Social Venture: Steps to start a social impact Business
You don’t start a venture by forming problems, you do it by identifying one. Why such a line at the starting of a blog. I have seen people forming problems to build ventures and resulting in closing it a few months later. So, once you identified the problem dig deeper into it to find the solutions possible. The biggest question in a social venture is just two words Networking? And Funding? These are the words that propel you to solve the problem much Faster but read carefully not the only element to solve the problem.
Networking
Networking helps you build a strong community to spread your cause also it steers you through this journey by getting advice from the various mentors in this networking circle. So, jump into talks with the Guest speaker in universities or your LinkedIn connection and pitch them about your initiative. Now try to lay out a plan of action like you have a Go to Market Strategy for a Product. A Plan helps in execution and also selecting the right people for your venture. Now how to create a community? The biggest treasure is Social Media which can help you reach people of different ages, professions, etc.
Funding
Now the next big thing is Funding. Once you have designed a proper plan with an executable plan of action you should start approaching social venture incubators. These incubators check upon your idea and provide you with facilities and funding in a stepwise manner to carry out your job. Then you have angel investors who fund your ideas. But the most important part here is the role of opening up your connection. Try to find people who actually have similar ideas or an entrepreneurial pursuit to get on your team. Sometimes you might not have funding but you are surrounded by people who can carry out this job can make your investor believe more into your execution plans.
Trust your journey and stay positive, for this is the main ingredient for the success of your venture.
Lastly ending this piece by saying work on your passion to solve problems you would surely find one solution that can help millions of people across the world. Just keep this entrepreneurial attitude in yourself always in quest for challenges with the mission of societal upliftment.
Contributed By- Soham Roy, Content Writer @Mitti Ke Rang
At Mitti Ke Rang, we started with a COVID-19 community support fundraising, as an emergency response to provide a safety net to families. This will help them survive in the lockdown period. We aim to directly support these families by providing a minimum wage, through transferring the same into their accounts or partner with local NGO, Organisation, Fellow, or a Volunteer and support them with groceries.
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