2 Misconception 2: Social impact is a one-time project

Another common misconception you face is that social impact is a one-time project or a side activity that you do once in a while. Some people may think that you only care about social impact when it's convenient or trendy, or that you don't have a long-term commitment or vision for your social impact work. This is not true. Social impact is not a one-time project, but a continuous process and a core part of your business strategy. You have a clear and consistent social impact purpose and goals, and you integrate them into your daily operations and decision-making. You also monitor and evaluate your social impact progress and impact, and adapt and improve your social impact practices and policies over time.

3 Misconception 3: Social impact is easy

A third common misconception you face is that social impact is easy or simple. Some people may think that you don't face any challenges or risks in your social impact work, or that you don't need any special skills or expertise to create social impact. This is not true. Social impact is not easy or simple, but complex and dynamic. You face many challenges and risks in your social impact work, such as balancing multiple stakeholder interests, navigating ethical dilemmas, managing uncertainty and ambiguity, and dealing with resistance and criticism. You also need various skills and expertise to create social impact, such as critical thinking, problem-solving, collaboration, communication, creativity, and leadership.

4 Misconception 4: Social impact is the same for everyone

A fourth common misconception you face is that social impact is the same for everyone. Some people may think that you have to follow a standard or universal model or approach to create social impact, or that you have to adopt the same social impact goals or indicators as others. This is not true. Social impact is not the same for everyone, but diverse and contextual. You have to tailor your social impact strategy and actions to your specific context, needs, and opportunities, and to the specific needs and expectations of your target beneficiaries and stakeholders. You also have to define and measure your social impact based on your own objectives, values, and standards, and use them to guide and improve your social impact performance and impact.

5 Misconception 5: Social impact is a solo effort

A fifth common misconception you face is that social impact is a solo effort or a top-down initiative. Some people may think that you are the only one responsible or accountable for creating social impact, or that you don't involve or empower others in your social impact work. This is not true. Social impact is not a solo effort or a top-down initiative, but a collaborative and participatory process. You are not the only one creating social impact, but you are part of a larger social impact ecosystem that includes other actors and stakeholders, such as your customers, employees, partners, suppliers, investors, regulators, competitors, and communities. You also involve and empower others in your social impact work, by engaging them in co-creating, co-delivering, and co-evaluating your social impact solutions and outcomes.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?