Jacqueline Novogratz, founder and CEO of the Acumen found, world traveler, social entrepreneur and all-around badass wrote the book The Blue Sweater. Ms. Novogratz is one of a growing group of business people who believe that we can combine the goals of philanthropy with the methods of for-profit business and come up with a sustainable way to help people. The emphasis is on providing opportunities for people in developing countries to make their own money, rather than simply giving it away.
I’ll be writing about the book and these ideas quite a bit on here, since I greatly admire her path in life and would like to emulate her. Before a formal review, though, here are some take-aways from her book:
- Don’t create more dependence
- Invest in good people
- Listen. Really, really listen.
- Involve people in the formal sector of the economy
- If you want to be taken seriously, take everyone else seriously. That means real logos and an office, but it also means that if someone defaults on a loan, there needs to be some sort of punitive measure. Just because the work is motivated from a place of humanitarianism doesn’t mean your customers and clients can do whatever they want.
- Focus on building upon systems that are already in place. Starting scratch often means failing.
- Sell to them on their terms, not yours (know your audience)
- Everyone can contribute
- You need feedback, something the market can provide that is often missing from traditional philanthropy
- Don’t leave people behind
- The world’s poor are active customers, not passive receptacles of charity
- We are all smarter for knowing one another
It is worth noting, I think, that her book was not ghost-written, as far as I can tell. I highly recommend that you read it, even if this isn’t usually your thing.