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Reed gives his
advice on how to set up a social enterprise and offers some positive
words for people who feel the world is ‘messed up’
How did you get into social
enterprise?
I tried graffiti as a means of raising
awareness about social and environmental issues. Then I tried
filmmaking to reach an even wider audience, then I realised that
consumer goods were the best way to get through to the broader
public on a daily basis.
How does your enterprise work?
We aim to make the most eco-friendly
bottled water in the UK and then use the profits to help provide
clean water around the world.
What are your ambitions for the
future?
To help inspire more people to start
sustainable businesses to compete with the unsustainable ones.
What did you want to be when you
were growing up?
An inventor
“Write down your business idea and every element that you can think necessary to bring it to market.”
What kind of person makes a good
social entrepreneur?
Persistent
What resources do you find useful in
your work?
Smart, inspired and concerned people.
What other social
entrepreneurs/businesses do you admire and why?
Anita Roddick, The Big Issue and Bono
What advice would you give to
budding social entrepreneurs?
Swallow your pride, get a paying job at
a big mindless company, use the income to provide your subsistence
capital and read and learn everything you can about how the company
you work for functions - this is great training.
Spend all your personal time
researching your target area of the market, find a mentor in that
sector, write down your business idea and every element that you can
think necessary to bring it to market. Cost out each component of the
product or service and assess how much you can sell them for.
Calculate your gross profit per unit sold.
Then calculate how much annual overhead
costs it will take to keep your company in business and the costs of
marketing your product. Then calculate how many units you need to
sell to cover these overhead costs. Then consider if you think you
can, in reality, sell that many items. Then make a prototype and go
practice selling the item to see if there is any traction. If all
this doesn’t add up, try again.
Why did you become an ambassador?
I aim to highlight the need for progressively minded people to get
into business to create a more sustainable economy. I want to inspire
those who feel the world is messed up to not give up, but to join the
battle for positive change.
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