Starting a business is always a challenging adventure, and for those passionate about making a difference, the road to success is full of twists and turns. Did you know that a whopping 20% of small businesses fail within their first two years of operation, and an additional 50% fail during the first five years? It's a sobering statistic that makes you wonder what it takes to thrive, especially for those aiming to create positive change. Let's dive into the world of capital and why having five particular types on your side can make all the difference in the world for starting changemakers and sustainable development.

What exactly is “capital”?

Before we get into the nitty-gritty of the 5 forms of capital, let's zoom out a bit. Capital isn't just about money; it's anything and everything that helps you bring your venture forward. Think skills, connections, tools, and even those intangible things that make you and society thrive.

The 5 Must-Haves for Changemakers

Money Talks: Financial capital

Got cash? It's not just about keeping the lights on; it's about fueling your mission. Whether you're kicking off, scaling up, or weathering a storm, you need financial capital. It's what lets you grab the tech you need, overcome financial challenges, and keep your social mission alive.

We know it can be tricky though. Do you want some guidance on navigating the funding landscape or crafting the perfect investor pitch deck? Check out the latest resources on the Changemaker platform:

• Navigating Early-Stage Funding for Zebra Startups
• Do’s & Don’ts for an Effective Investor Pitch Deck

Your Network is Your Net Worth: Social Capital

No one makes it alone. Social capital is all about the relationships and networks that have your back. From warming up to community leaders to locking arms with NGOs, having a solid social network opens doors, sparks collaborations, and gives your mission acceptance and legitimacy within the community.

Our aim at WorldStartup is to create collaborative spaces for changemakers and stakeholders, fostering innovation through communities, circles, and innovation hubs. Check out our innovation hubs.

Brains and Muscle: Human Capital

Your personal and your team's skills and knowledge are your secret ingredient. Investing in talent, nurturing a culture of learning, and attracting the best and brightest are all part of building up your human capital. After all, a savvy team is what turns challenges into opportunities and dreams into reality.

Apart from the wealth of resources on the Changemaker platform, we have recently opened our Basecamp incubator programme for real starters. If you want to test the waters before committing to a full-scale program, check out the individual modules on the Changemaker Platform such as:

• Mountain of Tomorrow Canvas
• Progress Pathways

Keeping the Spirit: Psychological Capital

In the rollercoaster ride of entrepreneurship, mindset matters. Psychological capital is all about keeping your head held high, even when things get rough. An often overlooked part is the importance of creating a supportive work environment, offering a shoulder to lean on, and helping your team find purpose.

Sign up for the Changemaker Platform where, in the upcoming weeks, next to our other courses, you can find a wealth of resources on well-being, leadership development, and peer-to-peer support groups.

Green is the New Black: Natural Capital

We've only got one planet, so let's treat it right. Natural capital is about being eco-conscious in everything you do. From green practices to conservation efforts, being a friend to Mother Earth isn't just good for the planet – it's good for your bottom line too.

Learn to measure your impact in our Impact Definition course and make real progress by joining our monthly Progress Days.

Putting it all Together

In a world that desperately requires a change of mindset, impact entrepreneurs are the architects of tomorrow. By working with and strengthening these five types of capital, changemakers can conquer challenges, spark innovation, and leave the world a little better than they found it. It's not just about making money; it's about making a difference. And with the right mix of resources, the sky's the limit.