Institute for Social Entrepreneurship

Learning to Fail Forward 

Introduction:

One of the most challenging aspects of being a Social Entrepreneur is facing the reality of monumental setbacks. Along the Journey, a series situations and events will signify that you are heading down the wrong path. To others you may be heaqfand of requires a different set of skills and will enlist the support of team members. The process is accomplished through an integrated framework that emphasizes five functional areas that help businesses ensure their success. Often times, businesses lose focus on securing customers so this blog will also emphasize marketing and daily management activities that help the business or venture stay on track. The Institute for Social Entrepreneurship provides students with the help in navigating the transitions.

Blog Text:

Managing through Frameworks

Successful Social Entrepreneurs must focus on the keys to running a successful business venture. The use of the integrated framework will help ensure that daily functions are completed while providing a process in which the entrepreneur and management can focus on the strategic direction of the business. The framework emphasizes five functional areas that help businesses an organization to recognize and respond to opportunities or change. Most importantly, the framework is a tool for managers and leadership to make effective decisions, a road map for success.   The framework includes a series of daily tasks that require an integrated (cross-functional) view to help each team member see how their individual tasks connect together:

Securing Customers – Customers provide the fuel or oxygen for the business to breathe and grow. Managing the curves from planning to implementing is greatly assisted by strengthening the marketing and sales team that secures customers. There are three keys to marketing and securing customers that often get ignored or fewer resources are allocated to support the function as a whole. A brief description of the three keys is out lined below:

Production Development – This detailed steps needed to develop a product or service. The process includes acquiring inventory, manufacturing a product or delivering a service, and the task of placing the product or service within reach of the customer.

Marketing – A scientific process of attracting and retaining customers, as well as the advertising tools used.

Sales – Developing a winning sales strategy and training capable staff is the final piece of the puzzle.

 

Keeping the focus on the Vision

The ability to keep a focus on the vision is the final aspect of transitioning from planning to implementing that the Institute would like to share. The vision and business mission are guided by the business plan. One common mistake is to chase after cash (money) and miss the mark in accomplishing the Business Plan Objectives.

The temptation to alter the course prematurely or to change directions can be devastating.

You as the entrepreneur have to stay and keep the team focused on implementing the business plan and strategy illustrated to the right.

The Institute specializes in helping individuals and organizations face the challenges of transitioning from planning to implementing.

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