This week's focus was on Hybrid companies. These are companies that are working to make a difference instead of working to make a profit, but aren't isn't reliant on the "hustle" for funds from donors and grants because it has a product and service that is for sale. The sale of the product or service all goes directly back into the business to make it self-sufficient.
For the Application activity this week, we created a fictional hybrid company. This sparked interest for me as something that I might actually look into doing. I am working on my degree to either become an elementary school teacher or to go into special education. This was prompted by my own experience trying to navigate the system and advocate for my son. A hybrid makes so much sense because I do want to help families in my community but I don't want to spend all of my time and energy trying to figure out where the funding is going to come from.
What is it about hybrids that make them so successful?
I think the nature of hybrids makes them successful. They have the heart behind them that non-profits and social businesses do. They have a goal to make a difference in the world and to solve a problem. They are successful because they are not in it to make a huge profit. High profit businesses rely heavily on marketing and ad campaigns. They also do not have to rely on grants and donations; both of which take so much time and energy away from the goal of the company. Instead, they can focus on the solutions they are driving forward.
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