Profile of a Typical Social Entrepreneur and Their Business
By ChatGPT
Name: Sarah Thompson Age: 35 Location: Urban area
Background: Sarah Thompson is a passionate and socially conscious individual driven by a desire to make a positive impact on society. She has a background in business administration and a strong understanding of social issues and sustainable practices. Sarah is a firm believer in the power of entrepreneurship to address social and environmental challenges.
Business: Sarah’s business is a social enterprise called “EcoTech Solutions.” The company focuses on developing and distributing eco-friendly and sustainable technology solutions to address pressing environmental issues. The products offered by EcoTech Solutions range from renewable energy systems to waste management technologies, aimed at reducing carbon emissions and promoting resource efficiency.
Mission and Values: EcoTech Solutions’ mission is to create innovative and sustainable solutions that contribute to a greener and more sustainable future. The company is committed to environmental stewardship, social responsibility, and economic viability. Sarah’s strong values of environmental conservation, social justice, and community empowerment guide all aspects of the business.
Business Model: EcoTech Solutions follows a hybrid business model, combining elements of a for-profit enterprise and a nonprofit organization. The company generates revenue through product sales and project contracts with government agencies, businesses, and NGOs. A portion of the profits is reinvested in research and development to further improve the company’s offerings, while another portion is directed towards social and environmental initiatives in marginalized communities.
Impact Measurement: Sarah recognizes the importance of measuring and quantifying the social and environmental impact of EcoTech Solutions. The business tracks metrics such as carbon emissions reduced, energy saved, waste diverted, and community empowerment indicators. These impact measurements allow Sarah to assess the effectiveness of her solutions and communicate the social and environmental value created by the business.
Collaborations and Partnerships: EcoTech Solutions actively seeks collaborations and partnerships with like-minded organizations, universities, research institutions, and NGOs. By collaborating with other stakeholders, Sarah aims to leverage collective expertise and resources to tackle complex environmental challenges more effectively.
Challenges and Rewards: As a social entrepreneur, Sarah faces various challenges such as limited access to capital, balancing financial sustainability with social impact, and scaling her business while maintaining its mission-driven focus. However, the fulfillment and sense of purpose Sarah derives from creating a positive change in society, along with the opportunity to inspire others and contribute to a more sustainable world, are the driving rewards that keep her motivated.
Note: This profile provides a general depiction of a typical social entrepreneur and their business. Actual social entrepreneurs may vary in terms of their background, industry focus, business model, and specific challenges they face.
Hello, my name is Svitlana and I am a Family Division Representative of a hundred year old insurance company, called Combined.
Why have I chosen to represent this company and it’s products?
As a mom and an educator, I know that children are vulnerable. That’s why they are my main focus to protect in case something unexpected happens. Having peace of mind during the time of any accident and/or sickness (especially cancer) is priceless to any family.
Also, I am on a mission to protect sportsmen, athletes, and business owners who are doing their best every day and are at a higher risk of losing everything if something unexpected happens.
It is my mission to make our communities stronger by educating more people that this kind of COVERAGE exists and how to benefit from it.
There are at least 3 ways we are different from other cleaning services:
ECO products: This is the number ONE reason why we are doing what we are doing. Using local products and as few chemicals as possible helps prevent allergies, headaches, and other adverse side effects of most other cleaning products. Think about those who live in your home, including little people and pets, and our Planet Earth.
Offering employment opportunities to Ukrainian newcomers in order to support them in adapting to Canada, as well as teaching them English with the objective to become Permanent Residents.
More technology is involved in the process of cleaning, including and not limited to, Dyson vacuums and powerful brushes. If there is no manpower needed, there shouldn’t be any.
PREVENTION is the way of being. As our motto goes: “Small steps to BIG change”.
Yes, AI is changing the world of work, and no one knows exactly how this will play out. But we should all be paying close attention to this new and emerging opportunity/threat. I have been testing ChatGPT, the latest breakthrough in AI technology. The answers are interesting, somewhat revealing, and maybe even sometimes suspect. But ignore it at your peril! There is a virtual explosion of software applications that are using this same AI technology to solve the full range of human challenges. Meaning — that it could put you out of work.
In a recent conversation I learned that Deloitte is forecasting that as much of 50 % of the workforce will be impacted over the next five years! If you are lucky enough to keep your job at a larger company, the work will be so automated that it will leave little room for your creative talents. Work will continue to be even more meaningless.
Other people will be laid off. They will have to redefine themselves and compete against a growing cadre of the unemployed. I expect that many people will have to work gigs, i.e., freelance, from one task or project to another. People will need to adopt software tools and agile methods to quickly join teams of complementary competencies. In other words, I expect that there will be growing demand for the kinds of support services that Wayfinders is imagining.
I asked ChatGPT this: “What are the top 20 tips for improving small business management efficiency and effectiveness?”
In about five seconds it answered:
ChatGPT
As an AI language model, I have gathered some of the most effective tips for small business management efficiency and effectiveness based on industry best practices and expert opinions. Here are the top 20 tips:
Set clear goals and objectives: Clearly define what you want to achieve and create a roadmap to get there.
Prioritize tasks: Determine what is most important and urgent and tackle those first.
Create a budget: Know how much money you have to work with and where it’s going.
Monitor cash flow: Keep track of incoming and outgoing funds to ensure financial stability.
Automate processes: Utilize technology to streamline tasks and reduce manual labor.
Hire the right employees: Find candidates with the necessary skills and experience to complement your team.
Delegate responsibilities: Assign tasks to employees who have the necessary skills and experience.
Communicate effectively: Provide clear instructions, share feedback, and encourage open dialogue.
Encourage creativity and innovation: Foster an environment that encourages new ideas and solutions.
Use data to make decisions: Analyze data to inform business decisions and track progress.
Develop a marketing strategy: Create a plan to promote your business and attract new customers.
Focus on customer service: Provide excellent customer service to increase customer satisfaction and loyalty.
Network: Build relationships with other business owners, industry professionals, and potential customers.
Embrace change: Be adaptable and willing to adjust strategies and processes as needed.
Manage time effectively: Use time management techniques to stay organized and productive.
Set up a mentorship program: Pair employees with mentors to help them grow professionally.
Provide ongoing training: Offer professional development opportunities to employees to improve skills and knowledge.
Keep up with industry trends: Stay informed about industry news and trends to stay competitive.
Foster a positive company culture: Create an environment that promotes collaboration, respect, and positivity.
Take care of yourself: As a leader, it’s important to prioritize your own well-being to ensure you have the energy and focus to lead effectively.
By implementing these tips, small business owners can improve their management efficiency and effectiveness, leading to increased productivity, profitability, and overall success.
So, not much new, here, but some good reminders for those who have been running a business for a while. If you want to play with ChatGPT for free, you can find it here.
Join us for the Wayfinders Mastermind Community of Practice, where entrepreneurs come together to share best practices, tackle challenging problems, and navigate the complexities of small business management. As part of our commitment to supporting the success of small businesses, we’ve created a trusting and confidential environment where members as peers can seek guidance, offer insights, and collaborate on solutions.
What is a Community of Practice?
At Wayfinders, we believe in the power of collective wisdom and shared experiences. Our Mastermind Community of Practice brings together entrepreneurs facing similar challenges in managing their businesses. By leveraging the diverse expertise and perspectives within our community, we aim to help each other overcome obstacles, make informed decisions, and achieve our business goals.
Session Format
Our Mastermind sessions are based on the internationally recognized Mastermind format, adapted to suit the needs of our members. Each session provides a structured framework for discussing a range of topics, including:
Strategic Direction: Explore opportunities for change and growth in your business.
Succession Planning: Navigate the complexities of retirement or selling your business.
Partnership Considerations: Evaluate the potential benefits and challenges of bringing in a business partner.
New Ventures: Brainstorm ideas and strategies for launching a new venture.
Financing Options: Discuss the ins and outs of financing and funding your business.
Market Expansion: Explore strategies for expanding your market reach and attracting new customers.
Branding and Communication: Develop effective branding and communication strategies to enhance your value proposition.
Benefits of Mastermind Sessions
Collective Wisdom: Tap into the collective wisdom and experience of fellow entrepreneurs to gain valuable insights and perspectives.
Problem-solving: Collaborate on solutions to challenging problems and decisions in a supportive and confidential environment.
Networking: Build meaningful connections and foster relationships with like-minded entrepreneurs who share your passion for business success.
Personal Growth: Expand your knowledge, skills, and capabilities through continuous learning and development.
Accountability: Hold yourself accountable to your goals and commitments with the support and encouragement of your peers.
Join Us
Our Mastermind sessions are open exclusively to Wayfinders Members. We meet in person in Edmonton on the third week of each month. We plan to offer hybrid and online sessions to accommodate more participants.
If you’re ready to take your business to the next level and benefit from the collective wisdom of our community, we invite you to join us for our next Mastermind session.
“The Wayfinders mastermind group is an opportunity to unpack timely business challenges with a group of like minded entrepreneurs. I received helpful advice from a diverse range of business owners. If you want to grow your network and community while working on your business, you’ll benefit from this group.”
“The Mastermind Group at Wayfinders Business Cooperative is a perfect example of small business owners and managers helping each other. It’s been said that we learn from our mistakes, but none of us will live long enough to make all the mistakes ourselves. So we can learn from others; this group offers brainstorming, constructive criticism and positive reinforcement to help members succeed. Very competently led by Randal Adcock, members have helped me with their advice and support and assisted in improving my business skills. If you’d like to help others and get valuable insights in business management yourself, I strongly suggest you consider Wayfinders and its Mastermind Group.“
Lloyd Kenney, Callcraft Consulting and Independent Associate, LegalShield Phone: 780-460-9449 Cell: 780-913-0944 Fax: 780-460-9462 E-mail: callcraft@shaw.ca LegalShield Website: lloydkenney.wearelegalshield.ca “If you don’t know your rights, you don’t have any.” Consulting Website: www.performanceplanning.ca “Improving productivity and employee job satisfaction.”
“On May 17, 2023, I attended Wayfinders first brainstorming (Mastermind) session. I had an idea for starting a business, but I didn’t know what or how to move forward with the next steps in bringing my idea to reality. Randal (Founder), along with Clare, Dave and David were generous with their listening to my ideas and assisting me with identifying, not only ideas on how to proceed but also cautions with having too big a scope for a business. They also assisted me with identifying what they perceived my strengths to be. It was also fun listening to David’s business idea and providing feedback to him. I am grateful for the support Wayfinders offered to me as I haven’t been an active member. I look forward to contributing and participating in more Wayfinders meetings and events.“
Thank you again for your support and encouragement.
CBN Marketing is a full-service marketing agency located in Edmonton, Canada. We specialize in providing marketing services that follow three pillars of marketing: communication, branding, and networking. CBN Marketing’s goal is to provide clients with marketing solutions to not only grow their business but develop a competitive advantage in the industry. CBN provides a framework for your solution, to give perspective on each client’s future success
CBN Marketing’s goal is to provide clients marketing solutions to not only grow their business but develop a competitive advantage in the industry.
CBN Marketing has 3 principles of marketing:
Communication: How are your messages communicated?
Branding: What makes your organization special?
Networking: Which networks is your organization targeting?
There has been much buzz about ChatGPT lately, in case you missed it. So I decided to explore the possibilities. What I find is a very mixed blessing, as they say. It is amazingly powerful and resourceful, a very good writer in many respects, and is likely to fundamentally change the way work is done in many industry sectors and occupations. It does make some obvious mistakes. For some strange reason, it told me that Wayfinders Business Co-operative is located in Nova Scotia! Of course the down side is that many occupations may be reduced, or they will disappear, and many people will have to, once again, reinvent themselves. There is a flurry to adopt and adapt or be made extinct, a period of rapid social and economic evolution.
So, to test the system, I Asked ChatGPT the following question:
“How can Wayfinders Business Co-operative facilitate a regional business ecosystem in a software cloud platform combined with in-person business events? Include references to various kinds of intelligence this could provide and facilitate.”
This is ChatGPT’s answer:
Wayfinders Business Co-operative can facilitate a regional business ecosystem by providing a software cloud platform combined with in-person business events. This approach can provide various kinds of intelligence that can help businesses and other actors within the ecosystem to make more informed decisions and collaborate more effectively.
The software cloud platform can serve as a hub for information and collaboration, providing a space for businesses to share information, connect with each other, and collaborate on projects. The platform can incorporate various kinds of intelligence, such as:
Market Intelligence: By analyzing data on market trends, consumer behavior, and competitive landscape, the platform can provide businesses with insights into market opportunities and challenges, helping them to make more informed decisions about product development, marketing, and distribution.
Social Intelligence: By analyzing data on social networks, the platform can help businesses to identify potential collaborators, partners, and customers, and facilitate connections between them.
Knowledge Intelligence: By incorporating tools for knowledge sharing and collaboration, such as forums, wikis, and online courses, the platform can help businesses and individuals within the ecosystem to develop and share knowledge, skills, and best practices.
Innovation Intelligence: By facilitating collaboration and cross-pollination of ideas, the platform can help to foster innovation within the ecosystem, enabling businesses to develop new products, services, and business models.
In-person business events, such as conferences, workshops, and networking events, can complement the software cloud platform by providing opportunities for face-to-face interaction and relationship building. These events can facilitate the exchange of knowledge and ideas, as well as the development of personal connections and trust, which can be critical for effective collaboration and innovation.
Overall, by combining a software cloud platform with in-person business events, Wayfinders Business Co-operative can facilitate a regional business ecosystem that is characterized by increased collaboration, innovation, and competitiveness, and that provides various kinds of intelligence to support informed decision-making and action.
What do you think? You can ask ChatGPT your own questions here: GPT-4 (openai.com)
Wayfinders is developing a Social Impacts protocol for Members
You have probably heard of ESG (Environment, Social, Governance), B-Corp (Benefits Corporation), FairTrade, DEI (Diversity, Equity, Inclusion) or other values protocols for business. Currently, there are rampant social media discussions on the ethics associated with AI and data privacy. Many government and large corporate procurement offices are making some protocol certification either mandatory or desirable in their selection processes. There are some controversial questions surrounding compliance, meaningfulness, and adoption of these certifications.
Way back in the 1980s I had seriously considered getting work as a corporate citizenship or ethics officer. It would have been a good fit for my background with a BA in philosophy and an MA in community development. I did work on social impact assessment as an intern at PetroCanada. But there were few jobs like that available at that time. Over the past few decades there has been a growing interest in moving beyond financial measures of value. We used to talk about corporate citizenship, the social economy, then social entrepreneurship and social enterprises, and now we talk about social purpose organizations and social finance. We even have the economics of happiness, and more companies are adding measures of happiness and other intangibles to their accounting systems.
Should there be enforcement or compliance of social values? We have many laws protecting employees, consumers and the environment. Do these go far enough, or have some laws become too restrictive? Ideally, all companies should want to do what is right and good, in the public interest. Sometimes we don’t agree on facts or values. Sometimes the social goods come at a cost. Should we leave the charitable and non-profit sectors to pick up the pieces of negative social externalities? If a for-profit company incurs these costs voluntarily, they risk being less competitive against those that do not. Regulations level the playing field. What about international competition or ‘dirty’ international supply chains, where competing nations don’t have similar regulations?
Do companies that are certified in one social protocol or another actually produce social good, or do they just set social goals and talk about them? Until recently, there were no clear standard processes or metrics for measuring social impacts. Standard accounting practices revolve around dollars and profits, and progress measured in share values, or maybe market share. Intangibles, such as intellectual property, and negative externalities like pollution, are now more routinely being incorporated into key performance indicators (KPIs) and graphically presented on company dashboards.
Social Finance for Social Entrepreneurs
If, as a self-employed entrepreneur, you tried to become certified in any of these protocols, you probably soon became discouraged by the “red tape” involved. These protocols work best for larger companies that have specialized staff to complete these reporting requirements. Where does that leave small businesses, especially micro-businesses in which the entrepreneurs is self-employed and trying to make a living?
Wayfinders Business Co-op has been working with a group of students from a course in Social Impacts at Rotman School of Management. Under direction from Wayfinders, they are developing a protocol that can easily be adopted incrementally by self-employed entrepreneurs, gig workers, freelancers and others. The results will be released and presented by webinar later in April this year. The system will allow Members to select key social indicators that are relevant to them and adopt them as part of their company’s value proposition. They will be able to set realistic goals, measure performance and report results. This should help Member companies learn how to be better corporate citizens and get the recognition and appreciation they deserve.
Following the adoption of the idea that we should be monitoring all values, not just financial values, there has been an explosion of protocols in various industries, covering every aspect of management from pollution (NetZero), human resources (DEI) , use of technology (e.g., automated checkouts, privacy, AI), supply chain integrity (FairTrade), energy consumption (LEED construction), marketing practices (#RefreshinglyHonest) and more. This type of flurry is a common pattern seen following the introduction of any new viral concept, technology or business practice. Usually, through competition, a common standard emerges and is widely adopted. We’re not there yet.
Studies in workplace happiness show that a majority of workers feel their work is meaningless. People feel frustrated. Frustration can lead to depression and other disorders. At the core of our humanity is an identity of a value generator. Recent studies in psychology of happiness indicate that we all need and want to produce value for ourselves and others. Being productive makes us happy. Until recently, despite knowing that money doesn’t buy happiness, we have been stuck on money as essentially our sole indicator of success. Soon we will have more instruments at our disposal to not only monitor and report our success, but to learn how to be still more productive and make our work more meaningful. This is especially true for entrepreneurs, who are perhaps in the best position to define themselves by their work.
Thanks to Katrina Ingram, Robert Ascah, Kevin McNulty for their contributions in guiding the students in this project.
Our video recording from the April 28 final presentation is now available here:
This topic can make news headlines any time, but during spring tax season they are very common. In the past, there were frequent reports of the FBI (Federal Bureau of Investigation) and RCMP (Royal Canadian Mounted Police) working with police in India to shut down call centers active in these scams. Police in India recognized that there are many such illegal call centers and they will continue conducting raids. Dozens of these call centers operate in several cities in India and it is believed that some may be operating with police approval since bribery is a common way to avoid scrutiny.
Recovering money will be difficult because some of the payments are processed through offshore intermediaries to insulate the scammers. These intermediaries may be pocketing as much as 40% of the total amount, according to Indian police.
Police are emphasizing that prevention is likely the best approach because criminals will continue to create scamming techniques as long as there are willing victims. People seem to have a substantial fear of the tax man!
Just remember that the IRS (Internal Revenue Service) and CRA (Canada Revenue Agency) will not request payments by gift cards, e-mail, internet link, text, or bitcoin. They won’t demand payment in hours or threaten immediate arrest. When in doubt, simply contact the IRS or CRA directly, or call the police.
Tax season is an opportune time for scammers to impersonate the tax authorities. In this post, we will provide information regarding tax scams via e-mail. This includes what you should recognize and what you should do.
An e-mail or text message is sent from someone pretending to be with the IRS or CRA, claiming:
that your tax calculation has been completed, and you will receive a tax refund by going through a link and submitting the information
that you or your company is being accused of participating in tax evasion schemes
that several discrepancies have been found with your filed taxes which need to be revised
that you’ve received an e-transfer from the IRS or CRA for what appears to be a tax refund
that an “investigation” has been started on your IRS or CRA claim
Reject it: How can I protect myself or my loved ones?
Hang up immediately if there’s anything suspicious or unprofessional about the call – the IRS or CRA will never threaten you with immediate arrest, use abusive language, or send police.
The IRS or CRA will never request payment by online currency such as Bitcoin, or pre-paid gift cards such as iTunes, Home Depot, etc.
The IRS and CRA accepted methods of payment are online banking, debit card, credit card, or PayPal through a third-party service provider, and pre-authorized debit. Call IRS or CRA to verify.
Do not click on any link in an e-mail pretending to be from the IRS or CRA – they will never ask you to click on any link to get a refund or to collect personal or financial information.
The only time they will send an e-mail that contains links is if a taxpayer calls them to ask for a form or a link to specific information. An IRS or CRA agent will send the information to the taxpayer’s email during the telephone call – this is the ONLY exception to the above rule!
The IRS or CRA never sends out text messages. Any text message from them is a scam.
Young people are often the most at risk for this scam, particularly when filing their taxes for the first time. Make sure your family and friends are educated on what tax authorities will and will not ask for during tax season.
Report it: How should I respond?
If you are not sure if a message is from the IRS or CRA, confirm your tax status with them online through a secure portal such as My Account or by calling them directly.
Report the scam to your local police if you paid money (this includes purchasing pre-paid credit cards, gift cards, or online currency such as Bitcoin).
If you sent money or shared financial information, report it to the financial institution used e.g. your bank, Western Union, or MoneyGram.
If your Social Security or Social Insurance Number has also been stolen, contact authorities immediately
The tax scam has been a topic in our Identity Theft, Fraud, and Scam seminars for several years and we’ve discussed such criminal activity in previous posts on LinkedIn and Facebook. At last, we have some good news! Police announced on Feb. 14, 2020, they had arrested 2 people in Ontario who were involved in the scam. The arrests were made on Feb. 12, 2020, with another arrest warrant issued for an individual who they believe is now in India.
Some interesting facts regarding these crimes and the criminal organizations:
– Most are originating in India; 39 call centers in India have been shut down.
– The same criminal organization was also involved in the Bank Inspector Scam and the Tech Support Scam. Many of you have no doubt received a phone call saying that they are from Windows or Microsoft and have identified a problem with your computer that they can fix if they can have access to your computer online.
– The investigation is continuing to find more “money mules” – people in the U.S. and Canada who are laundering the money and coordinating the transfer of the funds to India.
Every year, tax scams are popular with criminals. While work by investigators has reduced the dollar losses, there are still criminal organizations and many lone scammers who take advantage of the fact that many taxpayers fear the taxman! Here are some of their tactics:
(Note that these are usually phone calls, but don’t rule out text messages or e-mails.)
1. A message suggesting that your SSN or SIN has been compromised. They know the IRS or CRA has your Number, so they use that to convince you to work with them to fix a “problem”.
2. They tell you there is some outstanding legal action against you, but they assure you they can help resolve the problem.
3. The most common scam in the past has been that you owe back taxes. Victims are often those who may have a spouse who passed away and the scammer can indicate that the spouse owed the taxes. However, they may simply say you owe them and they will have a very convincing story.
4. You are told that your name, or part of your personal information, is linked to a crime. Of course, they will have plans to get you out of the jam, but always at a price.
5. They usually insist you take quick action and threaten that if you don’t, you may be arrested, fined, or deported.
There may be many variations of those scenarios, based on whatever has worked best for the scammer in the past.
My usual, simple advice: Never provide information, money, or access to money when they contact you – EVER! Do that only after you have independently verified both the legitimacy of the caller and the topic.
Future articles will discuss a variety of identity theft, fraud, and scams, along with ways to recognize them to prevent being victimized. Follow me here on Medium to learn more.
Jayson is the Business Development Manager at TLC Solutions, a local managed services provider that offers Technolojoy (yes. you read that right) to their clients by ensuring that their networks, assets and devices are protected so they can do what they do best.
His passion for connecting and partnering with local businesses, Not-For-Profits and First Nations groups to help them exceed their own expectations is second only for his love of all things sports and his family.
He brings over two decades of experience working in multiple roles at some of the biggest CPG, IT, SaaS, utilities, technology, and pharmaceutical companies in Canada and beyond. Jayson enjoys sharing his expertise and creative execution on strategy, growth, social enterprise project planning and operational management with everyone and is always up for a chat over coffee or even lunch!
