Next Steps for Entrepreneurs on Evidence of Impact
Are you unsure about the right tool for measuring your impact? We have put together a collection of different impact measurement tools to help you find the one that fits your business best.
- Forecasting the social and environmental gains on an investment has historically been largely based on intuition and instinct. In partnership with Y Analytics and Bridgespan, The Rise Fund created a methodology to assess potential impact before a single dollar is committed. The new metric is called the Impact Multiple of Money (IMM).
- Acumen created Lean Data to fully understand how our investments impact the lives of low-income people. By putting the voice of the customer at the center of impact measurement and leveraging mobile technology for fast, reliable response, Lean Data has become an exciting new tool for social enterprises, investors and beyond. Lean Data is being shared with the sector at large through the creation of 60 Decibels.
- Social Return on Investment (SROI) is an organizational method of accounting for value creation, primarily social or environmental value. SROI enables organizations to measure how much change is being created by tracking relevant social, environmental, and economic outcomes. The key difference between SROI and other methodologies is the assignation of monetary values to the amount of change created.
- The Poverty Probability Index (PPI®) is a poverty measurement tool for organizations and businesses with a mission to serve the poor. The PPI is statistically-sound, yet simple to use: the answers to 10 questions about a household’s characteristics and asset ownership are scored to compute the likelihood that the household is living below the poverty line. With the PPI, organizations can identify the clients, customers, or employees who are most likely to be poor, integrating objective poverty data into their assessments and strategic decision-making.
Soup to Nuts Resources
- Business Call to Action's free online tool assists companies to develop their impact management framework linked to the SDGs, identify gaps in existing evidence and design a monitoring plan to collect data.
The platform brings together in one place a complete package of online training, guidance, tools and templates. It explains the topic of impact measurement in straightforward terms and provides the practical tools you will need to plan, measure, communicate and grow your social or environmental impact.
- As an example of efficient support, Just Enterprise offers a full spectrum of business support and learning and development including highly tailored leadership programmes with the Social Enterprise Academy in Scotland.
- Social Shifters is an international network of people committed to social and environmental change. It is a revolutionary digital space where social entrepreneurs learn, collaborate, and get inspired.
Developing standards of practice
SDG Impact is a UNDP initiative aimed at advancing transparency and mobilising private capital in support of sustainable, climate-friendly growth. The SDG Impact Standards are principles and tools for investors and enterprises, developed by an active network of industry-leading partners, facilitated by the Impact Management Project.
- The GRI Standards are the first global standards for sustainability reporting. They feature a modular, interrelated structure, and represent the global best practice for reporting on a range of economic, environmental and social impacts.
- The Impact Management Project (IMP) is a forum for building global consensus on how to measure and manage impact.