Giving Compass' Take:

• Jim Eischens, writing for Medium, offers philanthropy tips for social entrepreneurs who want to enter the philanthropic sector and do so successfully. 

• How can social entrepreneurship innovate philanthropy? 

• Read about the Unlikely Duos video series that pairs of donors and social entrepreneurs for candid conversations on the future of social problem-solving.

Philanthropy isn’t focused on individuals giving money, but rather on creating solutions for problems that plague society. A philanthropist should think like an entrepreneur and find ways to build social enterprises when it comes to social challenges.

There are many documents and research available to show why this is a solid route to take. Businesses are considered solutions to problems. This means that solving a social problem that has been negatively affecting people will guarantee business for you and your employees. This is why philanthropist should focus on opening a business that focuses on solving the problems that plague humanity on a day to day basis.

Here are some tips for entrepreneurs entering philanthropy:

  • Creating Sustainable Solutions: This means that there should be a focus on creating products that can help remove our dependency from the items that cause ourselves and others harm in society. Some of these examples include eco-friendly energy and renewables, such as recyclable materials.
  • Always Dream Big: By focusing on large markets and opportunities, a philanthropist can help change the world through their entrepreneurial means and reach an even larger audience than before.
  • Work With People You Trust: Because you are approaching philanthropy from an entrepreneurial perspective, this means you will have to be extra selective when it comes to hiring people. Make sure that they are not only qualified for the job but share your values and mission statement as well.

Read the full article about philanthropy tips for entrepreneurs by Jim Eischens at Patch.