Building and Scaling A Social Enterprise To Change The World
Mike will be sharing his story and experience of building, funding, and scaling Change Heroes from a 3 person passion project to now a 20 person team and venture funded social enterprise that has helped hundreds of Millennials fundraise over $2M funding over 200 school, library, water, and women’s empowerment projects. As well, Mike be sharing the lessons Change Heroes has learned about “the 5 Motivators of Giving” and how to engage and mobilize a community of Millennials.
Because of this brand recognition and millennial expertise, Change Heroes is increasingly used as a millennial employee engagement tool by Fortune 500 companies
HOW IT WORKS
- Employees Launch campaigns individually or as teams using our personal video platform
- Results are tracked and shared in real-time for 30 days
- They celebrate their collaborative achievement and the corporation uses results as cause marketing.
- Make a list of 30 friends and family
- Record a quick 30sec personal video for each person
- Send out the videos (email & Facebook) and follow up with each person to make sure they watch it.
- 33 people give $3.33 a day for 3 months adds up to 10,000 which is enough to fund a school for 1000 children.
Change Heroes Business Model
- 10% of funds raised
- Only make money by doing good.
How do we monitor Accountability?
- Partner with free the children – They build the schools
- Photo/ Video updates
- Want to partner with UN
What is a Social enterprise:
Organization that applies commercial strategies to maximize improvements in human and environmental well-being. After paying back investors all future profit goes towards maximizing social impact.
5 Motivations of Giving
- Tangible Outcome – We want to know where our money is going
- Personal Connection
- Group Mentality
- Micro Giving – Breaking down into smaller payments
5 Lessons Learned Over The Last 2 Years
- Create a Painted Picture
- Shine the light on others
- Start with why
- Get laser focused with a 12 Week Plan
- Know your Entrepreneurial DNA – BOSI
5 Pillars of a community
- Clean water
- Health care
- Agriculture and food security
- Alternative income and livelihood development.
Simon Sinek – Start With Why
Entrepreneurial DNA: Joe Abraham at TEDxBend
4 Types of entrepreneurs
- Builders – Can create systems and scale fast
- Optimistic – Best at sales, bad at following up
- Specialist – Engineers/ development customer service hate doing sales
- Innovator – Care about product but not so much about the business
Know what you are and find people to complement you. Take the BOSI test.
How to build a school in 3 hours: Taylor Conroy at TEDxJuanDeFuca
For charities like Movember and the ice bucket challenge
- Most givers are millennials
- Millennials prefer giving that is quick online and social
Working with investors
- What’s your business model?
- How big can this get?
- What are your biggest challenges?
- What’s your big vision? Where do you want to take this?
How do you choose investors?
- Match our core values
- Ones that care more about impact than $
- Many VC’s tend to look at exit plans. We don’t plan to sell our business or exit. Our goal is to create maximum impact.
What strategy do you have to attract Impact investors?
- Its a relationship game
- Get them to follow you along
- Show your track record
- Momentum updates
- Show them whats happening with the product
- Word of mouth
- Scientific Research and Experimental Development
- Look for new and novel
- Grants 4 tech companies
- 10,000 – 1 million
- Does it create jobs or IP
- Industrial Research Assistance Program
- Hub offers a dynamic space to accelerate social venture growth by bringing together university resources, peer learning, and business networks.
What I learned from grandma
- Think of your life as a story, fill it with amazing characters adventures and stories
- What heroic legacy & story are you going to leave behind