What Distinguishes a Social Entrepreneurship Business from other Retail Businesses?
Are you familiar with TOMS? In the early 2000’s Blake, the founder, was visiting Argentina. While there he discovered many children were not in school. The reason why they were not in school was simply because they did not own a pair of shoes. He decided to do something about this.
He returned to the states and started a for-profit business called TOMS. The deal was whenever someone bought a pair of shoes the business donated a pair of shoes to these children so that they could now receive an education. How cool is that?!
He took something we all do — buy shoes — and turned it into a way to support a need at the same time. This is called a Social Entrepreneur business — taking a social need and, using a for-profit business, work hard to help resolve the crisis.
The late actor Paul Newman started his business, Newman’s Own Salad Dressing to support his favourite charities. So it is neat to know that buying this food not only tastes great on my salad, by buying this brand I am helping someone else.
Mannatech: A Social Entrepreneur Company
Mannatech, almost since its beginnings, has always given back — always used its profits for others. Various health agencies stated that malnutrition was the number one cause of death each year for 5 million children under the age of 5 years. After learning this fact the company set about to address this need.
By using our scientifically developed nutrition and the profits from the sales of our products*, they became a Social Entrepreneur company with nutrition as their focus. This became known as M5M™ —Mission 5 Million— looking for 5 million customers to link with 5 million children. They do this through a 501(c)3 charity.
And, as they say, a picture is worth a thousand words. So here is ashort videoexplaining this program.
It is so rewarding knowing that money I spend on nutritional supplements not only benefits me — these purchases also provide HOPE for others.
*because each product is sold usually using the currency of the country of purchase, each product is given a Point Volume (PV) . For every 100 PV sold a child receives nourishment added to their food. (In US dollars it is roughly 1 child per 100 US $ spent)