Define the Long-Term Goal: Identify the ultimate impact you want your business to achieve. This could be economic growth, social change, or environmental sustainability.
Identify Intermediate Outcomes: Break down the long-term goal into smaller, manageable outcomes that can be achieved along the way.
Map Backwards: Work backwards from the desired outcomes to identify the necessary preconditions and activities.
Determine Interventions: Specify the actions, strategies, or
business models you will employ to achieve these outcomes.
Identify Assumptions: List the assumptions that underpin your Theory of Change. These could be market conditions, customer behaviors, or regulatory environments.
Develop Indicators: Create measurable indicators to track progress and assess the effectiveness of your interventions.
Validate and Adjust: Continuously validate your Theory of Change with stakeholders and adjust it based on feedback and changing circumstances.