Kevin Xu, CEO of MEBO International, shares three key questions before building a revenue model for your social venture.
The three questions to ensure that your social venture becomes profitable while benefiting communities it serve include the following:
Where will the revenue come from?
What value are you providing to customers?
What are the tax implications?
Asking the three questions above is a good way to consider the value and impact your organization will bring. Working a way to answer the questions can rake in profit and do social good for the long term.
Xu advises, "Social venture leaders that want to make sense of their own revenue models should start by figuring out who they want to be." Read the Entire Article
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Co-founders William Mann and David Mravyan devised the Sensimat during a mandatory project for their MBA at the Richard Ivey School of Business in Canada. Sensimat is a device that helps manage and assess pressure among wheelchair users.