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Celebrating 10 Years of Doing Good & Doing Well!

More Than an Entrepreneur… A Socialpreneur

So, what exactly is a socialpreneur? In a nutshell, it is an entrepreneur that wants to impart social good in the world.  

Their objective is to make money and give back through charitable causes in a sustainable way.

Likewise, your future in the residential assisted living business will do good for seniors and allow you to do well financially. Being a residential assisted living homeowner is also what it means to be a socialpreneur.

There are many socialpreneurs in various industries doing great things in society while thriving in their personal lives. People you may know to be socialpreneurs are:

  • Oprah Winfrey 
  • LeBron James 
  • Tyler Perry 
  • George Clooney 
  • Prince Harry 

These five people pay attention to the needs of society and the world. They identify a need in communities and pursue ways to service those needs and still make a profit.

A residential assisted living business also affords owners more free time to pursue personal passions and give back to others in unique ways. 


Am I an entrepreneur or a socialpreneur? Many businesses carry the stigma of being self-serving – money-hungry individuals only thinking about the bottom line. However, socialpreneurs view business differently, they work hard on concepts and strategies to help others, and they do well in the process.

They evaluate the character and integrity of their companies and determine how to do well within their community. 

A socialpreneur leans on their moral compass when running their business to judge what is right and wrong. They are looking at fixing and increasing positive influences through society’s lens, not just their bottom line.


There are many types of entrepreneurs that exercise different modes of entrepreneurship. 

Seven Types of Entrepreneurship

  1. The Solopreneur: An entrepreneur with a one-person business.
  2. The Infopreneur: Their business provides informational products.
  3. The E-preneur: A company based entirely online.
  4. The Mompreneur: A mother running a business along with childcare duties.
  5. The Ecopreneur: Runs an eco-friendly business providing services and products in a sustainable and environmentally friendly way.
  6. The Multipreneur: People who have multiple businesses and projects going at the same time.
  7. The Socialpreneur: A business provides social goods in the world.

What type of entrepreneur are you, and what type do you want to be? It’s all about the kind of business you have. Create a business, create a name.


Bombas is a company that gives socks to the homeless for every pair that is purchased. Their strategy is one-for-one; you buy one, they give one. 

Their socialpreneur impact is their sock company, and their goal is to design the best socks in the world, and when the consumer purchases a pair of socks, they donate a pair to someone in need. 

The goal is to let the consumers know that they are a part of giving back to society. 

Amazon gives to a charity of the consumer’s choice through the “Amazon Smiles” program.

It allows consumers to give back as you shop.


Being a socialpreneur allows you to let your community know that you are a caring company. Your thoughts are different from the average CEO. 

Your business focuses on helping people throughout society, and many consumers notice and support your efforts. 

Socialpreneurs look to do the right thing for society while improving the company’s name and boosting its reputation.

Oscar Auliq-Ice said, “Social entrepreneurship takes place when a social value proposal provides wide-scale, lasting change for the benefit of society.” 


Changing from an entrepreneur to a socialpreneur is a simple theory, but the actual change may be challenging to figure out how to integrate into your business mission. 

Knowing or finding a cause that you are passionate about is straightforward and creates a relationship with the consumer, society, and the business. 

Business owners have a chance to create a platform of change to impact the issues that matter in their communities. 

The Residential Assisted Living Academy teaches students how to make the concept of becoming a socialpreneurs a reality.


Entrepreneurship and philanthropy are discreetly intertwined; they allow the opportunity to impact others and not just be a tax write-off. 

Considering changing the world with innovative ideas to adjust the way it turns? That is known as the cycle of wealth and charitable efforts through philanthropy. 

Philanthropy gives you a clear perspective on becoming a socialpreneur. It causes you to think differently by re-evaluating the reason why you are doing what you do.


Now that you find yourself aspiring to follow suit with other companies making social changes, what next?

The only way to do so is to find the real reason you want to change.

Ask yourself, “How will I make my business socially accountable and sustainable? 

Identify a Cause

  • Environmental 
  • Religious 
  • Social 
  • Educational 
  • international 

Social entrepreneurship is about making a substantial difference and producing tremendous results.

It is not as complicated as it may sound. 


  1. Follow your passion:
    Passion is what pushes us to choose a specific cause. We all have reasons close to our hearts. 
  1. Know why you chose philanthropy:
    They desire to improve lives, communities, and society.
  1. Find a solution to a problem:
    Improving the wellbeing of humankind.
  1. Think like an investor:
    When investing your money, expect a return on your investment. Open the books and look at financial statements. 
  1. Take a risk:
    Be fearless and take the risk. You cannot become successful by playing it safe. 


Being an entrepreneur is not always easy, especially during the initial stages. Every successful business starts with education. 

The 3-day course at the Residential Assisted Living Academy teaches students everything from A-Z about owning and operating a successful senior housing business. 

The RAL Academy has a curriculum centered on its “Do good and Do well” motto.

After getting the education you need, you put together a support team to help with business growth, make a profit, and achieve your entrepreneurial goals. 

A socialpreneur is not focused solely on making a profit but more geared towards making a difference in the world, much like owning an assisted living home. 

Running an assisted living facility is all about care, concern, and compassion.

If you are an entrepreneur and your mission is to give back and help change the world, you may be a socialpreneur. 

Click here,, to learn more about how you can make a difference in your community with the right investment.

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