A lot of you have probably never heard the term “social business.”  Those of you that have might be a little hazy about what a social business really is. Hopefully I can help a little.

A social business is a business whose primary objective is to meet a social need (e.g. hunger, unemployment, education, etc.) using sustainable, capitalistic methods.  Profit is used primarily to expand the businesses reach and services, not to increase dividends.  It’s a sort of hybrid between your traditional non-profit and for-profit ventures.

If you’re anything like me, though, a simple definition isn’t always enough to fully understand the concept.  So let’s try a simple example to help characterize what a social business might look like:

Let’s say you want to help poor people achieve financial independence.  Let’s also say you’re a Master Chef (or you know one – which is probably more likely).  Now open a for-profit restaurant that is staffed, in part, by individuals training for jobs in the high-quality food service industry that come from low-income families.  Add to that a job placement program at the end of a six-month training and you have yourself a social business.

Now I’m just spit-balling here, but you can see how easy – and fun – imagining a social business can be.   Factor in all the creative nuances that the for-profit arena can offer and the possibilities of how we tackle our social needs become limitless.

My challenge for you this week is to think of a social issue that has some meaning to you.  Then, try to think of an innovative, for-profit business around your chosen social issue.  Post them here, e-mail them to me, or keep them to yourself.  The point is to engage your mind!

Until next time…

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