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.
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