Porvaldur Danielsson: At a Crossroads as a Social Entrepreneur
In late 2018, a social entrepreneur in Iceland realized he needed to make changes to his enterprise working with socially-isolated children and youth. His operating model was to host bicycle rides with children and youth, and to encourage them to engage fully as young people. Most of these children had not previously engaged in physical activity, and many experienced not only social difficulties, but also physical challenges as a result of being overweight or obese. The social entrepreneur was spending much of his time negotiating sponsorship and service agreements and as a result, he spent less time engaging with the focus of his initiative-at-risk children and youth. He was also funding some of the initiative himself, putting his personal financial circumstances at risk. How could this social entrepreneur develop a robust, sustainable business model that would enable him to develop financial independence, support the youths' involvement in an annual cycling ride that circumnavigated Iceland, and enable the business to expand so that it no longer relied totally on one person?