Deloitte University Press coined the phrase, “The Solution Economy”. In my world of mentoring and speaking the popular phrase, “Heart Centered Economy” has arisen as we’re in a relationship based world where buying decisions are becoming more heart based motivated. Social Entrepreneurs have embraced this heart centered solution economy idea wholeheartedly.
The recent rise of social entrepreneurship is seeing entrepreneurs going into business from a heart based desire to make a big difference and address some of the world’s toughest problems using a triple bottom line value system – People, Planet, Prosperity. However, just because a business is set up for social or planetary good doesn’t mean it escapes the same statistics of failure as traditional business models.
The Social Entrepreneur has complex criteria that need to be met in order to consider themselves successful. The ability to make more money by making a difference so you can go on to make an even bigger difference in the world is paramount. The connection to a higher purpose is important as is the actual change outcomes of the activities the social entrepreneur engages in. Bottom line! The business has to be meaningful, impactful and financially sustaining.
How does, then, the social entrepreneur achieve that when the statistics of success are stacked against them?
What are the keys to success for the social entrepreneur?
In my personal experience as a serial entrepreneur and my current business as The Mission Mentor, I have come to understand that the alignment between the right strategy and the spirit of our ‘reason for being here’, or life purpose, is the critical piece of the success puzzle a social entrepreneur must get right.
It was Steven Covey of, “7 Habits of Highly Effective” who said “If the ladder is against the wrong wall you just end up in the wrong place faster.” To avoid the fate of traditional business the social entrepreneur needs to get their ladder up against the right wall so they end up in the right place faster, otherwise those world problems the social entrepreneur goes into business to address, never get solved.
Here are three keys to getting that ladder up against the right wall and aligning your business or career path for a double triple bottom line that yields successful outcomes – Purpose, Passion, Profit for People, Planet & Prosperity:
1. Do What You’re Here To Do – Making sure your doing what you’re supposed to be doing is so important I wrote a book about it, called Discover What You Are Here To Do. The essence of the book teaches that you have come here to express yourself in a handful of ways called expression modalities.
Everyone has between 5 – 8 expression modalities that when expressed in your business or working life you will feel the greatest joy, deep sense of purpose, passion and fulfilment. You will make the biggest difference and you’re pretty much guaranteed success because it’s the very thing you’re here to do and you have the power of your purpose behind you moving you forward;
2. Monetize In The New Heart Centered Economy – You need to get your monetization model right. Charging for your products and services is not monetization it’s selling and working a job with a self paid salary. Monetization refers to the conversion of an asset into money. Inherent in that activity is leverage. It’s not exchange for cash but conversion of an asset.
The asset throws off the money hence leverages your activity. Your asset can be product and service based, but there needs to be a delivery system that creates leverage in order for it to be an asset. Your assets need to touch people emotionally and move people physically in order to be properly monetized in the Heart Centered Economy.
3. Mindset Alignment – Tony Robbins, The Personal Development Giant said, “Success is 20% strategy and 80% psychology.” We now know our thoughts carry electrical charge and that when we think something repeatedly electrons begin to line up in our brain to create electromagnetism. We begin to magnetize to us the very things we think repeatedly. The problem is much of our thinking is unconscious and we’re not aware of it.
We also know that as much as 50% of the beliefs stored in our brain are inherited from our ancestors. This is why you can wake up one day and realize you are thinking, speaking and acting just like your mother or father even though you had ever intention not to. The brain patterns are stored in your brain.
Mindset Alignment has to do with making sure both your subconscious mind and brain are in agreement with the outcomes and goals you’re working on. To do that you need to first decipher the beliefs that will get you your outcomes, then eliminate the resistant beliefs that stand in the way of achieving that outcome.
If you’re looking to make a bigger difference and either leave the corporate world to build a social business, or are an existing entrepreneur wanting greater meaning and impact, then start your journey by getting your alignment right. Get your ladder up against the right wall so you position yourself for the greatest success across the double triple bottom line – Purpose, Passion, Profit for People, Planet and Prosperity.
Think of it like this! When your spine is out of alignment it hurts and you can’t walk very fast. The further you walk down the path the more it hurts, the more out of alignment you become until eventually you end up with a chronic situation that takes you out of the game. When your spine is properly aligned you can not only walk without hurting, you can walk fast and stay on the path without deviating all the way to mission accomplished. The world sure needs us to be accomplishing our missions with great speed.
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