{"id":66545,"date":"2020-09-02T15:00:00","date_gmt":"2020-09-02T15:00:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/?p=2722291"},"modified":"2020-09-02T15:00:00","modified_gmt":"2020-09-02T15:00:00","slug":"jeff-nock-iowa-on-developing-a-social-enterprise-business-plan","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2020\/09\/02\/jeff-nock-iowa-on-developing-a-social-enterprise-business-plan\/","title":{"rendered":"Jeff Nock Iowa on Developing a Social Enterprise Business Plan"},"content":{"rendered":"<h2><strong>A Solid Plan Is Critical to Mission Fulfillment, Says <\/strong><strong>Jeff Nock Iowa<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">IOWA CITY, Iowa, \/\/ icrowdnewswire.com\/\/ August 31, 2020 \/\/ &ndash; A strategic plan is essential to the success of any enterprise. Social enterprises, or those in which one pursues an opportunity to create positive social change, are no exception. The plan articulates the founder&#8217;s vision internally and externally with potential funders and customers and describes how the enterprise will fulfill that vision. Undertaking the planning exercise also forces the entrepreneur to think about the best way to handle every aspect of the business from cash flow to distribution, <\/span><a href=\"https:\/\/flipboard.com\/@JeffNock\"><span style=\"font-weight: 400;\">says <\/span><span style=\"font-weight: 400;\">Jeff Nock Iowa<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A vital component of a social enterprise strategic plan is articulating the vision. <\/span><a href=\"https:\/\/jeffnock.com\/blog\/\"><span style=\"font-weight: 400;\">According to <\/span><span style=\"font-weight: 400;\">Jeff Nock Iowa<\/span><\/a><span style=\"font-weight: 400;\">, this section articulates how the world will look when the organization accomplishes what it is setting out to do:<\/span><\/p>\n<ul style=\"list-style-type: circle;\">\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">&#8211; What is the problem?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">&#8211; Why is it important?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">&#8211; How significant is the problem?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">&#8211; What are its root causes and contributing factors?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">&#8211; Why is this problem solvable?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">&#8211; What other approaches have been tried, and what were their results?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">&#8211; What would the world look like if this problem were solved?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">&#8211; What is the mission of this enterprise?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A good mission statement is succinct and memorable and describes the purpose of the organization. One social enterprise, Bombas, a sock company, has developed the mission statement to provide a sustainable solution to the most requested clothing item at homeless shelters&mdash;socks. After developing the mission, the entrepreneur describes how the enterprise will fulfill the mission, for example, what factors will affect change and how the new business will act to do that, says <\/span><a href=\"https:\/\/www.scoop.it\/u\/jeff-nock\"><span style=\"font-weight: 400;\">Jeff Nock Iowa<\/span><span style=\"font-weight: 400;\">. In<\/span><\/a><span style=\"font-weight: 400;\"> the Bombas example, Bombas donates one pair of socks to a homeless person for every sock sold.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After the plan articulates the vision and mission, it covers the external market conditions including competition, the organization&rsquo;s marketing\/sales, operations, leadership team and financials that will enable it to carry out its mission, says <\/span><a href=\"https:\/\/medium.com\/@jeffnockiowa\/jeff-nock-explains-leadership-team-development-c1ab0effb284\"><span style=\"font-weight: 400;\">Jeff Nock Iowa<\/span><span style=\"font-weight: 400;\">. Examples<\/span><\/a><span style=\"font-weight: 400;\"> of these assets are experienced leadership, specialized skills, and partnerships. Just as with any business, a social enterprise will talk about how its operations or product or service differs from competitors. It will discuss how its approach to solving the social problem is unique and differentiated, as <\/span><a href=\"https:\/\/www.pinterest.com\/jeffnockiowa\/\"><span style=\"font-weight: 400;\">well, says <\/span><span style=\"font-weight: 400;\">Jeff Nock Iowa<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The last section covers finances. It outlines how much funding is needed to start the venture, what the entrepreneur already has, and if gaps exist, how they will be filled. It includes sales projections, costs, and provides cash flow and income statements for three to five years. It also includes an analysis of funds that might be available for the social cause and whether the enterprise can access that money. Cash flow is essential because, without it, a social enterprise will be unable to affect sustainable<\/span><a href=\"https:\/\/muckrack.com\/jeffnockiowa\"><span style=\"font-weight: 400;\"> change, says <\/span><span style=\"font-weight: 400;\">Jeff Nock Iowa<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For a social enterprise, profit is not the only success factor. The plan also provides a section on how the enterprise will measure success. The metrics used to measure success should link back to the mission statement and be clearly assigned to specific leaders, says <\/span><span style=\"font-weight: 400;\">Jeff Nock Iowa<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Each section deals with risks &#8212; what could go wrong financially, strategically, and programmatically &#8212; and how the enterprise will mitigate these risks. A section also describes how the business will scale, including how it will balance the speed of scaling while also optimizing social <\/span><a href=\"https:\/\/www.crunchbase.com\/person\/jeff-nock-55cb\"><span style=\"font-weight: 400;\">value creation, says <\/span><span style=\"font-weight: 400;\">Jeff Nock Iowa<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><a href=\"https:\/\/www.pearltrees.com\/jeff_nock\"><span style=\"font-weight: 400;\">Jeff Nock Iowa<\/span><span style=\"font-weight: 400;\"> is CEO<\/span><\/a><span style=\"font-weight: 400;\"> and founder of Prescient Consulting LLC, which helps funded early-stage and mid-cap companies achieve their vision and growth <\/span><a href=\"https:\/\/mix.com\/jeffnockiowa\"><span style=\"font-weight: 400;\">goals. <\/span><span style=\"font-weight: 400;\">Jeff Nock Iowa<\/span> <\/a><span style=\"font-weight: 400;\">is an experienced executive, consultant, and leader with a demonstrated history of growing startups, non-profits, and established companies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">CONTACT:<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><span style=\"font-weight: 400;\">Caroline Hunter<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Web Presence, LLC<\/span><\/p>\n<p><span style=\"font-weight: 400;\">+1 7865519491<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><span style=\"font-weight: 400;\">SOURCE: Web Presence, LLC<\/span><\/p>\n<p class=\"tags\">Tags: <a href=\"https:\/\/icrowdnewswire.com\/tag\/373164\/\" rel=\"tag\"><\/a><\/p>\n<div><b>Tags:<\/b><br \/><a href=\"\"><\/a>, <a href=\"https:\/\/icrowdnewswire.com\/category\/content-marketing\/\" rel=\"category tag\">Content Marketing<\/a>, <a href=\"https:\/\/icrowdnewswire.com\/category\/ips\/\" rel=\"category tag\">IPS<\/a>, <a href=\"https:\/\/icrowdnewswire.com\/category\/news-category\/extended-distribution\/\" rel=\"category tag\">Extended Distribution<\/a>, <a href=\"https:\/\/icrowdnewswire.com\/category\/language\/english\/\" rel=\"category tag\">English<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"\" alt=\"image\" width=\"400\" height=\"300\" class=\"cwdfimg\" \/><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A Solid Plan Is Critical to Mission Fulfillment, Says Jeff Nock Iowa IOWA CITY, Iowa, \/\/ icrowdnewswire.com\/\/ August 31, 2020 \/\/ &ndash; A strategic plan is essential to the success of any enterprise. Social enterprises, or those in which one pursues an opportunity to create positive social change, are no exception. The plan articulates the &hellip; <a href=\"https:\/\/icrowdnewswire.com\/2020\/09\/02\/jeff-nock-iowa-on-developing-a-social-enterprise-business-plan\/\">Continue reading <span>Jeff Nock Iowa on Developing a Social Enterprise Business Plan<\/span><\/a> <a href=\"https:\/\/ipsnews.net\/business\/2020\/09\/02\/jeff-nock-iowa-on-developing-a-social-enterprise-business-plan\/\" class=\"more-link\">Continue Reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,3,5,57],"tags":[],"class_list":["post-66545","post","type-post","status-publish","format-standard","hentry","category-content-marketing","category-english","category-extended-distribution","category-ips"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Jeff Nock Iowa on Developing a Social Enterprise Business Plan - Business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ipsnews.net\/business\/2020\/09\/02\/jeff-nock-iowa-on-developing-a-social-enterprise-business-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jeff Nock Iowa on Developing a Social Enterprise Business Plan - Business\" \/>\n<meta property=\"og:description\" content=\"A Solid Plan Is Critical to Mission Fulfillment, Says Jeff Nock Iowa IOWA CITY, Iowa, \/\/ icrowdnewswire.com\/\/ August 31, 2020 \/\/ &ndash; A strategic plan is essential to the success of any enterprise. 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Social enterprises, or those in which one pursues an opportunity to create positive social change, are no exception. 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