Ben Simon
Ben S. is a senior at the University of Maryland, College Park studying government and politics and nonprofit management. He brings five years of nonprofit experience, and 23 years of not being able to stand good food going to waste. He is also the Founder of MyMaryland.net, Co-founder of The Love Movement, and a former opinion columnist for The Diamondback. Ben likes songwriting, swimming, Indian food, long walks at 2 AM, and pick-up volleyball. He is excited at the amazing opportunity to scale Food Recovery Network across the country, and sees it as part of a larger movement toward a sustainable, socially just, and prosperous way of life. Ben was recently recognized by ABC News and Uni-vision as one of their Top 10 Social Entrepreneurs of 2012.
Successful Entrepreneurs
Saturday, 9 November 2013
Social Entrepreneurship
Social entrepreneurship is
- About applying practical, innovative and sustainable approaches to benefit society in general, with an emphasis on those who are marginalized and poor.
- A term that captures a unique approach to economic and social problems, an approach that cuts across sectors and disciplines grounded in certain values and processes that are common to each social entrepreneur, independent of whether his/ her area of focus has been education, health, welfare reform, human rights, workers' rights, environment, economic development, agriculture, etc., or whether the organizations they set up are non-profit or for-profit entities.
- It is this approach that sets the social entrepreneur apart from the rest of the crowd of well-meaning people and organizations who dedicate their lives to social improvement.
Social entrepreneur is a leader or pragmatic visionary who:
- Achieves large scale, systemic and sustainable social change through a new invention, a different approach, a more rigorous application of known technologies or strategies, or a combination of these.
- Focuses first and foremost on the social and/or ecological value creation and tries to optimize the financial value creation.
- Innovates by finding a new product, a new service, or a new approach to a social problem.
- Continuously refines and adapts approach in response to feedback.
- Combines the characteristics represented by Richard Branson and Mother Teresa.
Social entrepreneurs share come common traits including:
- An unwavering belief in the innate capacity of all people to contribute meaningfully to economic and social development
- A driving passion to make that happen.
- A practical but innovative stance to a social problem, often using market principles and forces, coupled with dogged determination, that allows them to break away from constraints imposed by ideology or field of discipline, and pushes them to take risks that others wouldn't dare.
- A zeal to measure and monitor their impact. Entrepreneurs have high standards, particularly in relation to their own organization’s efforts and in response to the communities with which they engage. Data, both quantitative and qualitative, are their key tools, guiding continuous feedback and improvement.
- A healthy impatience. Social Entrepreneurs cannot sit back and wait for change to happen – they are the change drivers.
4 Lessons in Success From Millionaire Entrepreneurs
- Accept failure as part of the journey.
- Keep your eyes open for opportunities.
He applied economic theory to the beverage market, and found that the best product should be less sweet: Less calories for the customer, less cost for the manufacturer. Nalebuff knew tea was the world's cheapest luxury good, and teamed up with a former student, Seth Goldman, to create Honest Tea in 26 days back in 1998 (they sold Honest Tea to Coca-Cola in 2011). Nalebuff calls it the "Princess and the Pea" theory, after the children's tale: "If something out there's annoying you, that's an opportunity," Nalebuff says.
- When opportunity knocks, be ready for it.
- There's no set path to success.
7 Things Great Entrepreneurs Don't Do
- They don’t think about work-life balance.
- They don’t try to be what they’re not.
- They don’t do it for the money.
- They don’t have day jobs.
- They don’t give in to fear.
- They don’t have grand visions.
- They don’t have virtual mentors.
Most importantly, real entrepreneurs don’t call themselves entrepreneurs. They don’t do what everyone else is doing. They don’t follow the status quo, conventional wisdom or popular fads. They carve their own unique path. They’re leaders of their own destiny. That’s what drives them. And that’s why they succeed.
http://www.entrepreneur.com/article/229725
7 Ways to Survive and Thrive at a Startup
- Embrace the mission.
- Acknowledge the long hours -- and accept them.
- Set expectations with loved ones.
- Take initiative.
- Fill in the blanks.
- Strive for balance.
- Know when to take a breather.
Question about How to Develop a Culture of Innovation
We see some companies where innovation thrives and others where it's nowhere to be found. What are the conditions that make disruptive innovation thrive?
Every business starts from an entrepreneurial mindset. Somebody decides to deliver a new product or service or feature into the market. As firms grow they may become less forward-thinking and less expansive. They begin to say, "I have a particular market and I want to defend that market or that customer base," and they play defense rather than offense. So, part of it is a cultural mindset. How much are we willing to embrace new ideas to continue expansive, engaged thinking? You have to ask, "Am I willing to allow the sort of conceptual structure of the business to change and to adapt as new people and new ideas or new demands emerge?"
But is changing the fundamental structure of your business is worth the risk?
A lot of entrepreneurs are afraid of giving up control of what they understand, so they don't take advantage of opportunities to change the entire market because they're afraid of change. Look at the business of heating-and-cooling equipment or software. Companies would sell a system to a business. The CEO would have this asset and have to update or maintain it and worry about depreciation. Now, many companies are maintaining ownership of those systems and selling them as a service. They didn't change the product, but they changed the entire business model. That's the kind of innovation that can change an entire industry, but it wouldn't have happened if leaders weren't open to change.
How can you help employees think in more innovative ways?
But is changing the fundamental structure of your business is worth the risk?
A lot of entrepreneurs are afraid of giving up control of what they understand, so they don't take advantage of opportunities to change the entire market because they're afraid of change. Look at the business of heating-and-cooling equipment or software. Companies would sell a system to a business. The CEO would have this asset and have to update or maintain it and worry about depreciation. Now, many companies are maintaining ownership of those systems and selling them as a service. They didn't change the product, but they changed the entire business model. That's the kind of innovation that can change an entire industry, but it wouldn't have happened if leaders weren't open to change.
How can you help employees think in more innovative ways?
First, work on trend-spotting. Have them think through how the world is changing and where your business fits in those changes and over what period of time. Societal shifts in demographics, attitudes, and priorities are huge and can dramatically increase or decrease the demand for business. Your customers might be demanding faster service, more sustainable practices, or something else can really change how you deliver your products and services. What could you be doing now to develop solutions to those future changes? Stay aggressive and forward-looking as opposed to defensive and reactive.
Encourage them to put themselves in the customer's shoes and experience what the customer is experiencing making this purchase or engaging with your company. What are their concerns? How could it be made better? Those are opportunities for innovation. I also like Four Sight Online, a web site that helps you understand the various roles people play in innovation and helps you figure out what talents you bring to the innovation role, which can be very useful in some organizations.
Is it possible to measure innovation?
It depends on what you mean when you say innovating. You have to determine what you're trying to change with innovation and then decide on the best metrics to see how you're doing. You could say we want to generate so many ideas or convert so many ideas into products a quarter. Maybe we want to radically change our service model or our business model, or we want to measure based on revenue. If you want a certain portion of your revenue stream to come from new products, you'd better always be working on developing those ideas. You can't simply break the glass in case of emergency and suddenly be good at innovating.
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Entrepreneurial Culture
For the entrepreneurial business, its culture begins from day one. The culture is a reflection of the values the entrepreneur brings into the business.
Culture is important for an entrepreneurial venture because it is the mechanism that institutionalizes the values of its founders.
Culture serves to socialize new employees. It helps them understand how they should treat the customers, how they should treat each other, how they should act in their jobs, and how to generally fit in and be successful within the business.
Culture is an important part of the overall strategy of the business and helps ensure a growing organization will continue to meet the expectations of customers that were established by the entrepreneur during the early start-up of the venture.
According to Prosek, the key to unleashing that creative energy is to create an entrepreneurial culture based on four pillars.
1. Authenticity
Demonstrate your sincerity by being enthusiastic about entrepreneurial strategies and actions pursued by the business.
2. Commitment to People
Support the professional development of your staff, celebrate exceptional work, and don't forget to have fun.
3. Commitment to the Business
Align an individual's interests with those of the business.
4. Continuous Effort
The work of building a company’s culture never ends.
Sustaining an entrepreneurial culture starts with who you hire. It is essential to carefully screen prospective employees to ensure that they will fit within your culture. An entrepreneurial culture is also sustained by your reward system, by the autonomy and respect you give to your employees, and by consistent communication about your ongoing entrepreneurial vision for the company.
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