March 2022
If you are looking to begin a social entrepreneurship, you can facilitate it through e-commerce. In this online age, e-commerce has a huge place in social entrepreneurship. Many major online retailers like to use their e-commerce platform for their social projects every day. We put together some tips on how to use e-commerce to grow your social entrepreneurship.
Tips to Use E-Commerce to Fund Your Social Enterprise
Know Proper Social Entrepreneurship
Business philanthropy is not something that can be faked. The course for proper social entrepreneurship comes with education and experience. There are many college-level courses in business, sociology, or social work that can give you some background information on your cause. You also can gain experience in your social cause through internships or volunteer work so you can have the knowledge and a clear understanding of your cause. If you can combine a good amount of education and hands-on practical experience, that can prepare you for this endeavor.
Figure Out Your Best Pathway(s)
One huge decision you will need to make is your best distribution method for your entrepreneurship. You will need to discover which e-commerce platform (Shopify, Wix, Big Cartel, etc.) will be the best for your company. You will also need to make sure that the e-commerce platform that you choose aligns with your company’s values.
Do not rule out the large distributors such as Amazon and eBay for distribution, either. If your product is something that can get marketed to the masses, these retail sites may be the best outlet for the greatest exposure for your social cause.
Split Profits
You can also use your pathways to distribute funds to different receivers, or split the profits. Whenever your profit from sales comes in, the funds are divided between covering your operating costs, another charity, or employees.
Through Strategic Partnerships
Everyone that you work with on your cause will have to have the same general values as your company. This includes whatever partnerships you have with charities, organizations and/or influencers who will have to be in sync with your values; otherwise, you will lose credibility.
You can also use these strategic partnerships to drive traffic to your website. Everyone will have the same agenda to help your cause and help you reach your business goals. In addition, if you sell a partner’s products on your site, it can be another way to build win-win relationships.
Inner Works Pro can show your company how to get competitive intelligence to grow your business. We know what business trends to watch to help you reach your business goals. Contact us today to get started.