What is purpose-driven entrepreneurialism? Over the past decade, leaders in ministry, education, business, and the non-profit sectors have become enamored with social entrepreneurship. In today’s climate of political and social activism, more and more people are becoming socially conscious. They are troubled by what they are seeing and hearing on the news and they want to become part of the solution. This frustration has given birth to the social entrepreneur.
The notion that you can marry an income producing business idea with a philanthropic cause has propelled a lot of people to action in 2019. The “earned income” model is when the business makes a profit by selling a product or service that offers value in the market and when the customers make their purchases, a portion of the proceeds will be directly diverted to support a stated cause, whether it’s rescuing individuals entrapped by human trafficking, providing food and water to children in need, or creating microloans to help individuals living in third world countries start an enterprise that can uplift an entire community.
Today, people are very attracted to business concepts that use a social entrepreneurship model because they feel they are getting to participate in solving a social problem when they spend money on something they want or need. Not only are these types of businesses attracting customers, but this model has changed the landscape of entrepreneurialism altogether. There was a time when being a business owner was about two things: making a profit and being your own boss. Today, people are looking for more than just money and autonomy. In Rick Warren’s book, The Purpose-Driven Life, Pastor Warren points out that personal area that matters most to people. It’s answering the question, “Why am I here?”
There have been many articles published about why people hate their work, but when you talk to people individually, most will tell you that the number reason they hate their work is because they feel what they do doesn’t truly make a difference. That sense of helplessness and insignificance can be paralyzing but those feelings have also sparked individuals to start searching for what fuels and motivates them. This is where ingenuity is born.
The 21st Century Business model almost demands that business and philanthrophy be inextricably linked. No longer can you just say, “We donate to worthy causes” and be done with it for the purpose of a nice tax write-off. No! The millenials will sniff that self-serving philanthrophy out very quickly. We live in a generation where it’s essential that purpose and significance must be embedded in the DNA of your business. Look no further than Chick-Fil-A if you don’t believe the model works. Truett Cathy was way ahead of this time.
At Abundant Path, our mission is simply this. We want to cultivate a climate where people can leverage the expertise of our community so that they, too, can embark on the path of abundance. Making money is awesome. But making an impact is even better.
To your success.
Bill
