8 elements of mission-driven ventures
June 19, 2015 The NonProfit Times
Although mission is an integral element of the nonprofit sector, a new concept has arisen, known as mission-driven, which means organizations or drives are relying on “earned” income rather than the more traditional sources.
In his book “The Mission-Driven Venture” Marc J. Lane urges readers to remember that good intentions alone will not make an enterprise successful. He argues that anyone thinking of starting a mission-driven venture should be able to answer the following questions:
- Is it likely that enough people would pay enough for the product or service the organization wants to sell to cover costs?
- Are you confident that this venture would drive positive social change?
- Is the venture one that might be scaled up?
- Do you know enough about the industry being entered, or would there be a need to recruit expensive talent?
- Do you have relationships with partners or networks that might provide a “natural advantage?”
- Do you have the interest and ability to run such a business?
- Are you excited to take the challenge on, stay focused, and motivate others, even when success eludes you?
- If you are part of a team, does each member understand their roles, demonstrate the competency and commitment to meet responsibilities and work well with other team members?