What Is A Sociopreneur? Definition, Benefits + Examples
Entrepreneurship has been having a moment – opportunities, resources and tools abound. But what’s really cool is how giving back and building impact brands have been taking hold in the space. Enter the age of the sociopreneur.
The idea of putting people and society before profit is becoming increasingly expected by consumers. And it can actually be a strong, differentiating asset for brands who commit.
From CSR (Corporate Social Responsibility) to ESG (environmental, social, governance) goals, waves are being made – especially by entrepreneurs – and I couldn’t be more excited.
So let’s start with some quick definitions, before looking at some benefits and examples of social entrepreneurship.
What Is A Sociopreneur?
Buzziwordiness aside, social entrepreneurship, or sociopreneurship, begs immediate attention.
After all, we live in a pretty social world. But what is it? Or rather, who is it?
A sociopreneur is someone who builds a business or brand to address social issues. They leverage their business to promote and support social awareness, change or action.
It’s a laudable approach and flips the old script on its head. Personally, I have the idea that if everyone gave more than they took, we’d all be affluent.
So let’s look at some more of the awesome benefits of social entrepreneurship.
4 Core Social Entrepreneurship Benefits
When a concept’s primary focus is giving back and promoting positive change, it’s inherently beneficial. So yea, social entrepreneurship is good, we get that.
Still, ironing out some specific reasons why is worth more discussion.
Here are a few of my favorite perks of sociopreneurship.
1. Joining and strengthening the social changemakers community
If two heads are better than one, then a whole group must be…well, way better.
Your talents and contributions are instrumental in strengthening and expanding social change efforts and changemaking communities.
2. Inspiring others, and fostering a domino effect
Have you ever seen that Kindness Boomerang video, featuring ‘One Day’ by Matisyahu? If not, check it out – it’s a good watch.
It also sums up the main point here. Doing good and helping others tends to have a domino effect on people. When someone does something nice for me, I’m more inclined to do something rad for someone else, in kind.
3. Promoting awareness and education on important social issues
A core function of social entrepreneurship is promoting social change and awareness.
Sometimes, part of the problem is a lack of awareness and education on a certain subject, so combining business with social education seems like a pretty sweet solution.
4. Helping to create a healthier and more equitable future for everyone
I’m a firm believer that we all do better together. I may be a dreamer, but I like to envision a future where equal opportunity, policy and representation are subconscious — you know, the norm.
And social entrepreneurship is another awesome tool to help get us there.
6 Examples Of A Social Entrepreneur In Action
This list is not exhaustive. But I’ve tried to include a good variety of entrepreneurs who deserve mention.
If you’ve got a sociopreneur in mind that I haven’t included, leave a comment below, I’d love to hear from you!
Otherwise, let’s jump in.
1. Bill Drayton
A name to know in the sociopreneur space, Bill Drayton tops a lot of lists.
Bill is one of the early pioneers in the social entrepreneurship space and founded Ashoka: Innovators for the Public, which is an initiative that supports changemaking and sociopreneurship on a global scale.
Bill is also the chair of Youth Venture, Community Greens and Get America Working! – it seems he keeps busy.
2. Blake Mycoskie
You may not know his name, but you’ve likely heard of his company: TOMS Shoes. It’s a fan favorite as far as impact brands go, popular for their One for One shoe-donation model.
Blake is an entrepreneur and philanthropist whose vision grew out of traveling and seeing children’s hardships firsthand – a lack of education, basic care and of course, shoes.
Blake and his company have partnered with a variety of organizations and he continues to expand on his giving model – so needless to say, I’m excited to see what comes next.
3. Jeffrey Hollender
Jeffrey Hollender is yet another sociopreneur whose business name is probably more household than his own (literally).
You’ve probably heard of his company, Seventh Generation. It’s a popular brand that creates natural, environmentally conscious products for the home.
Besides his staple brand, Jeffrey is also an adjunct professor at New York University, co-founder of Hollender Sustainable Brand, chair of American Sustainable Business Council and board member to other organizations. He’s a busy guy.
4. Shiza Shahid
Shiza Shahid is another name that pops up on a lot of sociopreneur lists.
She is the co-founder and brand ambassador of the Malala Fund, working directly with Malala Yousafzai and also the co-founder and co-CEO of Our Place, a kitchenware company that focuses on the lack of options for multiethnic American kitchens.
With a keen focus on human rights, empowering women and girls and equity, Shiza is sure to sit at the top of any worthwhile list.
5. Muhammad Yunus
Muhammad Yunus is doing amazing things – as a banker. And I know what you’re thinking, banking and finance isn’t exactly the first industry to pop into mind when you hear “social entrepreneurship”.
Muhammad founded the Grameen Bank in 1983, empowering low income borrowers to break out of the cycle of poverty (something he won the Nobel Prize for in 2006).
And here are some really inspiring facts: 90% of its borrowers are women and their microcredits are paid back at a rate of 97%. Amazing.
6. Rachel Klausner
Rachel Kausner is an entrepreneur and founder of Millie, a Public Benefit Corporation designed to make giving and creating social impact programs simpler.
Rachel and her company have partnered with hundreds of nonprofits and impact organizations to help promote her mission of connecting companies, teams and nonprofits to streamline giving and creating social impact programs.
Pretty sweet if you ask me.
How To Support Social Entrepreneurship
Support better representation with your wallet
For example, shopping at Black-owned businesses
Invest in equitable brands through socially responsible investing (SRI)
Look for brands with strong ESG (environmental, social, governance) goals
Do more digging and research how to make change and how you can change things in your own life to support more impact initiatives
Teach others what you know and challenge assumptions or models that work against sociopreneur objectives
Never settle and never stop learning or challenging the status quo
Become a social entrepeneur yourself
What’s Next? Tech, Innovation + Change
Things always change. And things are changing more rapidly than ever before — but I think for the better.
Admittedly, I am forever an optimist.
But as that quote from Martin Luther King Jr. goes, “…the arc of the moral universe is long, but it bends toward justice”.
So here are a few things that have been on my mind lately.
I’d love to hear your thoughts below also — so leave a comment on what you think is next for technology and the sociopreneur space!
AI and creativity will increase productivity and creative, innovative solutions
NFTs and blockchain technology offer exciting new opportunities for creating and decentralizing change — both at the community and global level
Access to affordable and reliable internet infrastructure will continue, supporting more progress initiatives and boosting global equity for digital opportunities
The internet of information and social media will mature and evolve towards more accuracy, equity, transparency, awareness, respect, education and trustworthiness — which will empower more micro change-making decisions on an individual level
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