Social enterprises have seen a huge growth in the past few years with many people trying to do good regardless of whether doing so entails helping the community, preserving the environment, or resolving a social issue all while keeping customers satisfied.
It’s no doubt that it can be difficult to set up a social enterprise especially when you have the desire to do good but don’t know where to start from. Whether you’re setting up a social enterprise or transforming your existing business into a social enterprise it’s advisable to invest in a social enterprise toolkit.
You may be halfway through the setup process and you’ve been doing just fine but you still need a social enterprise toolkit that can provide both financial returns and positive social impact.
If you’re still hesitant, keep reading - we’ve highlighted some benefits of investing in a social enterprise toolkit.
1. Improved Efficiency
You can operate more effectively by streamlining procedures and workflows with the aid of a well-designed social enterprise toolkit.
A good social enterprise toolkit will increase the productivity and efficiency of your employees. This toolkit provides templates for business plans, financial modelling and marketing strategies that can guide them in delivering desired output.
An investment in a toolkit can increase productivity by giving you access to a set of tools, procedures, and resources which you can adapt to your local context and condition to support your social enterprise endeavours.
2. Increased Impact
When you use a social enterprise toolkit, you can better track and measure the impact of your social enterprise. This makes it easier to demonstrate the effectiveness of your programs and initiatives.
Your toolkit breaks down impact and impact measurement and guides you on how to set key performance indicators to help you create your desired impact.
It has always been a challenge for social entrepreneurs to measure social return on investment. A good social enterprise toolkit can take off some burden by guiding you on what to look out for to ensure you are not only increasing impact but demonstrating your social impact to funders.
Leverage these resources to improve your operations and increase your positive impact in the communities you serve.
3. Enhanced Collaboration
Social enterprise toolkits often include features that facilitate collaboration and communication among team members, making it easier to work together to achieve common goals.
Purchasing a social enterprise toolkit can improve teamwork by giving your team members a shared set of tools and resources that make it easier for them to collaborate. The toolbox may contain materials for training and development as well as instruments for work tracking, communication, and project management.
Your team members can learn how to work together, share information, and pursue shared objectives more easily when they have access to a common toolkit. Moreover, social entrepreneurship toolkits frequently include components of sustainability and social responsibility which can support a culture of cooperation and common purpose.
4. Better Decision-Making
You can make better judgments about your programmes and efforts if you have access to the data and analytics given by a social business toolkit.
A good social enterprise toolkit guides you and provides a structured framework for identifying key stakeholders, assessing social and environmental impact, getting and managing finance and setting up your enterprise. As a social entrepreneur you want to be making the best decisions that can increase profits and help you create a social impact.
Also, your employees can begin to make more informed and effective decisions that are aligned with the business mission and values. This way, you’re not the only one with an understanding of the enterprise but the ideas and decisions that they make in their day to day activities are guided by the social enterprise toolkit.
Additionally, investing in a toolkit can help you to stay up-to-date with best practices and emerging trends in your field which will ensure that you don’t get left behind.
5. Cost Savings
By automating certain tasks and processes, social enterprise toolkits can help you save time and money.
Investing in a social enterprise toolkit can save costs by providing a comprehensive set of resources and guidance for starting and running a social enterprise, which can help avoid costly mistakes and streamline processes.
When you invest in a toolkit, the funds you would have used to conduct volumes of research and probably hire a consultant to guide you can be diverted into starting projects right away!
The toolkit may also provide access to a network of other social entrepreneurs, potential partners, and investors, which can help reduce marketing and networking costs.
Using sustainable and socially responsible practices with the help of your toolkit can help attract customers and promote brand loyalty, which can lead to increased revenue and cost savings in the long run.
Overall, investing in a social enterprise toolkit can help you improve your efficiency, increase impact, and make better decisions, all while saving time and money. UnLtd provides a free “Start, Sustain, Impact” social enterprise toolkit you can download to guide you through the best way to successfully launch your social enterprise and enjoy the benefits we’ve listed in this piece.
If you’re a social entrepreneur and you’re interested in a personalised toolkit check out UnLtd Social Entrepreneurship Awards Toolkit.
For ideas or a more in-depth look at some of the tools relevant for your social enterprise and reaping the benefits we’ve looked at, check out our post, 10 Must-Have Tools for Any Social Enterprise.