COMMUNICATING YOUR SOCIAL IMPACT
An area of strength for your business is the ability to communicate your social impact. You realize that your "social impact" isn't primarily the number of people your business serves, but rather the number and stories of the lives who have been positively changed through the support of your business. The people who read these stories are likely inspired and encouraged, and invested in your business because they feel they are contributing to solving an important problem by supporting your business.
A word of caution, however: since you may struggle in Actionable Measurement (described below), you may be at risk of misrepresenting the scope or depth of your social impact. If you're not careful in how you communicate the stories, you may risk customers and investors losing trust in your business.
OPPORTUNITIES FOR GROWTH
ENGAGEMENT OF PEOPLE MOST AFFECTED BY THE PROBLEM
One area where you struggle is in engaging the people most affected by the problem you seek to solve. You likely understand in theory that your very business survival depends on your ability to deeply understand the problem from the perspective of those you serve, and on your ability to understand how your solution fits into their context. But you may be unsure of how to practically develop strong and trusting relationships with the people most affected by the problem. This puts at risk your ability to adapt your solution to the experiences of the people who are experiencing the problem and may ultimately mean you will not create positive social impact.
The good news: You have a strength in focusing on the positive changes happening in people's lives through your communication. This may serve as a foundation of trust, that people most affected by your work can know that you are truly seeking to see their lives change positively. This may allow you to build greater mutual trust, which will result in an improved solution over time.
Another area in which you struggle is in Actionable Measurement, a term coined by the Gates Foundation. You either do not yet collect data that you can use to improve your business or do not know how the data you have can be used to improve your business. This will put you at risk of not being able to improve and adapt your solution to the inevitable changes that occur in the context of the problem you are seeking to solve.
The good news: Once you're able to know the social impact your business is creating, you can communicate your impact to increase customer loyalty and/or investor interest.
TAKE THE NEXT STEP
If you'd like to explore how you could further increase your social impact, sign up for your complimentary consultation here. In this 45-minute strategy call, I'll help you identify specific actions you can take to increase your social impact.
START LEARNING MORE
You will receive helpful articles in your email over the next couple of weeks. In the meantime, head on over to this article on reconnecting with the people most affected by the problem.