What Makes Social Entrepreneurs Successful?

August 17, 2021

4 Qualities Business School Students Can Develop

Two business men shaking hands

Social entrepreneurs are individuals with businesses that work towards improving society and creating positive social change instead of prioritizing private gain. By relying on their skills, experience, and desire to contribute to a greater good, social entrepreneurs can work with others to introduce innovative solutions—addressing social issues and motivating the public to embrace a proactive attitude.

As a social entrepreneur, you’ll need to rely on your business acumen along with a certain set of skills in order to accomplish your objectives. By completing your MBA studies, you’ll be able to learn the necessary strategies, methods, and insights to advance your skill level and achieve your personal and professional goals. You can combine what you’ll learn in class with your own experience, honing the qualities you need to make a meaningful difference in your industry.

Here’s a brief overview of four skills and qualities that are necessary for your success!

1. Having Empathy and the Desire to Make a Meaningful Difference

In order to make a real change, social entrepreneurs need to have empathy. With empathy, they can better understand the problems and lived experiences of others—using their new insights to analyze the social issues and find solutions that directly help those who need it the most. In this way, empathy can be used to broaden perspectives and connect with others more meaningfully.

In addition to having the desire to make a positive change in the community, you’ll need to rely on empathy in order to build strong relationships as a social entrepreneur. These relationships can drive your business forward, creating a supportive network of like minded and capable individuals interested in helping you better serve the community.

A business man holding a lit light bulb in his left hand
Social entrepreneurs make a meaningful difference by introducing innovative solutions to social problems

2. Embracing Creativity and Innovation after Earning an MBA in Entrepreneurship

Social entrepreneurs are naturally creative, viewing the world in a different way in order to discover new solutions that make a big impact. Being imaginative and embracing innovation are key qualities that can help you succeed in this career path. With an MBA in entrepreneurship, you’ll learn to develop an innovative mindset and be able to access various resources designed to help you grow and develop your ideas.

Here, innovative technology and approaches can be used to change people’s lives—focusing on the root cause of a problem in order to eliminate it instead of supporting temporary solutions. By embracing creativity, you can motivate your team and work together towards social progress.

3. Showcasing Leadership and Problem-Solving Skills in the Field

A successful entrepreneur must also be a good leader. Leadership skills can be very valuable to a social entrepreneur, enabling them to work with and manage different teams in order to effectively achieve their business goals. Being able to motivate your team and find passionate partners can be very important in this field—especially as like minded individuals can push your business forward.

However, to be a good leader, you’ll need to take initiative and set a positive example by actively solving problems and accomplishing tasks. Strong leaders are efficient and capable of inspiring their team members, creating a positive environment for everyone to be involved.  As you complete your MBA degree, you’ll gain valuable insights that can help you better manage teams and businesses.

A business woman standing at a table and talking to three sitting men
Successful social entrepreneurs rely on their leadership abilities to motivate their team towards progress

4. Demonstrating Resilience and Dedication to Achieving Objectives

It should be noted that entrepreneurs can sometimes face unexpected obstacles. In these situations, perseverance is essential. Those who have a resilient nature and are dedicated to their work can overcome challenges more easily.

While growing their business, social entrepreneurs might even encounter some push back, failing to meet set expectations. Knowing how to view these moments as valuable feedback sessions can help you maximize your learning opportunities. Being persistent and committed to your efforts, your team, and your mission can help you push your business towards success.

Are you interested in attending an advanced business school?

Contact WU Executive Academy for more information!

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