Get All Access for $5/mo

Five Tips On Becoming A Successful Social Entrepreneur Five tips from some of the most successful social businesses.

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

The Venture
Dumye founder Sahar Wehbeh pitching during The Venture Gulf finals

We know that success doesn't come overnight. All entrepreneurs know too well. For The Venture's global report, Redefining Success in a Changing World, more than 550 social entrepreneurs were surveyed about how they reached success. Here are five tips from some of the most successful social businesses.

1. Aim to have impact in each layer of activity of the business
Your business model has the potential to have a positive impact on your employees, supply chain and end consumers, as well as serving a societal need. The model needs to be designed with multiple, mutually reinforcing impacts in mind from the outset. That will make it more successful and allow you to turn a profit.

2. Shout it from the rooftops
Try to generate as much awareness of your business and accept offers of support from experts and big business as possible. Most social entrepreneurs see lack of consumer awareness as a significant barrier for scaling their ventures and solutions. Organizations like crowdfunding platforms, for example, are excellent resources for helping social entrepreneurs grow and establish themselves.

3. Partner with big business
Not only will established enterprises have potentially helpful connections for you and your business– they can include you in their supply chains and you may in turn inspire them to adopt social entrepreneurial practices within their own company as well.

4. Be passionate and business-savvy
Making the right business decisions will likely translate into positive outcomes for your social mission. Remember that business sustainability can lead to the sustainability of your social impact.

5. Remember that you are a business
Socially-minded businesses still need to generate revenue, pay employees and provide services. Don't be afraid to reach out to fellow social entrepreneurs and businesses to find out how they did it. Pablo Gonzales of Café Punta del Cielo talks about the importance of getting your idea from being conceptual and out into the marketplace, "Some people think that ideas are very valuable, but the ideas only get their value when they are done. So we always tell entrepreneurs that if you have an idea, you have to [take] it to the market."

The Venture is a new global social enterprise initiative searching for extraordinary startups and new ideas that use business to create positive change. Sahar Wahbeh, founder of Dumyé is the GCC representative for the global finals in San Francisco. Vote for her at https://www.theventure.com/gb/en/finalists/dumye

Finance

Cairo-Headquartered Beltone Holding Achieves Net Profit Of EGP514 Million In Q1 Of 2024

The company's consolidated financial and operational results for the period ending March 31, 2024 revealed remarkable growth.

Growth Strategies

Connecting Strategy With Purpose: A Shared Vision For Dubai's Quality Of Life

The unveiling of the Dubai Quality of Life Strategy 2033 marks a new era in the Emirate that is focused on prioritizing resident well-being and happiness.

News and Trends

UAE-Based Shorooq Partners Makes First Investment In Türkiye By Leading A US$5 Million Seed Round In Traveltech Startup Roamless

Mahmoud Adi, Founding Partner of Shorooq Partners, said in a statement that Roamless is "a company poised to disrupt the traveltech industry."

Business News

Bill Gates Recommends These Books for Your Summer Reading List

The four books recommended by the Microsoft founder all "touch on the idea of service."

Business News

7 AI Secrets Every Entrepreneur Must Know: AI Quiz and Breaking News from OpenAI You Can't Miss

Check out these 7 critical questions from our unique quiz that uncovers the AI secrets every entrepreneur must know!

Productivity

10 Ways to Beat Procrastination for Peak Performance

When you stop putting things off, you'll start to see the success you're after.