Giving Compass' Take:

• Here are five steps to creating a meaningful strategic plan to start a socially impactful business.

• What outcomes would donors want to see from a social impact business? How can funders help provide feedback?

• Read about choosing the right social impact business model.

An entirely new generation of workers are interested in work that matters,looking for innovative companies they can trust are making a difference. Are you self-motivated and looking for a brand new career pathway that utilizes both your entrepreneurial motivations and your desire to make a difference?

Celebrate your best qualities by combining your passion for giving back with a well-designed business plan to start a socially impactful business. Here are some tips to help get you started.

  1. Jump-start your motivation. Socially impactful businesses harness innovation in order to structure a business model around giving back. Studies show that corporate social responsibility and social impact are critical for recruitment, whether you’re already an entrepreneur with a solid business plan or just starting out.
  2. Determine your cause. Successful businesses begin with individuals who are connected to their cause. Take Nidhi Garg, an alumna of Open Campus, The New School’s destination for continuing and professional solutions to support your career aspirations.
  3.  Identify your transferable skills. Stand out from competition by identifying what sets you apart. As an individual, you bring something to the table that is authentic and your own, in the form of your knowledge and technical know-how.
  4. Do your research. After considering what sets you apart from others by diving into the social issues most important to you, search for successful organizations that you admire. Deepen your understanding of the fields or industries in which you hope to work in order to strategize best practices for achieving scalable impact within that system.
  5. Acquire new skills and strategies. Developing a business venture that is both sustainable and scalable can require a particular set of skills and knowledge.

Read the full article about starting a socially impactful business at Causeartist.