What is social entrepreneurship? What is it in for me and why have we written a blog post about it? We have received lot of questions why is our app free to use. One of the reasons is that we want to support entrepreneurs on increasing their sales. This “want” is something we are proud of, we believe in social entrepreneurship.
What is social entrepreneurship? There are organizations that are fully non-profit and those like SalesFollow that blend their business into making revenues, which we do from our team version plans, and giving back to society. John Elkington and Pamela Hartigan have categorized companies in social entrepreneurship into three categories:
- Leveraged non-profit. Practical example on this case is a financial service where entrepreneurs can apply for funding through micro loans or crowd funding. Aim is to use capital to leverage entrepreneurs possibility to run business
- Hybrid non-profit. Company in this category is using their money they gain from some other activities to give back to society.
- Social business venture. This kind of company is generating revenues from the social entrepreneurship in some means and is reinvesting the generated revenue back to expanding the existing social entrepreneurship operations (https://en.wikipedia.org/wiki/The_Power_of_Unreasonable_People)
It is slightly hard to categorize SalesFollow as in part we are providing a start-up fee even for our partners for sharing SalesFollow, hence we are leveraging our eco-system with providing money for starting their operations. In practice this means we give you $90 for first $100 revenue you can bring in. Secondly and perhaps foremost we are using our existing funding, revenue and cash to fund our FREE SalesFollow plan. Thirdly we also reinvest generated revenues back to the model we have created. Regardless of what category we could be labeled as a company or if we are in every category, we in SalesFollow are clearly on giving back to society. Our give back is also simple: We have made our application free for entrepreneurs. Already tens of thousands of entrepreneurs have downloaded our app around the planet and are using it to close more sales. Furthermore we want to support local entrepreneurship by offering possibility to earn money from sharing our app to your own contacts and customers. This model we think enables you as entrepreneur even to increase your existing product offering and thus unlocks possibility to increase your income. Keep on sharing, we surely will!