Well, here we are again at the close of another summer. I always feel like these months slip right through my hands – which is probably why I’m writing this blog about time management. Over the past few months, I’ve found myself learning my way into innovation and entrepreneurship in a way that is sufficiently self-directed.
As part of the completion of my minor in Indigenous Studies at Mount Royal University, I had the opportunity to study on the island of Hawai’i for three weeks with over 20 other students. We were there to study aloha àina and activism – as it pertains to the Kanaka Maoli communities. In the same vein, I was also there to start building relationships for my business. I had just started my time as a Trico Foundation summer student, and felt that this opportunity would be a great way to delve into some of the specifics around my venture, Sarjesa Inc., and its future growth.
No matter how strongly you believe them, many of your views and beliefs about your venture are best guesses. As you move forward it is important to: have an understanding of what you need to be true in order for your social enterprise to achieve the social and financial goals you have set and find out, in the cheapest, fastest, most effective way possible, whether they are true.
While blending a social mission with an entrepreneurial model can be powerful, it can be surprisingly tricky. However, by mapping how your social model impacts your market value and the degree to which your social model addresses your customer’s needs map (and how these two aspects interact) you have the opportunity to identify a number of possible pressure points to keep an eye on as you move forward with your social enterprise.
Effective learning is shrinking your feedback loops as much as possible: Everything you do that really matters should either confirm your thinking or teach you something new, and it should do so as cheaply, efficiently and quickly as possible. Effective learning is knowing what to test, how to test, and how to learn from the results of that test in a way that you use to improve your efforts and impact.
As a new venture or an existing venture that is looking to reach new customers, the first step to getting your customer groupings into a manageable bite-size pieces is finding the subgroup within your potential customers that share the traits of your ‘early adopter’ customer.