In this module we will cover:

The first step in any social venture should be to define your ultimate social impact goal. This means that you need to define:

Problem, Solution, Vision and Mission are the critical components of what we call your Theory of Change. They are your compass to steer by. All decisions made by the social venture should be rooted in asking ‘Does this help us achieve our Vision? Is it consistent with our Mission?’ Without this compass, social entrepreneurs risk going adrift when confronted with the myriad of tough business decisions that will come up daily.

Investor Tip

A clear Theory of Change is critical for bringing on board social investors. Think of social investors as people who wish to back ventures that achieve specific social outcomes. It is not just your ability to generate profits that will attract social investors; it is also your ability to spell out clearly how you will impact the world and achieve those outcomes.