This Pioneer In Social Enterprise Still Leading Innovation After 3 Decades
This post was originally produced for Forbes.
You can download an audio podcast here or subscribe via iTunes or Google Play.
Echoing Green has been investing in social entrepreneurs and innovation for nearly three decades. One lesson stands out, says President Cheryl Dorsey: “The leader is the secret sauce of any great social enterprise.”
Throughout its history, Echoing Green has been granting fellowships to innovators who had little more than an idea to change the world. Its accumulated data suggests it’s working.
The nonprofit organization approaches its grantmaking with the mentality of a venture fund, seeking to invest in leaders who will have a big impact. Since 1987, the organization has backed 798 “fellows” who have done work in 85 countries and 39 US states. Those fellows and their organizations have gone on to raise over $5 billion.
Echoing Green reports that 70 percent of the organizations launched by their fellows between 1990 and 2015 are still in operation today. Additionally, 80 percent of the fellows still work in the social sector—and many of the rest work in academia, government and health care.
Among Echoing Green’s alumni are the founders of successful organizations like Teach For America, City Year, One Acre Fund, SKS Microfinance and Public Allies.
Dorsey is an extraordinary example herself. She won an Echoing Green fellowship in 1992—a decade before joining the organization’s staff. A Harvard-trained medical doctor, she applied for the grant to help launch The Family Van, to serve Boston area residents in the African American community, who at the time had the third highest infant mortality rate in the country.
Today, Dorsey’s co-founder, Nancy Oriol continues the work, now having made about 108,000 visits, preventing illness for an estimated 5,648 people.
Dorsey explains what it meant for her to receive the fellowship. First, she points to the “cachet and the imprimatur of receiving the accolade” as “a signal to the world that you were an up and coming leader worth paying attention to.”
She is also grateful for the guidance she received that helped her “fail fast in many ways” while mentors were “providing pearls of wisdom that they had learned before.”
Cheryl Dorsey, Echoing Green CREDIT: ECHOING GREEN
“The entrepreneurial journey is a tremendously lonely and hard one,” she says, highlighting a third aspect of winning the fellowship that proved to be valuable to her. “Feeling a little less alone made a world of difference.”
Others have had existential experiences with their Echoing Green fellowships.
Kathleen Kelly Janus, a lecturer on social entrepreneurship for Stanford and author of Social Startup Success, says, “I interviewed dozens of successful social entrepreneurs for my book, who told me that they literally would not have been able to start their organizations were it not for the early support of Echoing Green.”
Sonal Shah, professor of practice, executive director, Beeck Center for Social Impact + Innovation at Georgetown University, sees the influence of Echoing Green in its willingness to consider candidates early on.
“Echoing Green invests in people and their ideas before they are sexy or popular or trendy,” Shah says. “They are many times the only organization that invests in ideas before they are completely formed. They help fellows improve their ideas and refine them. They create a community of support, which is so critical when starting as a social entrepreneur — fellows around the world are taking on issues in their communities that sometimes no one is doing.”
Shah, remarkably applied for a fellowship not once but twice without winning and still became an active supporter, serving as a judge and mentor. She has even hired some Echoing Green fellows at the Beeck Center. Of her application experience, she says, “The lessons we learned from the application gave us great insight. It taught us to be clear about our message. It taught us to write proposals. It taught us for our own application process. We were always grateful for our Echoing Green experience.”
Shah’s experience highlights the competitive nature of the fellowships.
Dorsey took a few minutes during our visit (you can watch the entire 23-minute interview in the video player at the top of the article) to describe what Echoing Green looks for. It goes beyond, “We know it when we see it.”
First, is passion. “You know, if you can look across a table and ask this person why do you do what you do and the answer literally jumps off the page or across the table from you and it’s almost palpable–you can feel the heat in the room as the person is talking about why they cannot not do the work.”
Second, is the potential for transformative change. She notes, “There are lots of different leadership approaches we’re looking for a particular type of social change leader–transformational leader–someone who is disrupting for good, who has a fundamentally new way of thinking about a problem.”
Third, intriguingly, is “stickiness.” She explains, “We have a term that we call ‘resource magnetism’ that is different than charisma or how we typically think about charisma but it’s the ability of the leader to mobilize others, other people, other resources, cash, volunteers, media attention, maybe other evangelists for your cause.”
Another lesson: “After 30 years of supporting leaders around the globe, it’s clear that those closest to the problem are often closest to the solution.”
Dorsey says, “we are fiercely proud of being a fellowship program, meaning that we will always back the leader.” Echoing Green is now gathering applications for 2019 fellows.
After three decades, Echoing Green’s relentless focus on finding the three key ingredients for the secret sauce–passion, transformational leadership and resource magnetism–drives its continued relevance in social innovation.
Click here to get my free webinar showing the three myths that hamper and the two keys for nonprofit crowdfunding success.
Never miss another interview! Join Devin here!
Devin is a journalist, author and corporate social responsibility speaker who calls himself a champion of social good. With a goal to help solve some of the world’s biggest problems by 2045, he focuses on telling the stories of those who are leading the way! Learn more at DevinThorpe.com!
The post This Pioneer In Social Enterprise Still Leading Innovation After 3 Decades appeared first on Your Mark On The World.