3 Things Every Founder Should Know About Social Entrepreneurship
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Author, attorney, podcast host and startup guru Neetal Parekh recently published her book 51 Questions on Social Entrepreneurship. She’s shared three of the best insights with me for this article.
Neetal, founder of Innov8social, offered up these three keys:
Legal Structures: There are legal structures and business models and fundraising options specifically designed for companies pursuing profit and social impact. For example, legal formation options such as benefit corporation and social purpose corporation and successful business models such as “1 for 1” and “sliding scale.”
Timing: We are in a unique moment of timing where there is a shift in consciousness happening both in the new millennial workforce as well as in the desire of serial entrepreneurs to engage in businesses that create social impact. Additionally, new funding opportunities (such as those provided under the JOBS Act) though not specifically designed for empowering social impact, do lend themselves as tools to the space.
Impact Measurement: “Social entrepreneurship” may be a temporary term. As we are able to see the next innovations that will redefine not only the social impact space but also business as we know it. Among them is impact measurement, the ability to measure, report, and share the social impact we create. As the industry finds new ways to engage in this task, it can be applied broadly across the entire spectrum of business and can change the way business is done and the metrics we use to define its success.
On Thursday, June 16, 2016 at 3:00 Eastern, Neetal will join me for a live discussion about her three insights. Tune in here then to watch the interview live. Post questions in the comments below or tweet questions before the interview to @devindthorpe.
More about Innov8social:
Twitter: @innov8social
Innov8social creates content, programming, and tools to empower social entrepreneurs, social intrapreneurs, and consumers reach their impact potential.

Neetal Parekh, courtesy of Innov8social
Neetal’s bio:
Twitter: @neetal_parekh
Neetal Parekh is the Founder and CEO of Innov8social. She is a licensed attorney, with expertise in digital strategy and communications. She is the author of book 51 Questions on Social Entrepreneurship, host of The Impact Podcast by Innov8social, and a frequent speaker, facilitator, and moderator on topics including social enterprise, social entrepreneurship, and ways entrepreneurs, intrapreneurs, and consumers can engage in social impact. Neetal has been a speaker at Stanford Law School, Santa Clara University Law School, General Assembly, WeWork, Sustainatopia, and has been featured in GOOD, Women 3.0, Social Entrepreneur Podcast, HeartBeings, The Good Radio Network, among other media.
Neetal holds a B.A. in International Political Science from UCLA, where she interned at the U.S. Consulate in Mumbai, India. She pursued her interest in international work through volunteering in rural India and studying public human rights law in Geneva and Strasbourg. Her past experience includes strategy roles at FindLaw, Calvert Foundation, Net Impact, and a handful of early-stage startups. She also served as Chief of Product and Impact at an education company (and public benefit corporation) where she designed and delivered entrepreneurship and business education.
Neetal has participated as a fellow in StartingBloc, Hive, and New Leaders Council, where she also served on the Advisory Board. She also engaged with the Executive team of VLAB, the MIT Enterprise Forum Bay Area Chapter at Stanford University, as Outreach Chair. Innov8social hosted its first live event, Impactathon, in 2016 bringing together social entrepreneurs for an interactive, day-long workshop featuring social impact talks and hackathon-style workshop.
A passionate advocate for social entrepreneurship and impact innovation, Neetal believes that this field empowers us to creatively re-imagine how businesses and individuals can create meaningful impact and lasting value.
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