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  • Essential Start-up Guide for Social Enterprises

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    The document outlines the "Magnificent 7 Ms" that are essential for start-up social enterprises to consider. These include: Mission, understanding the needs of the Market and stakeholders, securing Money through various funding sources, developing systems to Measure social impact, having strong Management and (wo)manpower, implementing effective Marketing strategies, and creating an overarching Masterplan. It emphasizes establishing a clear Mission, researching customer needs in the Market, financial planning and budgeting, and regularly updating a Masterplan to guide the social enterprise.

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    RBS StartUps

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    RBS Webinar 1 StartUps

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    The document outlines the "Magnificent 7 Ms" that are essential for start-up social enterprises to consider. These include: Mission, understanding the needs of the Market and stakeholders, securing Money through various funding sources, developing systems to Measure social impact, having strong Management and (wo)manpower, implementing effective Marketing strategies, and creating an overarching Masterplan. It emphasizes establishing a clear Mission, researching customer needs in the Market, financial planning and budgeting, and regularly updating a Masterplan to guide the social enterprise.

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    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
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    5 views31 pages

    Essential Start-up Guide for Social Enterprises

    Uploaded by

    Okaahlikeuangan
    The document outlines the "Magnificent 7 Ms" that are essential for start-up social enterprises to consider. These include: Mission, understanding the needs of the Market and stakeholders, securing Money through various funding sources, developing systems to Measure social impact, having strong Management and (wo)manpower, implementing effective Marketing strategies, and creating an overarching Masterplan. It emphasizes establishing a clear Mission, researching customer needs in the Market, financial planning and budgeting, and regularly updating a Masterplan to guide the social enterprise.

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    © All Rights Reserved
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    of 31

    BUSINESS ESSENTIALS FOR

    START-UP SOCIAL ENTERPRISES


    Nick Temple
    Director, Business & Enterprise

    Start-up checklist

    THE
    MAGNIFICENT
    7 Ms

    MISSION
    (and motivation)

    Mission:Why does it matter?


    Distinguishes social entrepreneurs in
    absence of purely financial motive
    Crucial for planning / evaluating
    Crucial for communication to people
    (internal / external)
    Aid decision-making / avoid drift

    Mission-Money Matrix
    on mission

    majority
    activity

    stay out!

    prime target
    (love it here)

    proceed with
    caution

    off mission
    less money

    more money

    Motivation?

    (Understanding your)
    MARKET

    Needs and stakeholders


    Market research: is the need
    unmet?
    Who are your stakeholders?
    [stakeholder analysis]
    Competitors
    (aka collaborators; aka partners)

    MONEY

    Funding + Resource

    S
    D

    Trading: selling, retail, trading


    Earning: contracting, procurement
    Government: local, regional, national, EU
    Lottery: BLF, HLF, Awards for All
    Trusts & Foundations: UK + international
    Corporate Support: CSR, pro bono
    Individual Giving: donations, philanthropy
    Social Investment: loan, patient capital
    + other resources: in-kind, volunteering....

    I
    R
    F

    N
    E

    M
    A
    F

    Y
    IL
    F

    O
    O

    S
    L

    Important money matters


    Financial management + budgeting
    P + L; cashflow; forecasting
    Costing + pricing (full recovery)
    Financial reporting

    MEASUREMENT
    (of social impact)

    The other bottom line


    Proving + improving
    How will you know you have
    made a difference?
    What is your social value
    forecast?

    MANAGEMENT and
    (WO)MANPOWER

    MARKETING
    (and sales)

    Sales and marketing


    What is the USP of your project?
    What are the best channels and
    routes to market?
    Everyone is in sales

    MASTERPLAN!

    An example plan
    1. Organisation: mission, vision, values, history, stakeholders,
    locations
    2. Strategy: overall objectives, success factors
    3. Products and Services
    4. Market: need or demand, beneficiaries, competitors, SWOT,
    PESTEL
    5. Social impact: aims, measurement, process
    6. Operations: management, staffing, sales + marketing
    7. Financials: current status, forecast, strategy

    DOES NOT NEED TO BE LONG


    BUT DOES NEED TO BE UPDATED
    OFTEN

    Top tips
    JFDI
    Charm: be nice
    (because relationships are key)
    Sort mission before structure
    Promote and promote (always on)
    Measure: quality + impact
    Be persistent
    Look after yourself

    Magnificent 7 Ms

    Mission
    Market
    Money
    Measurement
    Management
    Marketing
    Masterplan

    JOIN: www.socialenterprise.org.uk
    @SocialEnt_UK

    @nicktemple1

    nick.temple@socialenterprise.org.uk

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