The social mission of every institution is fundamental, just like achieving financial goals is. Social mission accounts for a third of a startup's revenue. It is hard for social entrepreneurs to quantify the social impact of their startups. This is because founders do not lack knowledge about the drivers of environmental and social impact in their business prototypes. Without the help of a professional, it is often impossible to understand the social value created by a startup. The evaluation of social impact gives founders the ammunition they need to build business organizations aligned with the mission. An understanding of social impact empowers startups to unlock the power of the capital market. Entrepreneurs want clarity concerning the effects of their business operations. However, they feel confused and overwhelmed about where to start. The expectation is that the work that goes into understanding social impact will surpass their insufficient budget. ImpactableX is here to enlighten you on the social impact of your startup at a bargain price.
During business impact assessment, our team takes our clients through three ImpactableX framework components for the building of their impact model. For a start, we describe the main impact metrics. These are the measurable impact expressions that encapsulate the significant value propositions of the company. After this, our prototype for impact assessment is aligned with acceptable global standards. The objective is to ensure that the metrics used and the goals sought are the same. The second component is attribution. During this stage, ImpactableX measures the contribution a company has to the problem and compares it to the reference point. Our team calculates the changes that are uniquely attributable to the intervention made by the company. This process offers useful insight into the efficacy of each unit level and the overall impact over a given period of time.
Social impact cultivates enormous value. However, this value does not always reflect on the revenue of a company because of the externalization of impact. Social impact valuation makes it possible to understand the value of a startup. With impact assessment, it is possible to know the extent to which sales have influenced value creation. Our impact assessment process will guide you through the application of our methodology to your unique models.