You first have to be familiar with what social enterprise is all about before you can plan on how to go about it. Social enterprise can be profit or non-profit. However, it is most commonly viewed as any non-profit organization that uses the capitalist system to earn income or funds for the continuity of its mission or activities.
Non-profits most times have to contend with donations, grants, and funds sourced for individuals and private entities to continue their mission. But by integrating social enterprise into their projects, they can cater for as many activities as they want.
The integration of social enterprise might have changed the outlook of non-profit to profit, it still does not follow full capitalism. Yet, like other profit-minded businesses, it requires capital and adheres to certain business formats such as having a business plan. Reviewing the opinions of business owners on ReviewsBird.com, a good social enterprise will take into account the financial evaluation and social impact as they align with the organization’s structure, mission, and background.
How To Plan The Business Of Social Enterprise
A business plan serves as a roadmap for executing key business models. Considering the reviews of financial companies, an organization without a plan is devoid of direction. For a social enterprise, the business plan is the same as other profit-minded ventures. It should contain a summary of the organization, mission, background and structure, operations, products and services, financial plan, and a holistic evaluation or assessment.
· Summary of the Organization
Before delving into the detailed information of the plan, there must have first been an executive summary that highlights keywords and concepts. The summary should contain the organizational setup, business description, value proposal, financial capacity, and capital requisition.
· Mission of the Organization
What is the enterprise about and is it integrated into the non-profit? The mission should be stated. Is the social enterprise meant to stand on its own, or to complement other key aspects? How is it related to the overall mission of the non-profit? Again, the mission should clearly state what it is targeted at — if it is geared at profit-making or building/rebuilding social impact.
· Background and Structure
This explains if the social enterprise is operational within the non-profit or outside of it. It contains the history and programs of the organization. A summary of the structure includes legal structure and relevance, how it is to be integrated into the non-profit, description, and explanation of the necessary roles and responsibilities.
· Products and Services
This section explains what social enterprise is to sell. What are the products and services rendered and how would they reach the target audience? It also includes marketing and advertising of the products.
· Financial Plan
This section is as essential as others. A good business plan must expound on financial capacity — the enough and the never-enough. It also must show where it plans to get the capital from and how it would be spent.
An enterprise, albeit a social one, is the same as other profit-making enterprises shaped by social impacts, such as e-learning, dropshipping, etc. Whatever the enterprise, a business plan is non-negotiable.