Want to become a socialpreneur? This is what you must know
By Kazi Rahatul Zannat
01. Strings-Attached
Social business initiatives are fueled by passion. The entrepreneur envisages an idea and his urge to turn it into reality drives him to take the entrepreneurial risks. Naturally the entrepreneur shares a strong emotional attachment with the business. Just like too much emotional bias blurs your logical judgment in your romantic relationships, it is no different in this case. And what happens when you are not thinking right and you try to touch the flame? – You burn your hands.
02. Head in the clouds
In this market of inflation and recession, it is a common idea that ‘you can’t be rich doing a job’. Since the 90’s, almost every person has thought about doing business at some point of their lives. At first glance, doing a business might seem quite easy and adventurous. One might think that having a great idea is the key and selling it would be a piece of cake. But in reality that is not quite the case. Even if the idea is great, there are still high chances of the business being a failure. Because doing a business requires much deliberation, practical knowledge, technical and strategic skills, foresightedness, etc and only a bright plan is just not enough.
03. Staggering plan
To succeed in business, it’s crucial to have a great business plan that actually ‘works’. But it isn’t so easy or else almost every business would have been successful, whereas the contrary happens.
04. Are you a sloth?
It is good to be patient. But you should not be too slow and wait too long to make profit. Slow and steady does not always win the race. You are not missing the mark, are you? Be sure to hit the iron while it is hot.
05. Burning out your steam, are you?
Are you working too hard? Leaving the ‘life’ out of ‘living’? NEVER do that, be it a social business or anything else. It is really important to live your dream. Hard work is too important, but do not run your motor so much that the exhaust suffocates and eventually kills your dream.
06. Taking the wrong approach
Some entrepreneurs are really boosted up by their passion but are a newbie in the business world. So they make mistakes, take the wrong approach and eventually their idea ends up being another foiled business plan.
07. You have got your Invisible-Coat on
Social business usually works with innovative ideas which are different from mainstream profit-oriented businesses, which makes it unique. But it also means that too many people are not aware of it and awareness is important to reach the target market and consumer group. Failing to acquire visibility as per requirement might be a major cause of failure.
08. No market for you
Social business works with new ideas. Sometimes the ideas are not quite in harmony with the time and the place, so there is not enough demand for it to succeed. For this too, just be patient!
