One of the appeals of entrepreneurship might be to become your own boss. But going into business for yourself doesn’t mean that you’ll be the only person who benefits from your enterprise. Here, R. Kirk Huntsman discussed the trend of social entrepreneurship.

1. THE RISE
of social entrepreneurship
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2. THERISEOF
S O C I A L E N T R E P R E N E U R S H I P
The Rise of Social Entrepreneurship
June 9, 2016 by R. Kirk Huntsman (Edit)
R Kirk Huntsman on the rise of social
entrepreneurship
One of the appeals of entrepreneurship might
be to become your own boss. But going into
business for yourself doesn’t mean that you’ll
be the only person who benefits from your
enterprise.
Helping others is often a key part of being an
entrepreneur. In fact, many entrepreneurs are
turning to social entrepreneurship or using a
business platform to give back to others.
According to a report by the Global
Entrepreneurship Monitor (GEM),
exponentially more people are interested in
—and pursuing—social entrepreneurship.

3. Look no further than Toms, the company
that’s at the forefront of the “one for one”
business model that helps a person in need
with every product purchased. Toms began
with a simple goodwill idea that turned into
a global movement and a profitable
business. The company fulfills this promise
with various divisions, including Toms
Shoes (that matches every pair of shoes
purchased with a new pair of shoes for a
child in need) and Toms Eyewear
(purchases in this department help restore
sight and supports sustainable community-
based eye care programs). Since 2006,
Toms Shoes has provided over 60 million
pairs of shoes to children and Toms
Eyewear has restored sight to more than
400,000 individuals.
S O C I A L E N T R E P R E N E U R S H I P
W H A T I T
M E A N S

4. But there are smaller ways to
incorporate social
entrepreneurship into a
business model, says a recent
Forbes article about the GEM
study. For many people, social
entrepreneurship is about what
Siri Terjesen calls “people
starting any initiative that has a
social, environmental or
community objective. Terjesen
is one of the GEM study’s co-
authors and a professor at
American University.
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5. That said, true social
entrepreneurship in a business-
model sense is not for everyone
—and should not be for
everyone.
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6. In a 2012 Harvard Business Review
post, “Not Everyone Should Be a
Social Entrepreneur,” Lara Galinsky
says:
“Most members of this generation
will not be social entrepreneurs, and
they shouldn’t be. But if we can
channel their altruism and give
them the tools, methodologies, and
frameworks from the most
successful social entrepreneurs, they
will be change-makers, champions,
and supporters of the work. They
will make meaningful contributions
to the world not by founding
organizations but by bringing their
best selves — their heart and head
— to their work.”
S O C I A L E N T R E P R E N E U R S H I P

7. If you’re thinking about creating a
new social enterprise—or
incorporating a social enterprise
into your existing business model
—do your research. For starters,
Naomi Enevoldson’s website is a
great place to begin with helpful
articles that help you answer
questions, like “Is Social
Entrepreneurship For You?” and
“What Is a Social Entrepreneur?”
Whenever, and however, you decide
to fulfill your desire to do good and
give back, never underestimate the
power of one to help many.
S O C I A L E N T R E P R E N E U R S H I P

8. A PRESENTATION
by
R. Kirk Huntsman