The right social business concept is foundational to the success of your enterprise.
- Get it right, and your job will be to optimize it going forward.
- Get it wrong, and your job will be to clean-up the failed launch, find new funding, and start over again.
While there are many ways to determine a winning concept for your social enterprise, your Board will need – at least in the early going – to focus on 2 fundamental decisions:
- Will our enterprise act as an extension of some type to our core business/service line? – or –
- Would we better off setting up a Trust that operates multiple business lines – which may or not be directly related to serving our core constituency’s interests or needs?
There are advantages to operating either type of business inside a Trust structure – give us a call to discuss these.
This framework will stimulate discussion for your Board (also, see ‘Who is the Business For?‘):