Entrepreneurs are the drivers of growth for the fourth sector. They are problem solvers by nature, open to taking risks, discovering, and innovating. There are tens of millions of socially driven entrepreneurs starting new purpose-driven enterprises around the world each year. And there are countless entrepreneurs working within established organizations and institutions – “intrapreneurs” – who are driving change that strengthens the fourth sector and its ecosystem.
By harnessing their passions and skills to build for-benefit solutions to the myriad societal and environmental challenges we face, entrepreneurs can help uplift their communities and the world, create jobs, and establishing the successful businesses and industries of the future. Similarly, Intrapreneurs within established companies can apply their skills to develop new for-benefit product/service lines, divisions, and enterprises that tackle urgent societal needs, or even help transition their own company to a for-benefit model.
Specific actions that entrepreneurs can take to scale the fourth sector while taking advantage of it to advance their objectives are as follows:
1. Sharing their experiences designing and running their entrepreneurships under fourth sector lenses.
2. Mentoring other entrepreneurs interested in starting for-benefit enterprises.
3. Consider adopting a for-benefit business model to pursue their goals.
4. Using problem solving skills to develop sustainable business models and designing products and services that contribute solving social and environmental problems.
5. Collaborating with other entrepreneurs to advance together new ventures aimed to generate societal and environmental good.
6. Advocating for a fourth sector to advance sustainable business models that contribute solving social and environmental challenges.