Episode 9 | Dr. Allen Proctor: Social Enterprise and Linking Mission to Money

Summary:

Dr. Allen Proctor, Founder and Principal of Linking Mission to Money discusses Social Enterprise in Columbus and how Non-Profits need to change their mindsets in order to better succeed in their missions. We also discuss the power small businesses have to create change in their local communities.

Episode Milemarkers:

00:00 – Intro
03:45 – How Allen became passionate for Social Enterprise
05:25 – What is Linking Mission to Money?
07:40 – How Social Enterprise grew in central Ohio
08:55 – Do non-profits need to be run like a business?
09:50 – What does Linking Mission to Money do here in Columbus?
11:30 – Double Standards for Social Enterprise
12:55 – Importing programs to Columbus that work elsewhere
15:10 – Getting the community to support Social Enterprise
15:55 – Identifying sources of capital to channel for Social Enterprises
18:55 – Does Linking Mission to Money focus more on Non-Profits, or Corporations that want to have a Non-Profit arm?
20:45 – Differing motives for Businesses and Non-Profits
21:40 – Young people want to make a difference
23:20 – The difference between Non-Profits and Social Enterprise
26:23 – Angel Investors vs Capital Venture
30:10 – Should you feel wrong for wanting to make money?
35:30 – If you really want to become rich, you’ll have to choose between profits and impact
37:20 – Social Enterprises start with different challenges
39:00 – TOMS shoes and how businesses can stay dedicated to their mission
42:00 – Be skeptical of cheap criticism
43:10 – Social Impact starts at home
45:30 – Why shouldn’t big companies just write a check vs. building a Social Enterprise arm
48:00 – Allen’s opinion on Elon Musk, power, and money
50:20 – The power of Small Business
51:50 – Josh’s key takeaways
52:45 – Check out cincohio.com for more info!
53:30 – END

Links:

Allen’s TEDX Talk
CincOhio
Linking Mission to Money
Independents’ Day Festival
Summit of Greatness

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