Tag Archives: Bradford Turner

Why Measure Impact?

Bradford_Turner_0027In the interest of raising capital for socially purposed initiatives, social impact measurement is fast becoming a critical success factor; differentiating between projects that do and do not, receive funding, from both public and private donors and impact investors.

An ever-increasing amount of social purpose organizations (NGO’s, non-profits, charities and social enterprises), funders/investors (both public as private) and multinationals are united by a goal: creating social, including environmental, value.

In order to attain that goal and further magnify it, it is critical to know which approaches are superior and why. This is how social impact measurement comes into the conversation…

Measuring and managing social impact helps an organization involve diverse segments of stakeholders, understand what changes and ultimately, to value what matters. Impact measurement increasingly empowers and organization to be accountable for the changes created by the mission of the organization. Lastly, measuring impact will provide an organization with insights into where and for whom are creating impact and how to maximize this.

The Sector Inc., provides customized solutions for social impact management. Whether led by a public authority, social enterprise, investor/funder, non-profit or corporate, measuring, monitoring and managing social impact, The Sector will enable an organization to make more informed decisions, improve impact and fundamentally enable enhanced accountability to stakeholders.

 

Bradford Turner, Principal

Characteristics of Successful Social Entrepreneurs – Passion.

Passion for the Business!

EX3_0752The first and foremost characteristic shared by successful social entrepreneurs is a passion for their business, whether it is in the case of a new firm or an existing business. This passion typically stems from the social entrepreneur’s belief that the business will positively influence people’s lives.

Consider is the case with Aquaflow, a company that transforms algae grown on sewage into a substitute for crude oil. It’s founder, Nick Gerritsen, intends to influence governmental urgency on climate change. Making a difference in people’s lives is also the primary motivator behind many social enterprises, which are often started by people who set aside promising careers to pursue a social goal.

This was also the case with John Wood, the founder of Room to Read, the author of Leaving Microsoft to Change the World. Wood’s intense passion to serve children in developing economies compelled him to cash in small amounts of Microsoft stock to buy books and build schools, even before exiting the company.

Wood finally left Microsoft to lead Room to Read full-time. As of May 2011, Room to Read had built over 1,440 schools and distributed over 9.4 million books in developing parts of the world.

Passion is critically important for both for-profit and not-for-profit entrepreneurial organizations because, while rewarding, the process of starting a firm or building a social enterprise is grueling and demanding.

There are five primary reasons passion is important. Each of these reasons reflects a personal attribute that passion engenders. Removing just one of these qualities would make it much more difficult to launch and sustain a successful entrepreneurial organization.

See Adam Slack for:

FIVE PRIMARY REASONS PASSION IS IMPORTANT FOR THE LAUNCH OF A SUCCESSFUL ENTREPRENEURIAL ORGANIZATION

Barringer, Bruce. Entrepreneurship, 4th Edition. Pearson Higher Education (UK), 2013-05-20. VitalBook file.

The Sector Inc., 2017

 

Porter’s 5 Forces to Assess Ability to Achieve Social Impact in an Eco-System

Bradford_Turner_0031The Sector utilizes Porter’s 5 Forces framework to assess socially-minded organization’s market positions and to forecast future positions, within their stakeholder environment, when strategic planning….We adopt analytical tools typically for profit-driven businesses as a way to analyze competition and implement strategy for not-for-profit’s, social enterprise, hybrid’s, and corporate social strategies.

A prudently assessed and factual understanding of an organizations influence in it’s eco-system pursuant to the following 5 forces is key for sound strategy development….

Bargaining Power of Service Providers (Suppliers): How much influence do sub-contractors or partners providing services have on a charity? Providers gain power as their services become central to the mission and vision of the organization.

Bargaining Power of Grantmakers (Buyers): Grantmakers are essentially “purchasing” the social impact provided by the organization. If they can “get” a similar or superior product from another organization, they will “buy” their mission/vision instead.

Competitive Rivalry: There are an estimated 86,000 nonprofit organizations in Canada. It is important for public sector leadership to understand the gaps or competition in the market.

Threat of Substitution: How likely will a grantmaker or community or company switch to a competitor? If switching costs are low and similar organizations exist, there may be a serious threat of substitution.

Threat of New Entrants: With high donor loyalty or high fixed costs, the threat of new entrants can be limited. However, if the demand for a particular service is high and fixed costs are low, new organizations or programs may enter the market.