According to research from the Inter-American Development Bank, if the creative economy, globally, were a country, it would already be equal to the fourth-largest economy in the world with the fourth-largest workforce and ranking ninth in the value of exports. That’s just the beginning. One advantage of the Information Age is the ability to be able to potentially increase markets for products that have traditionally been sold just locally, or out of a kiosk, or to tourists when they’re coming in. Not anymore. With... read more
Read the full commentary "Getting Beyond Hype: Four Questions to Predict Real Impact" from Stanford Social Innovation Review.
...we really do need to sort good ideas from bad, and it ought to happen before we stoke the fires of publicity. At Mulago, we’ve spent a lot of time trying to figure out if start-ups with a new “thing”—a product, service, or technology—are likely to create real impact in the lives of the people we’re trying to serve. Over time, we’ve evolved a set of four questions that help us make better predictions.... read more
As investors in impact, we—the Mulago Foundation—don’t want to wade through a bunch of verbiage about “empowerment,” “capacity-building,” and “sustainability”—we want to know exactly what you’re trying to accomplish. We want to cut to the chase, and the tool that works for us is the eight-word mission statement. All we want is this:
A verb, a target population, and an outcome that implies something to measure—and we want in eight words or less.
....With a good eight-word mission, you can... read more
So instead of pouring your marketing budget into advertising or sales channels, try to find the person or group whose lives you significantly change.