Ten Commandments for the Budding Social Entrepreneur
By Georgina Allen
Re-Vision Labs Intern
It is impossible to make it through a day without hearing something about the depressing state of the economy. Hundreds of thousands have lost their jobs and struggle to find work. Many more have become disillusioned with the profit as a primary goal in life. Out of this, however, has come an inspiring story of growth in “necessity entrepreneurs”, many of which have turned to more socially conscious methods of generating income. This exciting new trend made me think it would be interesting to hear from a seasoned social entrepreneur and get advice based on his experience.
James Dailey is the co-founder and Chief Technology Officer of MicroEnergy Credits, aiming to source carbon offsets from the developing world. He worked at the Grameen Technology Center since its founding in 2001, and led the development of the Microfinance Open Source (Mifos) project, a micro-banking software application. He has consulted on technology and extending financial services in dozens of countries. He is also the CTO of VillageReach and is responsible for the Last Mile logistics systems that support global public health. The following list is a summary of the lessons he’s learned through these ventures.
Buck the status quo.
James graduated with a degree in information systems from University of Notre Dame at a time when his skills were in high demand. Most of his university colleagues took high paying jobs with big consulting firms. Instead, James decided to delve into an entirely different discipline by joining the Peace Corp. This unique combination of skills and knowledge has been crucial in giving James an edge in his industry of choice.
Be a sponge.
James had the privilege of working with Grameen Technology Center, part of Grameen Foundation early on. During his time there James observed the market dynamics around software and learned from experienced people in the field, taking in everything he could on the market conditions, the needs of buyers and the products of vendors. This led to the development of the Grameen MIFOS project, which gave microfinance banks access to open source banking software.
Seize the moment.
Shortly after James left Grameen Foundation, he discovered that his good friend April, who had years of experience in business consulting and knowledge of microfinance, was also looking to establish a scalable social venture. The two recognized that their combined skill sets and sudden lack of time obligations presented a once in a lifetime kind opportunity.
Test the waters.
“The first step is coming up with an idea that really compels you and then circulating that idea. We tried on a bunch of different ideas. We tried them out on people, discarded a bunch of ideas, and then focused in on one particular aspect.”
Take it with a grain of salt.
Before MicroEnergy Credits (MEC) came into being, James and April wrote a number of different business plans. “You have to have the humility to say ‘that one didn’t work’” says James.
Follow your heart.
For James, the daunting task of conducting business internationally, let alone in the developing world was part of the fun. “So there are more obstacles talking to so someone in Mozambique than there are in Peoria Illinois, but it is much more interesting. It’s just part of the landscape. It’s not particularly challenging.”
Hustle and bustle.
While James and April were getting MEC off the ground, their connections were enormously helpful. Not only did these provide an outlet for contract work and income, but they both continued to take on paid work for the industry in which they were aspiring entrepreneurs, keeping them up to speed on important information.
Proceed with caution.
“We tend to be strong on the strategic stuff.” James and April spent over a year writing up a business plan for MEC and they continue to take a very deliberate approach to their decision making process. It seems to have paid off because not once has failure been on their radar!
There’s no turning back.
James expressed that you have to have a “sense of we are in this to make a massive change in the lives of people, and if I don’t do it who will? Somebody has to try to figure this out. We have the skill to do it so are going to stick with it till it happens.” Additionally, “If you just have a good idea, or even a great idea, people on the other side of the table are wondering if you are going to be here a year from now.”
Think big.
James and April’s most recent venture, YurtCozy incorporates an element of community by encouraging their fans to purchase carbon offsets by supporting green micro-entrepreneurs featured on their website. When asked about this, James indicated that it was all part of the broader scheme of things to scale up their operations. As with the organic and local foods movement, it is simply a matter of fulfilling a demand that already exists.
And for some final words of inspiration, “To paraphrase a famous entrepreneurial saying – If at least some of the people don’t think you are crazy, then you don’t have an original idea”.







