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Every impact-driven organization wants to maximize its impact portfolio. Having effective impact measurement and management (IMM) can help a social enterprise develop from the early stages of business to the growth stage. This article discusses what social enterprises can do to embed IMM in the three stages of business growth:
Here, we mean the very early stages of a project. You have an idea, you’ve identified a problem, and are developing a product that is a solution. This early stage is a pre-seed stage, so you haven’t received any investment money at all.
How can your social enterprise look at IMM at this point?
The sooner a social enterprise can embed IMM in the core of its business practice, the more successful it will be at creating real social impact.
In this middle stage, you have perhaps received your first seed investment. You’re continuing to develop your product and putting it out there. You’re building clients, generating revenue, and creating a viable business.
How does IMM look at this point?
In the growth stage, an impact investor has recognized that you have a great product and a track record of success. As a result, you’ve received your first serious Series A impact investments.
Data is the key to helping a business make it through the early stages and scale-up in the growth stages. For social enterprises, that data is IMM. The sooner a social enterprise can embed IMM in the core of its business practice, the more successful it will be at creating real social impact.
Aunnie Patton Power
Author of Adventure Finance
May 18 - 12:00 PM EST
Founder, Boston Impact Initiative
March 30 - 12:00 PM EST
Stephanie Cohn Rupp
Partner & CEO of Veris Wealth Partners
April 6 - 12:00 PM EST
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