Last week the teams set some big goals and caught a glimpse of the long, winding journey ahead. They’ve now had dozens, if not hundreds of conversations delving deep into their ideas, and the pace has picked up a notch as validation continues.
Here’s a short reflection from one of our young social entrepreneurs, Laura:
This week has been a feast of great speakers. We heard from DK on social media as a research tool; Liz Gibbs from Philanthropy NZ; Ben Gleisner on Business Models; Anna Kominick from Ideas Shop; and three young entrepreneurs a little further along their start-up journey.
Liz Gibbs (above) talked about emerging trends in Philanthropy and investing for social impact. There are estimated 700–800 philanthropic funders in New Zealand, and Kiwi’s are rated 5th most generous in the world. Philanthropy contributes about $2.6 billion to New Zealand communities each year, but surprisingly, only 6% of that comes from business or corporate giving – a big opportunity there. Liz suggested that funders like to see visible strategy, with clear short-mid-long term outcomes – logic modelling and theory of change tools can be really useful for this. Increasingly, funders are looking to be more engaged in the initiatives they support, but are almost always looking for an exit strategy – in that, they don’t want the initiatives they support to be dependant on them forever. This speaks well to the aspirations of social enterprises developing revenue streams that enable them to be more resilient.
Having honed is modelling expertise as a Senior Analyst at Treasury before launching Conscious Consumers, Ben Gleisner is a modelling guru. He walked us through the Conscious Consumers business model, which forecasts the quantitative impact they are having as well as the financials – it’s awesome, I learnt a lot and will be certainly looking to apply this to Inspiring Stories!
The crews really enjoyed the presentations from the young entrepreneurs a little further along their start-up journey who each shared their five biggest learnings so far. Silvia Zuur from Chalkle, Pat Shepherd from One Percent Collective, and Anna Guenther from PledgeMe. All of these org’s are about 2-3 years old, and doing great things for New Zealand. Some common themes across the learnings were the importance of building great relationships and partnerships, being bold – if you don’t ask, you don’t get, and that you don’t have to be a guru at everything – that’s what teams are for!