Is Entrepreneurship Better with a Social Mission?

November 29, 2012 via Business Insider by Brazen Life – So, you wanna be an entrepreneur. You’ve got a great idea, and you’re ready to take the leap. But there’s one more question to answer: should you add a social mission to your plan?

Social entrepreneurship, where for-profit companies have some component of charitable giving as part of their business model, is a growing trend among Gen Y entrepreneurs. One of the most well-known social ventures is TOMS, founded by Blake Mycoskie in 2006. Since inception, the company has donated more than 1 million pairs of shoes to children in need with its “buy one, give one” policy.

If you want to make a profit and make a difference in the world, read on to find the answers to some of the big questions about social entrepreneurship.

Should I launch my business first and add the social mission later?

Why wait?

Katina Mountanos and Liz Whitman, founders of New York City-based startup Manicube (a First Growth Venture Network Fall 2012 participant), caution that if you don’t incorporate your social venture into your mission and value proposition from the beginning, you might run the risk of the social good becoming an afterthought.

Read about a few other reasons to commit at the beginning and other insights at Business Insider…