This morning, The Mission Center team had the opportunity to meet with David Maislin, CTO of yurbuds and Advisor to our organization, who among other accomplishments can truly be called a web pioneer (he is responsible for developing one of the first email platforms...that's right. He INVENTED this stuff). What he had to tell us about utilizing the web for business development was unexpected, however, in the face of his monumental expertise.
"I don't know everything."
Really?
If David Maislin doesn't know everything, then how can anyone call themselves an expert?
Which is, of course, the point.
There is no such thing as an end-all-beat-all expert in social media, or web development, or anything to do with these new "shiny red ball" avenues - and to claim to be one is to falsify one's credentials. Don't be fooled: social media has tricks, yes, and can be very useful, but it won't survive without attention to basic business practices. The best advice David gave us was to see social media and web presence for what it is: an experiment, which we should not allow to take control of our advertising or marketing or business development policies simply because it is novel, viral, and very cool. For that advice, and his seemingly endless (to those of us more recently introduced to web development) knowledge, we are very grateful for his help.
So what do we take from this experience?
First, it is important to note that while it is impossible not to "play the game" and become part of the social media system, we should all remember that it is constantly evolving, and the best thing to do is to be vigilant in keeping up your presence online. Consistency is key.
Second, original content is what builds your online "cred" - linking to other people's content is interesting but not unique, and won't help your web page/blog/twitter/facebook receive any more traffic. Use your knowledge and expertise to provide the wider community with useful, original information - just like you would in the "real" world, among real people.
Third, David drew our attention to the fact that just as hundreds of thousands of people are joining social media sites, hundreds of thousands are growing weary of the overflow of information and cutting themselves off. 10,000 followers on Twitter won't help you if they aren't relevant - and you won't help them if your content isn't relevant.
Fourth, when looking for a consultant or web design company - be skeptical. Ask tough questions about exactly how the organization plans to deliver on their promises of greater website traffic, e-newsletter readership, etc. Make sure they are up front with you about who will own the server on which your website is hosted - and make sure that you have administrator rights to your company's web presence or social media sites.
Above all, don't take our word for golden - try it out! Social media is an experiment - become part of the process! Don't be afraid to figure it out yourself.
Wednesday, June 30, 2010
Tuesday, June 22, 2010
Tools of the Trade
For social entrepreneurs, the key to success is generally three things:
1) an understanding of the community or environment in which they can make a change
2) the knowledge and expertise to run an organization that can make that change
3) a strong network of connections that can help them link to the important players in their communities and markets
The challenge, then, is to bring all these things together at once. Understanding their individual contributions to the success of an social venture is even more difficult: how, and when, these pieces will fit into the puzzle of the organization is impossible to know. The gambles an entrepreneur must take to get his or her company off the ground are no less challenging when they are taken in pursuit of social good, rather than capital good.
1) an understanding of the community or environment in which they can make a change
2) the knowledge and expertise to run an organization that can make that change
3) a strong network of connections that can help them link to the important players in their communities and markets
The challenge, then, is to bring all these things together at once. Understanding their individual contributions to the success of an social venture is even more difficult: how, and when, these pieces will fit into the puzzle of the organization is impossible to know. The gambles an entrepreneur must take to get his or her company off the ground are no less challenging when they are taken in pursuit of social good, rather than capital good.
Monday, June 21, 2010
A New Model for Social Ventures
What is an L3C? What makes it important? Who cares?
The Mission Center, L3C is a low-profit limited liability company, a hybrid between a non-profit and for-profit company that is considered to be at the cutting edge of social entrepreneurship. For the Mission Center, the L3C is the organizational structure of choice because it:
Yeah, ok. That sounds pretty unique. But what does that mean for ME, in my day-to-day, working at a non-profit.
It means, in a nutshell, that the L3C exists solely to make life easier for non-profits. By providing an opportunity to delegate administrative functions, starting with HR and Accounting, and moving into IT and Marketing, etc., "Non-Profit X" is free to focus on its charitable focus, and can better utilize the valuable time of its employees doing the work they are best at. Under the L3C's PEO model, a shared employees system also allows the L3C to bid insurance and C-level (ex. CFO) personnel at lower rates per organization.
Cool, right? So what's the catch?
No catch. The L3C's unique tax designation makes it accountable to its own charitable purpose: making life easier for "Non-Profit X", "Non-Profit Y", and "Non-Profit Z." Instead of operating as a pure for-profit, whose goal is to make money, our goal is to simplify, streamline, and strengthen the processes and mission of each non-profit we work with. We're here to change the way non-profits do business, and we're proud to be starting in St. Louis.
The Mission Center, L3C is a low-profit limited liability company, a hybrid between a non-profit and for-profit company that is considered to be at the cutting edge of social entrepreneurship. For the Mission Center, the L3C is the organizational structure of choice because it:
- allows The Mission Center to leverage equity in exchange for crucial growth capital, an avenue unavailable to non profit corporations
- is the first for-profit entity to require its owners to adhere to its explicit charitable purpose over the pursuit of profit
- allows social enterprises to be invested in by both charitable foundations and profit-motivated investors while providing a financial return to all
- is a for-profit, which removes The Mission Center from competition over contributed revenue, our client's primary funding source
Yeah, ok. That sounds pretty unique. But what does that mean for ME, in my day-to-day, working at a non-profit.
It means, in a nutshell, that the L3C exists solely to make life easier for non-profits. By providing an opportunity to delegate administrative functions, starting with HR and Accounting, and moving into IT and Marketing, etc., "Non-Profit X" is free to focus on its charitable focus, and can better utilize the valuable time of its employees doing the work they are best at. Under the L3C's PEO model, a shared employees system also allows the L3C to bid insurance and C-level (ex. CFO) personnel at lower rates per organization.
Cool, right? So what's the catch?
No catch. The L3C's unique tax designation makes it accountable to its own charitable purpose: making life easier for "Non-Profit X", "Non-Profit Y", and "Non-Profit Z." Instead of operating as a pure for-profit, whose goal is to make money, our goal is to simplify, streamline, and strengthen the processes and mission of each non-profit we work with. We're here to change the way non-profits do business, and we're proud to be starting in St. Louis.
Subscribe to:
Posts (Atom)