Running Successful Social Enterprises in Africa-Kampala Social Innovations Forum About the Kampala Social Innovations Forum The Kampala social innovations forum was an event bringing thought and action leaders running various social ventures, or social enterprises, to share on their experiences. The event, opened by the gracious Rt. Hon. Speaker, Rebecca Kadaga, was a success by all measures. Hosted by the Victoria University, the event was a full house, started on time, and ended on time. Social Enterprises in Attendance The event, organized by Hedge Uganda, was attended by various social enterprises in-house, including Mara Foundation, GoBigHub.com, FinAfrica Incubation Space, Voto, Runis Media, 40/40 Foundation, Outbox, Angels Hub, Unreasonable East Africa, Barefoot Lawyers, Medical Concierge, WhatsApp Doctor, UIRI, CURAD, as well as others. Why Run Social Enterprise? Running a business is hard enough, now add on achieving a social value as well! The really essential part of the discussion is "Why use social enterprise?" Or, why would anyone want to start a social enterprise? We've clarified three key reasons: To meet a need in the community or the local market not met through traditional business models Advance or achieve a specific social mission Contribute to the financial sustainability of a non-profit organization A good social enterprise actually contains all three of these components. The really successful ones have all three, but really understand which is their priority. Success Factors Among the success factors listed included: Ask for Advice First, Money Later This holds true for most forms of entrepreneurship: "Ask for money and you'll get nothing, ask for advice and you'll get money." If you have access to those people who might be able to help financially, these are probably the kind of people who can also offer advice, networking opportunities, potential sales leads and more. Talk about this stuff first rather than going in with the pitch for funding because, even if you don't get money, you'll get plenty of free wisdom and useful connections. If the conversation between you and the potential donor keeps going, well, you never know where it might end up. Clear Vision There is need to be very clear on the final picture that you, as owner of social enterprise, seeks to see, at the end of your project, or when your project shall be successful. When my project is successful, do I see water accessible, energy affordable, children mortality improved, etc. You're doing this, with or without them Your project needs to go ahead whether you get donations or not. Or at least that's the impression you should always give. People admire determination, vision and also feel more secure if they know the project doesn't rest entirely on them (that's your job, social entrepreneur). So, talk about who else is on board already, talk about what more you could do if they joined in, too. Be clear and short Your emails should have no more than three or four lines, punching out exactly what you're doing, what you're asking for, what you're offering in return, and what to do next. Broader details should be in an attachment. In the attachment (which should absolutely be no longer than one A4 page), use bullet points not prose. Focus on what both of you will get if the donation or partnership goes ahead. Talk about your experience – and your team's – to re-assure the donor. Understand that a social enterprise is still a business While it’s important to want to do positive things for the community, another key goal is to create a sustainable business. Regardless of being a value-based business you need to be able to compete on the normal business stuff on the quality of your products, the price point – all of that. A brand needs more than just its charitable side in order to succeed. You have to have a product you’re trying to sell be equivalent or better than what people can buy off the shelf anyway. At the end of the day people are self-interested. The product has to be of the right quality to start with. Brand Your brand isn't just your logo. It's who you are. It's your network. You need more than just your mom's good word--unless your mom works for JP Morgan Chase--to get your social enterprise started. You need credible social capital. You need to gather credible supporters whose shoulders you can stand-on and who'd put their reputation on the line because they believe what you're doing can make the world a better place. Think long-term Every enterprise should have at least 5-10 year strategy, with clear targets, milestones, and strategies to reach them. Keep yourself afloat It's important to keep what little money you have in the business. Writing opportunities, speaking engagements and consultancy work are three good ways to earn a wage while the social enterprise grows. The Question Not Asked One of the main questions that should have, and was not asked, was where they had failed. This would have enabled current, and soon to be established social ventures to benefit from experiential advise for wisdom. As the Chinese say, “by three ways we may gain wisdom-reflection, interrogation, and experience-and of these, experience is the most effective, and yet the most painful, hence the need respect elders for their experienced mistakes.” Some of the common mistakes would be not doing the above, inevitably, and others below: Savior Mentality The main challenge is wanting to solve all problems, and save the world. The idea is to note that a social enterprise is a business, and hence, what cannot be done, should not be promised. Further, there is need for specialization, and hence, partnership, so that, what we do not do, or cannot do, we refer to our partners. About GoBigHub.com GoBigHub is a for profit social enterprise program with a 10 year target of being in 1,000 African cities and contributing to at least 1% of the GDP of Africa through connecting local entrepreneurs to local investors. GoBigHub believes that the solution to Africa’s poverty, unemployment, and low productivity, lies in (1) connecting local entrepreneurs to local investors to access affordable capital; (2) connecting start up entrepreneurs to successful entrepreneurs for business mentorship; (3) providing private equity investment in scalable youth and women enterprises at maximum of USD. 5,000 per ticket; (4) sensitizing individuals, with special focus on youth and women, to form business clubs and investment clubs to leverage on social capital; and (5) promoting October 10th as world employers day (BigBossDay), where employees anonymously thank their employers for offering them an opportunity to build their careers and earn a living. GoBigHub is leading the move away from grants, promoting trade, not aid. GoBigHub charges 5% of the successful deals arranged. About Ojijo Ojijo Pascal, a lawyer, author of 49 books, public speaker, entrepreneur, investor, performance poet, armature pianist, speaker of 19 languages, believer in open religion, and Inua Kijana Fellow, is the Founder & Lead at GoBigHub, a for profit social enterprise with a 10 year target of being in 1,000 African cities and contributing to 1% of Africa’s GDP through connecting entrepreneurs to investors and mentors locally. He is passionate about the role of enterprise in fighting Africa’s challenges of poverty, unemployment, and low productivity by promoting trade, and not aid, and building better and sustainable livelihoods across Africa. Ojijo is a consultant in communication skills (public speaking, strategic planning, and writing); expert lawyer (ICT law, financial services law, law firm management, and legal rhetoric); a public speaker and coach on financial literacy and personal branding; and a consultant in collective investment schemes (private equity funds, investment clubs, provident funds, and cooperatives). He is the creator of chapchap financial literacy board game, gosacco.com investment clubs and saccos software, commonsenseapp.net mobile app, volunteeringfriends.org, allpublicspeakers.com, naniwapi.com, achibela.com, ugstick.com, gobighub.com, luopedia.com, and lawpronto.com. Read Ojijo's Complete Profile Here. M: +256776100059. E: ojijo@gobighub.com