Episode 6

Money matters

Keeping on top of income streams, expenditures and projections will keep everything in your social enterprise running smoothly. Growth can only get going in a financially sustainable organisation, so this lesson is about gaining and maintaining financial stability — or even prosperity!

Social Entrepreneurs Discuss

Further Reading

You need to ensure that the products or services you create bring money to the organisation. Whilst planning your prices, be sure that you are considering the total costs and time spent on producing the product or service. You want to ensure that you are making a profit on the individual units you sell so that money returns to the organisation. You often hear the terms ‘net’ and ‘gross’ profit within profit margins. Gross profit is the profit you make after taking away the direct costs of pro...

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Journalists Jonathan Bone and Peter Baeck speak to nine crowdfunding platforms supporting good causes in the UK about what motivates them, how they can help you reach your crowdfunding targets and what advice they’d give anyone launching a crowdfunding campaign. 
Accountancy software can make running your business quicker, simpler, and easier, and there are some great free solutions out there. Check out these options and find the right fit for your business.
Blue sky thinking refers to brainstorming with no limits. With this approach to idea generation, ideas don't need to be grounded in reality. Rather, blue sky thinking sessions are open to all creative ideas regardless of practical constraints. The allure of blue sky thinking is based on the premise that ideas beget more ideas. This resource will explain a little more about this approach to idea generation.


Having a way to track your income and expenditure is really invaluable, so this lesson's activities include a log you can use for your first six months. Don't forget that you can reuse these templates if you want to track further ahead! 

Episode Summary

Unlike many other entrepreneurs, money might not be something you care about or feel comfortable dealing with as a social entrepreneur. Unfortunately, you can't build a social enterprise without getting well-versed in the 'enterprise' half of your social enterprise. The social and financial halves will always work interdependently. Hopefully, this lesson will help you to break down your financial management and get you thinking about making money! 
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