CJ Hayden

C.J. Hayden, MCC

There’s a quiet revolution going on in the world of business called social entrepreneurship. The U.S. Chamber of Commerce reports that 81% of business executives now believe that “corporate citizenship” should be a priority, and 75% report their businesses are actively involved in bettering their communities.

But isn’t the purpose of business to make a profit? Aren’t businesses supposed to be focused on the bottom line? It appears that the very definition of these terms is changing. Increasingly, businesses are choosing to pursue what many are calling the “triple bottom line” of people, planet, and profits.

In pursuit of this triple bottom line, many businesses have adopted social responsibility practices. But an increasing number of businesses are not merely socially responsible; they have adopted a social mission at their core. For these enterprises, their reason for existence is not to turn a profit, it’s to make the world a better place. They have joined the ranks of social entrepreneurs.

Social entrepreneurship is an innovative blend of social action and entrepreneurial strategies. These new enterprises take a variety of forms, and come in all sizes. Some are organized as for-profit businesses dedicated to social change. Others are nonprofit organizations paying their own way with income-earning enterprises. Still others are professionals in private practice who offer their services pro bono to people in need.

Consider the Grameen Bank, a “social business” founded by Muhammad Yunus. Grameen was established to provide collateral-free microloans to the poorest of the poor in rural Bangladesh. Grameen now has over 7 million borrowers, and a 95% percent repayment rate. It is the first and only for-profit business to ever be awarded the Nobel Peace Prize.

Or the Delancey Street Foundation. Founded as a nonprofit by Mimi Silbert and John Maher to help substance abusers and the homeless get back on their feet, Delancey Street accepts no government funding. More than 65% of their funds come from businesses run by the clients themselves: a moving company, restaurants, a print shop, and more. The businesses serve as vocational schools, teaching job skills to the clients. Over 14,000 people have turned their lives around at Delancey Street.

Or San Francisco chiropractor Dr. Juan Campos, who began making an annual trip to El Salvador to offer pro bono chiropractic services. He asked other chiropractors to join him, all of whom paid their own expenses for the trip from their private practice income. In 2005, Dr. Campos’ Chiropractic Mission to El Salvador attracted 17 chiropractors and 34 students, providing chiropractic care to 24,000 Salvadorians. Every volunteer paid his or her own way to participate.

What these enterprises have in common is that they apply business principles and entrepreneurial skills to address social issues. They use the spirit, creativity, and drive of motivated individuals to make a positive difference in the world.

Because social entrepreneurs cross traditional boundaries between the worlds of government, nonprofit, and business, there is no way — yet — to accurately count how many social entrepreneurship ventures there actually are. But some estimates indicate that the social entrepreneurship sector employs around 40 million people globally, with 200 million more as volunteers.

If this sounds like something you’d like to be part of, here are three ways to get involved:

1. When you donate funds to a nonprofit, seek out organizations that use an entrepreneurial approach to operate self-sustaining programs. If you invest your charitable dollars in social enterprises like these, your donation can multiply itself.

2. If you are a coach, consultant, trainer, or legal/financial advisor, consider making social entrepreneurs an intentional part of your target market. People engaged in social entrepreneurship have large-scale dreams and goals, and are often eager for coaching, education, and advice.

3. Consider becoming a social entrepreneur yourself. Muhammad Yunus started the Grameen Bank with $27 from his own pocket. Delancey Street began with four residents and a $1000 loan. Juan Campos was at first the only volunteer in his program. If you have an idea for a business venture that could solve social problems, there is no place too small to start.

Social entrepreneurship is not just an appealing idea, it’s a growing, worldwide movement. Maybe you should get on board.

C.J. Hayden is an entrepreneurship coach and trainer, and the bestselling author of Get Clients Now! and Get Hired Now! She specializes in serving social entrepreneurs, activists, and community leaders. C.J. is a frequent speaker on topics of social entrepreneurship, activism, and life purpose. Find out more about C.J.’s free resources for social entrepreneurs at www.socialentrepreneurcoach.com .