5 Tips to Help You Build a Business That Works for Social Good

When entrepreneurs start businesses, the mission of the organization is often central to their motivations.

Entrepreneurs like Toms founder Blake Mycoskie find ways to build businesses with social good in mind. Toms donates a pair of shoes to those in need for every pair of shoes a customer buys. The organization is concerned with much more than making a profit – it's looking to make a social impact.Building a business to help people is an admirable goal, but it's far from easy. It's one thing to help solve a problem with a product; it's another to solve a problem and make a social impact or even a dramatic social change.

1. Find the idea.

For an entrepreneur or aspiring entrepreneur, it's easy to fall into the trap of pressing for business ideas. You might set up scheduled brainstorming times or intensely study industries, looking for the next groundbreaking product. While there's nothing wrong with either of those options, sometimes the best business ideas require questioning your everyday experiences.

2. Research the concept.

During the brainstorming and researching phases, small business owners should dig into how they can help others with their idea.

3. Start helping others.

Once you find an idea and research the concept, it's time to put your plan into action and officially launch the business. This is where understanding how to start a business comes into play. You'll want to determine whether you'll be a nonprofit organization or a for-profit entity. This leads into deciding on your legal business structure, building out your team, developing a marketing strategy and more. Becoming a business owner is a big step that requires planning and understanding.Other aspects of starting a business include developing a social media strategy, researching potential customers, learning more about your target audience and its preferences, and seeking ways to engage your community.

4. Listen to feedback.

A smart company attempts to listen to every piece of customer feedback, whether it's on social media platforms, through email or over the phone.

5. Put people first.

Starting a business to help others requires the willingness to focus on more than profitability. You'll need to make people and your mission the top priority.