Ep. 15 From Problem to Solution: Practical Tips for Social Entrepreneurs
7/23/24
Welcome to today’s episode, where Kimberly and Stephen have a candid conversation and share practical tools to effectively address a community problem or challenge through your business. Whether you see it as a need or a desire in the community, understanding this issue should be at the core of your business strategy, shaping your products, services, and overall offerings. For social entrepreneurs, it is crucial to focus on what the community genuinely needs and niching down to meet those needs. In this brief episode, we'll outline three essential steps to help you clarify the problem. Let's dive in and explore these steps together, starting with understanding the true nature of the problem and who is affected by it.
In This Episode
- [1:23] Kimberly discusses three tips for aligning your business strategies with community needs to effectively address problems or fulfill demands
- [2:48] What is the problem? Who cares about it? and do you even care?
- [4:15] The importance of research for yourself and investors and discussion of who is willing to pay for the solution
- [6:33] Discussion of the environment, communities, social system, economic system and political systems
- [9:31] Finding your niche, partnering with other entrepreneurs, and determining the cost of the challenge if it goes unmet
- [13:17] Check out the self-paced course offered at DOGOODX.org to determine if you are a candidate to become an entrepreneur
Key Takeaways
- To have a sustainable business, you need to ask yourself what problem you want to solve, who your customers are, whether they care about this problem, and whether you care.
- The importance of research before starting a business or attacking a problem cannot be overstated. It helps you and makes a difference to investors.
- A problem is an opportunity in disguise.