Harvard Case - Beyond the Lemonade Stand: Sustaining a New Social Venture
"Beyond the Lemonade Stand: Sustaining a New Social Venture" Harvard business case study is written by Anthony Wilson-Prangley, Gretchen Wilson-Prangley. It deals with the challenges in the field of Entrepreneurship. The case study is 8 page(s) long and it was first published on : Mar 19, 2018
At Fern Fort University, we recommend that Fern Fort University (FFU) adopt a multi-pronged strategy to sustain and scale ?Beyond the Lemonade Stand? (BTLS). This strategy involves a combination of entrepreneurial management, business model innovation, and strategic partnerships to ensure long-term sustainability and social impact.
2. Background
This case study focuses on ?Beyond the Lemonade Stand,? a social venture founded by Fern Fort University (FFU) students. BTLS aims to empower underprivileged youth through entrepreneurial training and mentorship, providing them with the skills and resources to launch their own businesses. The venture has gained significant traction, attracting media attention and receiving positive feedback from participants. However, BTLS faces challenges in scaling its operations and securing sustainable funding.
The main protagonists are the student founders of BTLS, the faculty advisor, and the university administration. They are grappling with the decision of how to best support BTLS?s growth while ensuring its social mission remains central.
3. Analysis of the Case Study
This case study presents a unique opportunity to analyze the challenges and opportunities of a social venture operating within a university setting. We can apply various frameworks to understand the situation:
a) Business Model Canvas: This framework helps analyze BTLS?s current business model, identifying key elements like value propositions, customer segments, revenue streams, and key resources.
b) SWOT Analysis: Analyzing BTLS?s strengths, weaknesses, opportunities, and threats provides a comprehensive understanding of its current position and potential for growth.
c) Social Impact Assessment: Evaluating BTLS?s social impact through metrics like participant outcomes, community engagement, and long-term sustainability is crucial for measuring its success.
d) Entrepreneurial Finance: Examining BTLS?s funding options, including bootstrapping, angel investing, venture capital, crowdfunding, and grants, is essential for building a sustainable financial model.
4. Recommendations
To ensure BTLS?s long-term sustainability and social impact, FFU should implement the following recommendations:
a) Formalize BTLS as a University-Affiliated Social Enterprise: This would provide BTLS with greater institutional support, access to university resources, and a clear legal framework for operations.
b) Develop a Scalable Business Model: BTLS should explore various revenue streams beyond reliance on grants and donations. This could include:* Fee-based training programs: Offering paid workshops and mentorship programs for a broader audience, including businesses and individuals seeking entrepreneurial skills.* Partnerships with corporations: Collaborating with companies to provide customized training programs for their employees or community outreach initiatives.* Social impact investment: Seeking funding from impact investors interested in supporting social ventures with a strong track record.
c) Implement a Robust Technology and Analytics Strategy: Leveraging technology can help BTLS scale its operations, track participant progress, and analyze impact data. This includes:* Developing a web and mobile application: Providing a platform for participants to access resources, connect with mentors, and track their business progress.* Utilizing data analytics: Collecting and analyzing data on participant outcomes, program effectiveness, and market trends to inform program development and fundraising efforts.
d) Build a Strong Marketing and Branding Strategy: To reach a wider audience and attract potential partners, BTLS needs to:* Develop a compelling brand identity: Clearly communicating its mission, values, and impact through a strong brand story.* Utilize digital marketing channels: Leveraging social media, content marketing, and search engine optimization to reach target audiences.* Engage in public relations: Securing media coverage and building relationships with key stakeholders to raise awareness and attract support.
e) Foster a Culture of Entrepreneurship and Innovation: FFU should create a supportive environment for entrepreneurial ventures like BTLS by:* Integrating entrepreneurship into the curriculum: Offering courses and workshops on entrepreneurship, innovation, and social impact.* Establishing an entrepreneurship center: Providing resources, mentorship, and networking opportunities for student entrepreneurs.* Promoting a culture of risk-taking and experimentation: Encouraging students to pursue innovative ideas and develop their entrepreneurial skills.
5. Basis of Recommendations
These recommendations are based on the following considerations:
1. Core Competencies and Consistency with Mission: The recommendations align with FFU?s mission of education and social impact, leveraging the university?s resources and expertise to support BTLS?s growth.
2. External Customers and Internal Clients: The recommendations address the needs of both BTLS participants and potential funders, ensuring the program?s relevance and sustainability.
3. Competitors: The recommendations consider the competitive landscape of social ventures and entrepreneurial training programs, emphasizing the need for differentiation and innovation.
4. Attractiveness ? Quantitative Measures: The recommendations aim to enhance BTLS?s financial viability, exploring revenue streams, partnerships, and impact-driven investment opportunities.
5. Explicit Assumptions: The recommendations assume that FFU is committed to supporting BTLS?s growth and that there is a strong demand for entrepreneurial training and mentorship programs.
6. Conclusion
By implementing these recommendations, FFU can ensure that ?Beyond the Lemonade Stand? becomes a sustainable and impactful social venture, empowering underprivileged youth and creating a lasting legacy of social change.
7. Discussion
Alternatives:
- Independent Non-Profit: BTLS could become an independent non-profit organization, but this would require significant fundraising and administrative capacity.
- Merging with Existing Organizations: BTLS could merge with an existing social enterprise or non-profit, but this could dilute its unique identity and mission.
Risks:
- Lack of Funding: Securing sustainable funding remains a key challenge, requiring a robust fundraising strategy and a compelling value proposition for investors.
- Program Scalability: Scaling the program effectively while maintaining quality and impact requires careful planning and execution.
- Competition: The social venture landscape is becoming increasingly competitive, requiring BTLS to differentiate itself and build a strong brand.
Key Assumptions:
- FFU?s Commitment: FFU?s commitment to supporting BTLS?s growth is crucial for its success.
- Market Demand: There is a strong demand for entrepreneurial training and mentorship programs, particularly among underprivileged youth.
- Impact Measurement: Measuring the program?s impact is essential for demonstrating its value and attracting funding.
8. Next Steps
Timeline with Key Milestones:
- Year 1: Formalize BTLS as a university-affiliated social enterprise, develop a scalable business model, and implement a robust technology and analytics strategy.
- Year 2: Launch a comprehensive marketing and branding campaign, build strategic partnerships, and secure initial funding from impact investors.
- Year 3: Expand program reach, develop new training programs, and establish a sustainable financial model.
By taking these steps, FFU can ensure that ?Beyond the Lemonade Stand? becomes a successful and impactful social venture, leaving a lasting legacy of social change and entrepreneurial empowerment.
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Case Description
In 2016, a young South African left her secure office job to pursue her passion for social entrepreneurship in the youth development field. She had been volunteering with street children, but she wanted to do more by drawing on her entrepreneurial experience from high school and university. She followed her passion, and experienced a number of challenges, but also early successes over her first four years of social entrepreneurship, including the formation of her social business, Beyond the Lemonade Stand. Business was steady but she struggled with getting the commitment needed in poor township schools to make the program a success. She began to question the core purpose of her organization and wondered if she would be better off pursuing opportunities offered by middle-class and private schools that wanted her services.
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