Tim McCarthy and the Business of Good

Newsletter - "What Would You Like to SEA Change?" by Tim McCarthy

Jun 1, 2014 4:13:00 PM / by Tim McCarthy

So if you have ever thought to yourself – if I only had the resources, I would [do this great thing] to change the world for the better – now is your chance to unleash your entrepreneurial spirit and do as Gandhi said, “Be the change you hope to see in the world.”

Picking up where Civic Innovation Lab left off, SEA Change, Northeast Ohio’s new Social Enterprise Accelerator, was formed as a force multiplier for funders to start, scale and sustain social enterprises. SEA Change seeks to provide entrepreneurs with the coaching, capital and connections needed to succeed. An impressive (and growing) group of collaborators believe SEA Change offers a fresh approach to how accelerated business development methods can be applied to organizations with social missions.

So what is social enterprise? Social enterprises (either for profit or nonprofit) apply commercial strategies to 1) generate social and economic impact, and 2) produce a scalable and sustainable business model. A scalable and sustainable business model generates revenues based on a market demand for goods and/or services, and those revenues increasingly exceed the enterprise’s expenses. The “profits” are reinvested into the social mission of the enterprise in order to maximize its mission impact.

Edwin’s Leadership and Restaurant Institute (www.edwinsrestaurant.org) is my favorite local example of what it means to be a social enterprise given their balanced approach to both making a mission impact and making money. In fact, watching how hard Brandon Chrostowski and Matt Fieldman (and others, I’m sure) worked to get their concept off the ground was the original inspiration behind SEA Change. I’m certain there are many more people like Brandon and Matt in our community who want to make a “profound or notable transformation” – which is the very definition of the word “sea change” according to Webster.

So do you have a business idea to improve your community, or even the world, in a self-sustaining way by generating revenue through the selling of goods or services? If so, then I encourage you to be part of SEA Change.

With over $50,000 available in seed funding, with another $10,000 available to collegiate social enterprises and $5,000 to high school social enterprises, there has never been a better time to begin pursuing your dream. In the words of Goethe, “Whatever you can do, or dream you can do, begin it. Boldness has genius, power, and magic in it. Begin it now!”

The first SEA Change event is on Friday, June 13th. For more information and to register, go to www.seachangeneo.org – and don’t forget to tell a friend!

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Tim McCarthy

Written by Tim McCarthy

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