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The Personal Bottom Line
Hosted by Sara Olsen (February 2010)
Around the time I started SVT in 2001,
I remember noticing that all the highly accomplished social entrepreneurs I met seemed to have something in common: they did not have a life partner. Either they seemed to be perpetually single as they entered middle age and beyond, or they were divorced. The only renowned social entrepreneurs I knew who had stayed married for decades were the ones who worked with their partners.
I felt quite confident that with my spiritual and philosophical belief that long-term monogamy is both possible and key to a full life, my reasonable level of self-awareness and maturity, and my couples’ counselor mom, I would not fall into that pattern. But today, which happens to be the sixth anniversary of the day I met the person I thought was my life partner, I find myself single again at 38.
What gives?
Another thing I’ve noticed about this community based on the few social interactions I’ve had where this can be gleaned (since the culture I live in tends to avoid discussing the topic), is that a lot of folks do not really have any sort of retirement savings or other long-term financial security. This is particularly true in the realm of social enterprises that require some ongoing philanthropic subsidy because of the nature of the work (that is, the ones that don’t generate enough earned revenue to become profitable).
While I think there is a relatively high (and perhaps growing) proportion of folks in this field who are independently wealthy compared with the general population, and also a growing number of folks who have achieved a decent amount of financial success for their ventures, there are at least as many who don’t come from wealth at all, and, given that they are trying to correct market failures, the economics may not come around. Just as I have wrestled with my own long-term financial security, I often worry about what is going to happen for them.
There are a lot of external reasons to explain why so many of us are willing and indeed able to tolerate so much risk and even pain. This discussion is about the nature of this phenomenon, and the pattern in the personal reasons we do what we do.
Finally, much has been made of the relative lack of accountability for results in the social sector. Yet philanthropists give money and individuals give their careers. While some of this can be explained by financial self-interest based on tax breaks or salary, certainly not all of it can be. Yet, anyone who has spent time working to advance more systemic ways to measure what works will find that there is an unspoken but quite pervasive and very powerful resistance to objectifying the assessment of impact. A lot of people say this is because they doubt objective measures will be accurate.
But while this is real, I suspect there is also another reason: maybe there is a personal “return” people feel in exchange for giving their time and money… one that is to some extent uncorrelated with the actual results of the work. If this personal return feeling is one of the major drivers of philanthropic giving, what would happen if we recognized it without judgment, and investigated what goes into it?
I invite you to bring your candid experience into this discussion of the third axis of value creation: the personal bottom line.
· In your experience, are social entrepreneurs single or divorced more than in the regular population? What do you make of this?
· Do social entrepreneurs tend to be more financially at-risk than their non-social entrepreneur peers? What should be done about this, if anything?
· What is the nature of the “personal return” philanthropists obtain from giving? How should this be factored into the assessment of social value creation?
· What is your Personal Bottom Line?
Join Sara Olsen, founding partner of SVT Group, in this very personal conversation.


personal bottom line
I have thought about this subject quite a lot over the years, including discussing it with many in the early years of the Social Venture Network and more recently in the class on social innovation I taught for the past five years at Stanford. Being an actual entrepreneur is usually an irrational act with sometimes brutal consequences for one's personal life. Being a social entrepreneur only compounds both, but, of course, also has unique rewards IF successful.
This year is a bit of a milestone for me on this front - it is the 25th anniversary of my marriage and the 25th anniversary of the creation of Working Assets Funding Service, which I helped found and for which I remain the much more than full time president.
I have no doubt that the divorce rate or singleness rate is quite high among social entrepreneurs, but it is also high among traditional entrepreneurs and social activists. I do not think it is possible to succeed as an activist or as an entrepreneur and lead a balanced life in the traditional sense of that phrase. To quote the Byrds, or perhaps scripture, for everything there is a season - succeeding as an activist, entrepreneur, or even as a parent is almost always a two decade or longer commitment with wild swings in intensity, financial and psychic debt, failures of various kinds, and payoffs that are long in coming. It is not for most people - indeed, it is not for the vast majority of people.
To have a life partner buy into this requires some combination of great luck, paths that complement each other's in timing of peaks and valleys, lots of talking, and resiliency.
I will refrain from a check list of advice, but again, thanks to Sarah for her considerable contributions to the field and to opening up the third rail of entrepreneurship while keeping it analytical!