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Posts tagged social impact

Lots of Noise, But No One in the Room

Sep12
2012
Brian Minter Written by Brian Minter

“There is a great deal of noise on the stairs but nobody comes into the room.”
– John F. Kennedy

President Kennedy was referencing a Chinese proverb when he said that, making the point that it was easy to talk about problems, but much more difficult to fix them.

Kyle Zimmer, First Book’s president and CEO, is in China herself this week, addressing the World Economic Forum’s ‘Annual Meeting of the New Champions’ in Tianjin, the foremost gathering of business and nonprofit leaders in Asia. She’s there to talk about subjects near and dear to our hearts – social entrepreneurship and social impact investing.

How First Book is making a differenceSocial entrepreneurship is a new way of doing business, a hybrid of traditional nonprofits and for-profit companies that uses market forces to create social change. (Click here to read a recent blog post by Kyle where she explains what social entrepreneurship is and how it can change the world.)

Social impact investing is a related concept; the idea of channeling investment toward mission-driven businesses and entrepreneurial nonprofits that are working to solve social problems.

As Kyle says in a piece published today in the Huffington Post and on the World Economic Forum’s blog:

Fundamentally there are holes on both the investor side and the social entrepreneur’s side of the aisle.

On the investor side, there is far more talk than there is traction. Certainly, a few funds have been established that focus on social investment, but it is difficult to see these as more than traditional charity, dressed up as investment.

Creative new designs in the financial category to address this need have been discussed for years, but few have made it to market. This lack of significant innovation by the investment community has been a major roadblock to the expansion of the social sector. Enterprises reach a certain level of growth and then choke from the lack of capital.

Kyle Zimmer, president and CEO of First BookLike any new idea, there’s a lot of work to be done. But Kyle is hopeful about the future, saying: “There we were all in a room at the World Economic Forum Annual Meeting of the New Champions – financial institutions and representatives of the social sector — talking about the challenges, which is a great step toward a cure.”

At First Book, we’re working towards a new kind of solution to an old and intractable problem – how to ensure that the 30 million kids in the United States (and soon, around the globe) living in low-income families get the books and resources they need to succeed. Click here to learn some ways you can get involved.

Posted in Education, Kyle Zimmer, Literacy, Social Entrepreneurship - Tagged Annual Meeting of the New Champions, China, Davos, First Book, impact investing, Kyle Zimmer, noise on the stairs, Social entrepreneurship, social impact investing, Tianjin, World Economic Forum

How We Can Change the World by Buying Things … Together

Jun29
2012
Brian Minter Written by Brian Minter

A single consumer isn’t able to change much about how a given company does business. But when thousands of customers join together and speak with a single voice, corporate leaders pay attention and make changes – whether it’s revising business practices, yanking advertising or offering new products or services.

This idea, the power that comes from aggregating consumers, may not seem important to a nonprofit, but it’s actually at the heart of what First Book does.

First Book provides new books to children in needThe problem we’re working to solve is the lack of access to books and educational materials for kids from low-income families. The schools and programs they attend usually don’t have the resources to buy new books, and neither do their families. So these kids miss out on the single most important thing they need to become strong readers and successful students. And many of them lose their chance to become the scientist, engineer, electrician, doctor or teacher that they have the potential (and desire) to become. When that happens, we all lose.

And the private sector loses too. The publishing industry loses money because those children can’t buy books, and they lose future customers because those children never become readers.

But … if we can bring enough teachers and program leaders together, we can pool their limited resources and create a new, untapped market for the publishers. Not to mention creating future customers, and – most crucially – a stronger, better-educated society for everyone. Everyone really does win.

There’s an excellent piece by Will Byrne, co-founder of the nonprofit Groundswell, in Fast Company’s Co.EXIST blog describing this phenomenon:

With purchasing power, we can help business leaders to deliver social benefits while also meeting their bottom line, creating local markets that reward those who do. People, given a path that does not set them back economically, will make choices as consumers that do good for their world. And, just as important, business leaders will as well.

It’s a good idea, right? It’s also what First Book is all about.

First Book provides new books to children in need(In the piece, Byrne recognizes First Book’s president, Kyle Zimmer, and her contributions to this important way of thinking. But that just proves that he’s on the right track.)

That’s why, when we meet new teachers and community leaders, and tell them to sign up with First Book to get new books, we make the point that the more groups we connect with, the more books we’ll be able to get them, at lower cost.

It sounds like magic, but it’s actually simple. First Book exists to aggregate the purchasing power of the hundreds of thousands of Title I schools, mentoring programs, food banks, homeless shelters and church groups that work with kids in need, and our power to make change grows as we grow … together.

Posted in Book Recipients, Books & Reading, First Book Partners, Kyle Zimmer, Marketplace, Social Entrepreneurship - Tagged change the world, Fast Company, First Book, Kyle Zimmer, one book at a time, purchasing power, Social entrepreneurship, Will Byrne

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