Entrepreneurs Addressing Challenges Faced by Communities and Families

David Dey

Communities face various challenges, but entrepreneurs are providing solutions to pressing business and social issues.

The Institute for Social Entrepreneurship has partnered with some exceptional entrepreneurs, businesses and organizations that are making sustainable impacts in the communities they do business in. Beyond the goal of making a profit, the Institute for Social Entrepreneurship is promoting an expanded application of entrepreneurship that makes a profit and a sustainable impact.

At the core of any business idea or venture is a person with a passion to solve a business problem and often the leaders have a passion to address a social issue that adversely impacts their business or community. We would categorize these business leaders as Social Entrepreneurs.

Social Entrepreneurs follow their passion and purpose. A passion is simply something that you are enthusiastic about. Our purpose connects our passion and lives into a central idea or way that makes a difference. The Social Entrepreneur’s success lies in their ability to pursue their passion (business idea) and purpose (social difference) simultaneously. Wouldn’t it be ideal to be able to solve both as part of a business idea or venture?

A few years ago, I began examining my life and work. The process revealed the need to focus my efforts on activities that truly pursue my passion and purpose by expanding the Institute to create a comprehensive model that better supported Social Entrepreneurs. Perhaps you are exploring how best to live out both as well.

Current Environment and Challenges

• Economic disparities

• Social issues

• Inadequate infrastructure

• Political challenges

• Environmental factors

• Lack of access to education and healthcare

• Changing demographics and the challenges they present

• External factors: Global events, economic recessions, pandemics like COVID 19 and its long-term implications.

All the above can adversely impact communities and ultimately families, leading to job losses, economic downturns, and social disruptions beyond their control.

The Economic Innovation Group (EIG) created a Distressed Communities Index (DCI) tool for measuring the comparative economic well-being of U.S. communities. The index focuses on a series of social and economic indicators.

Key Fact: 14.8% of the US population (nearly 48 million Americans) reside in economically distressed communities and 60.6 million reside in at-risk communities.

Photo Info found: https://eig.org/distressed-communities/ key-findings/

It appears that more prosperous communities experience growth in small businesses, employment, education, and housing stability while distressed and at-risk communities experience less in almost every measure.

The impact of small businesses already has a profound impact on the wellness of communities. Our desire is to multiply the impact by supporting Social Entrepreneurs by showcasing how local knowledge and entrepreneurial skills can help communities, organizations, and individuals uncover and seize new opportunities.

What are the right opportunities for you as a Social Entrepreneur?

Where do you start and how do you maintain a successful business and take on more?

How do you choose the right problem or specific need to address? In some way, your life has been a series of lessons learned and experiences that have ultimately prepared you to respond to the need or problem you are most passionate about. The problem:

• Is often visibly in front of you

• Will demand your best and challenge your level of commitment

• Requires your skills and talents

• Often requires partners or linkages with others

We all have a degree of passion and when channeled, our passion can be utilized to help solve a problem or need as a Social Entrepreneur. Choosing the right problem to solve is something we help you do.

Here are samples of a few Social Entrepreneurs we helped link their passion (business idea) and purpose (social difference).

Mike has a passion for his nearly acquired aquatic business that provided specialty products to customers.

Mike wanted to make a difference in the lives of children and families, so he added a specialty product to his business dedicated to helping children overcome the effects of cancer while receiving life sustaining treatment.

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Brent has a passion and expertise for computer systems and wants to grow his software business.

Brent targets his growth to include hospital billing systems that speed up process and accuracy that lessen stress and increase the insurance approval process for families.

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Nina has a passion for housing and customer service as a realtor.

Nina targets a portion of her business to connect with unbanked clients with a rent to own concept to help new homeowners fund stable owneroccupied housing access.

Choosing to Follow Both

The ability to pursue your passion and purpose requires several keys.

Courage – It takes great courage for a person to pursue their passion and purpose in the face of potential obstacles, especially self-doubt and the expectations of others.

Opportunity – The quest to follow your passion and purpose forces one to make uncomfortable choices that may seem risky or unsettling. I have a friend that rejected a $100,000 job offer to pursue her passion for social media and marketing by launching a small business. She is experiencing success in her tenth year in business.

Time – A commitment to spending the necessary time to ensure the success of the business or venture.

The Institute is here to help at each stage of your process.

David is passionate about Social Entrepreneurship and improving communities. As a professor, consultant, and author with 25 years of experience as a community developer, he has built ISE’s curriculum, materials and proven methodology to help businesses succeed in growing and giving back. With expertise in securing resources to launch, grow and manage businesses and ventures, David helps entrepreneurs and communities develop and execute winning concepts through interactive programs and workshops. Please visit https://www.institute4se.com/ to learn more about David and the Institute.