The business plan as a marketing tool - Katy Sides

I think that the concept of a business plan in a social enterprise is very interesting. So often, when we describe a social entrepreneur we talk about their innovation and ability to use resources without being concerned about their limited access to those resources. It is not often seen in the literature that a social entrepreneur focuses on strategic planning for the future. I know that I tend to think about social entrepreneurs as focused on getting their organization started and meeting their original needs. I have always imagined that if social enterprises participate in strategic planning and the creation of long-term planning it is once the organization is fully developed and thriving. I think that there is a lot for social entrepreneurs to learn about successfully using business plans from the beginning. The creation of business plans and implementation of them forces social entrepreneurs to consider possible future scenarios for the organization and the environment, as well as pay attention to some of the details of the organization. Not only does it provide an outline for the future, make predictions of how to deal with the possible directions of the organization, possible exit strategies if needed, but it also can be a tool to garner more support for the organization. It can be a way for social entrepreneurs to show that they have a big plan that is strategic and business-minded. It can be used to attract some of the necessary resources that they may not have access to, by becoming a tool to attract potential stakeholders. The idea of a social enterprise is a new business form that blends together a nonprofit business model with a traditional private sector business model. While it is exciting to have an organization that has both a social and a financial bottom line, many investors are likely to question how successful this model can be. By showing that they have invested in the time and resources to consider the future of the organization through a business model, a social entrepreneur can show that they have more than just a great idea, and can attest to their potential in the market. The social entrepreneur can show that they understand the tension between their social mission and need for financial empowerment in their business plan. They can also show that while they are trying to improve social conditions of a certain area, they are also capable of creating financial benefits. Additionally, a business model can act as a way to test the social enterprise against its possible future tests. By preparing for what lies ahead, the social enterprise makes itself stronger for today and the future.