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Social Entrepreneurship Interterm Course

Social Entrepreneurship Interterm Course. Session 4. New Venture Idea. What is the existing social need or problem? How will your venture address it? Describe your product/service. How will it change the way people live, work, or do business?. New Venture Idea (cont.).

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Social Entrepreneurship Interterm Course

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  1. Social Entrepreneurship Interterm Course Session 4

  2. New Venture Idea • What is the existing social need or problem? • How will your venture address it? • Describe your product/service. • How will it change the way people live, work, or do business?

  3. New Venture Idea (cont.) • Who are your potential customers? • Who are your potential end users?

  4. Business Model and Social Impact • What are your sources of revenue? • How can you grow/scale your business and increase impact?

  5. Competitor Analysis • Who are your existing and potential competitors? • What are other solutions?What is your competitive advantage?

  6. Social Impact Measurement • How do you measure success in this venture?

  7. Management • What are your team’s qualifications for executing this plan? • Personal connection to mission • Background • Experience • Expertise • Network • Advisors • What are the key skills and areas of expertise you need to add to your management team?

  8. Revealing

  9. In order to be TRU2U you need to start by revealing your… • Honesty • Transparancy • Kindness

  10. Revealing • Designed by students for students • Closed circle fair labor brand (10% to Verite • Made in in global factories with good working conditions, showcasing workers and their artistic talents • 90% gives back • New business model that can be replicated

  11. Tru2u • Tru2u is a new social venture that designs and manufactures well-made, fashion-forward, affordable apparel basics for men and women. Products include boxers, briefs, undershirts and camisoles. • With more and more consumers demanding transparency, companies are paying more attention to labor conditions in factories where their products are sourced and made.

  12. Product • Tru2u basics are made with color and prints on the inside representing the change begins from within. Once we can better understand the social and environmental challenges we face as global citizens, we can wear them closest to our skin, and spread to the outside • Tru2u embodies that change begins underneath it all, and from within.

  13. Micro-enterprise Model • High quality, moderately priced and with proceeds supporting Verité and fair labor training and auditing world-wide.

  14. Problem • The global economy has driven manufacturing primarily to China and other countries, with little oversight or understanding of the poor working conditions under which cheap goods are made. • Migrant workers around the world (130 million per year in China alone) are the cheap labor that work in the factories to make consumer goods. • No company currently manufactures or markets Fair Labor products. Tru2u will be a ground-breaking model, capitalizing on consumer supply chain interest, and using students to spread the message of change.

  15. Solution • Tru2u basics are one-of-a-kind designs that illustrate “days of the week” underwear 2.0 • Designs on the inside, created by artists-in-residence workers from the country of origin, becoming a global underwear phenomenon. In this case, global understanding coming from within. • Tru2u manufacturing creates jobs where they are needed. • Tru2u factories offer safe, fair and legal conditions for workers. • Tru2u wearers support this social model of doing good. • Tru2u is about feeling, doing and inspiring global good, from the inside out.

  16. Business Model • Target Demographic: College students • Sales model: Tapping into social change segment of population – sales will be on college campuses in bookstores, on-line and through a new network of college sales reps looking for social entrepreneurship positions – raising money and awareness - a new Net Impact model.

  17. Where Are We Going • Begin in in DR and Haiti with Choose Haiti Partner • Test and Refine in Pioneer Valley with five colleges

  18. Where Are We Going (cont.) • Launch brand in mid 2011 with e-commerce site • Start campus sales for back to school 2011 

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