In the two years that Sollo inc has been doing business we have learned a lot about what it takes to be successful, including passionate leadership, humility, and being closely attuned to the unique needs and cultural context of low-income consumers. Financial rigor is another key to creating a sustainable and scalable business model, the organization’s plan for profitably making and selling a product or service.
To achieve sustainability, our enterprise’s costs should fall as the number of our beneficiaries rises, allowing the venture to reduce its dependence on philanthropic or governmental support as it grows. A number of successful social entrepreneurs have generated a better equilibrium by moving government from the side-lines to a far more productive place in the system. We too have embarked on this journey. We are currently involved with government on a number of small projects in their public procurement procedures. They purchase various products from us such as printed banners, flyers and other marketing tools when they have community engagements or functions. This new role leverages the effectiveness of citizens' taxes, making government services more valuable and the business more profitable.
Our business utilizes a hybrid business model in its revenue generating activities. We exercise a healthy mix of conventional business practices with our campaigns for private sector clients and impact motivated initiatives such as the LivYoung campaign which is centred on digital media planning and buying which develops compelling unique value propositions for youth owned businesses and social enterprises.
We also follow Peter Yorks sustainability formula which says, " leadership + adaptability + program capacity = sustainability”.
At the end of the day, an organisations success is highly dependent on the knowledge, skills and effectiveness of the staff they employ. Therefore, our staff is constantly undergoing training by our clients on product knowledge. This aids us in staying abreast of client needs and product developments. This also reduces costs for training and development on the company itself. Lastly, by virtue of effective staff and leadership, as well as sophisticated learning processes, our leadership will track progress and accomplishments, including assessing the performance of permanent and casual staff to ensure future success. Over time, we will have access to better tools and data to monitor program implementation as well as administrative and operational functions. With this information, swift action, including decisions regarding professional development support and staffing, could be taken if performance stagnates or fell.