Oct 07 2009

“Selling Like Hotcakes!”

Published by ekaplan at 3:10 pm under VisionSpring

At the end of August, VisionSpring launched its first South African partnership in partnership with microfinance organization Women’s Development Businesses Group (WDB). Halfway through the pilot, the word from the women in the field is that VisionSpring glasses are “selling like hotcakes!”

Indeed, a record 280 pairs of glasses were sold in the first month. What have been the keys to this early success?

For one, WDB Group’s hybrid for profit/non-profit structure provides a solid structure for achieving sustainability. Housed under the WDB Trust, the two main branches of the Group are an Investment Holdings body, which manages a portfolio of investments, and WDB Micro Finance, the operational engine that ensures financial resources are made available to poor women in rural areas through micro loans. The established culture of problem solving and collaboration is a huge head start for a third party social enterprise looking to join forces.

Another key factor has been the batch of entrepreneurs WDB assembled for the VisionSpring pilot. Nineteen highly energetic women were chosen to participate based on their previous success running businesses through WDB Micro Credit. The intimate knowledge these women already had of their customers allowed VisionSpring to extract invaluable market feedback quickly, price our glasses appropriately, and send the right mix of products for the local consumers. Participating in this feedback loop immediately increased the entrepreneurs’ motivation.

At the close of the first Vision Entrepreneur training, the excitement was palpable as the women of WDB got up and improvised a song and dance about VisionSpring, caught on video by VisionSpring’s Carrie Magnuson. Join the celebration!

One response so far

Trackback URI | Comments RSS

Leave a Reply