NEWSBYPAMELA HAWLEY

[Ed. Note: UniversalGiving is an online giving and action platform that has a novel model of using corporate advisory sources to subsidize payment processing so that they can operate sustainably without taking a cut of online donations. I invited their founder Pamela Hawley to share more about their model, and what it means for the field.]

Social Entrepreneurship is at an exciting stage. We're seeing social entrepreneurship classes and soon departments -- at almost every major university.  So what are some of the ways we can examine this concept of social entrepreneurship, so it lives up to our standards in providing socially conscious services, and financial sustainability?

When we look at social entrepreneurship, it's a balance between nonprofit/forprofit structures, services and principles. For example, your structure could be a forprofit or nonprofit organization.  Your services need to have some element of public service or a socially conscious product.   If you believe your service is of value (and as a social entrepreneur, you do), strive to find a way to monetize it. Some part of your services needs to generate revenue.  Finally, whatever the structure, lead and manage with forprofit principles of watching your bottom line, having fine-tuned operations and business units. Equally important, demonstrate the heart and care to take care of your team.  No matter how efficient you get as a social entrepreneur, don't forget this important investment in people.