To meet the standard in full, you have used your understanding of the way you bring about change to decide where to focus your measurement efforts, how wide-ranging these efforts should be, and who you should involve in the process.
You might want to take time to reflect on your understanding of your theory of change (outcomes map, logic model or similar) in order to form a sensible approach to measuring impact.
It can be helpful to take a step back to consider some basics:
You can explore the theory of change diagram for your social enterprise (if you have one) in more detail to identify the main impact and outcomes you will focus measurement efforts on.
Try to think about what your theory of change implies for approach to impact measurement and ask yourself:
Sometimes it is helpful to start out in a modest way and build from there.
Think practically about the time and effort that is feasible for you to put into impact measurement activities. Consider what staff time, expertise and money you have at your disposal. Always make sure that your efforts are proportionate to the resources available.