Kevin Xu, CEO of MEBO International, shares three key questions before building a revenue model for your social venture.
The three questions to ensure that your social venture becomes profitable while benefiting communities it serve include the following:
Where will the revenue come from?
What value are you providing to customers?
What are the tax implications?
Asking the three questions above is a good way to consider the value and impact your organization will bring. Working a way to answer the questions can rake in profit and do social good for the long term.
Xu advises, "Social venture leaders that want to make sense of their own revenue models should start by figuring out who they want to be."
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Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.