lean towards a trial-and-error approach to problem-solving. Indeed, they are uncomfortable with the status quo and feel the urgency to break it.
However, they are down-to-earth and want to effect social impact while generating benefits for themselves. These benefits can sometimes take a cathartic form. For example, they may relieve their pain by preventing others from suffering.
My research also underlined that social entrepreneurs are resilient and believe they have (or can find) the skills to tackle the obstacles standing in their path. Nevertheless, this observation might be an instance of survivorship bias. Indeed, less optimistic people might have given up during the early stages of their journey, and I wouldn’t have had the chance to meet them. Otherwise, being overly optimistic can sometimes be the only path to succeed - as Mark Twain put it, “they did not know it was impossible, so they did it.”
Interestingly, despite their optimism and urge to act, social entrepreneurs do not appear to be risk-takers. Indeed, they often start their venture with small investments and a homemade do-it-yourself approach. Also, my interviews revealed that this risk aversion could sometimes generate challenges when advancing to a higher-stake stage.
Finally, the social entrepreneurs I know are particularly open to new ideas and insights. However, it’s essential to note that they’re all willing to chat, and this inference may be biased.
Takeaways
A social entrepreneur is an entrepreneur who drives their decisions towards effecting lasting, large-scale social benefits.
As previously demonstrated by other studies, my primary research reflects some common traits among social entrepreneurs:
• They are action-oriented and have often developed a social fibre via their own life experiences, driving them to solve problems they have witnessed by leveraging their passions and backgrounds.
• Social entrepreneurs want to effect social change while personally getting tangible and intangible benefits from their activity.
• Finally, they also appear to be risk averse and sometimes struggle to scale up their activity.
Thank you
Thanks so much for reading this post. I hope you enjoyed it!
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