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10 basic steps to start a social enterprise

There are various reasons why people want to open social enterprises. Those can be the possibility of self-realisation, the way to earn money and be independent or the way to help others. Desire is not enough to open such a company. The person has to do some actions before the social enterprie will be created. Let’s study the main steps on the way to the creation of the social enterprise.

1. Answer the question if you are ready to do that.

Usually, the opening of the social enterprise implies various difficulties and problems, it’s a time-consuming process which will not bring the money at once. You have to be patient and wait some time before the income comes.

2. Define the sphere of your activity.

If you have decided that you want to create a social enterprise, ou have to decide what you are going to do. The right idea and direction is half a way to success. You just have to realise, that if the ides seems to be brilliant for you, it doesn’t mean that it will be such for the society. You will have to spend some time and efforts to find the sphere of activity which will bring added value for the society.

3. Elaborate a plan for the creation and development of your enterprise.

A good plan will multiply your chances for success. There is no use starting a new company without a plan of the further development as you will not know in which direction to move. This plan has to describe all the aspects of the future of your enterprise and helps to foresee all the possible problems and the ways of their solving.

4. Calculate.

You have to make an accurate calculation of all the possible expenses in order to be ready tp cover them and to lose this money in case you will have to close it.

5. Define the source of funding.

Those can be not only bank credits but also personal investments, finance lease, various grants and state subsidies.

6. Get surrounded by the professionals.

You have to understand if you will be able to mange the company on your own or you will need the help of the partners.

7. Find trusted business partners.

On this stage we speak about the partners and companies which will help to develop your enterprise.

8. Plan your first advertising strategy.

The way you enter the market defines your future success. Think not only about your business cards, but also about the ways and places of advertising of your enterprise and the budget for that.

9. Study the law.

Any activity is regulated by the law. Study them thoroughly in order to comply.

10. Open the enterprise.

Open the enterprise, but remember that it is only the beginnigof your long way. Its success will  depend on you and your actions.

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