Strict Planning, Mission Focus Remain Imperative to Creating Viable Social Venture

When you’re trying to achieve a social good and build a solid revenue base, things can become a bit overwhelming, but despite the dual focus, entrepreneurs still need to concentrate on the metrics that account for their viable business and as well as their bottom line.

This month’s #MillennialTreps Twitter chat with the U.S. Small Business Administration on “Social Impact and the Bottom Line” was filled with what types of legal structure social entrepreneurs should consider and why these entrepreneurs might encounter hurdles when it comes to scaling.

Keeping your mission at the forefront of business decisions can be rewarding to your team and the work you’re doing, but can also be strenuous when trying to keep the business afloat with enough capital to sustain. Planning is crucial. Creating a social impact assessment can help keep your virtuous goals at the center of your business planning as you start to grow.

These were just a few of the responses. Here are some more of our favorites.

Q1: What are the fundamental differences between a social venture and a profit-oriented venture? ‪#MillennialTreps