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92 LEARNINGS This pilot phase has been one of trial and error. Not in an unthinking way but in a very intentional and designerly way. We have constantly designed mini pilots that we have tested, refined and redesigned. It has been an iterative process and has led to us building a solid foundation on which to grow and scale our business with deep and real customer and market insights. Due to funding constraints we have been forced to be more responsive and customer focused. We believe that these are the perfect conditions for innovation and that’s exactly what our business model demonstrates. Without the luxury of ploughing on despite the fact that a service isn’t hitting the mark we have reflected on what our customers need and what they are willing and able to pay for. This has led to a much more targeted offering that we believe will bare fruit over the next 12-18 months. One of the areas we have not performed to a standard we are proud of is in our relationship management. Whether with the social enterprises we have worked with, the investors we have engaged with, with our staff or as a Board. We simply haven’t had enough hours in the day to give people the time they deserve and need. We have worked ridiculously hard and certainly done our best but what we’ve delivered on this front is not good enough and we want to do better. We need to not only add capacity by increasing the size of the team but also ensure we get the right cultural and skill set match to actually see the increase in what we can deliver and how well we deliver it. This is our next challenge. We always knew that the business model was foundational to our work but we have learnt over these two years that our approach to using it and training others to use it is unique in the market. Paul has always said that the business model canvas is deceptively simple and this is part of the reason why other players in the market who are trying to use it are struggling to use it effectively. We have done business modelling with over 150 social enterprises and really honed our method around how best to use this magnificent tool of the business model canvas to build Blended Value organisations. In our early interactions we found that social enterprises reacted strongly against the business model canvas if we jumped straight into it, as they felt uncomfortable with the pure commercial approach they felt that took. Most of the organisations were coming more from the social side of the spectrum and found the canvas “too mercenary”. Common struggles emerged with parts of the canvas that seemed to trip social enterprises up. Areas like articulating the customer segment were more complex for those who focused on their beneficiary group and confused this group for the customer. The Value Proposition was another area of confusion, as people would passionately place their mission or purpose in this box believing that as it was their motivating factor it must be the customers as well. Responses began to soften and the education process became more effective when we introduced the Intention box above the canvas. This can then inform the business you build moving forward and help in the decision making process. Our ability to use the canvas as a way to “triage” an enterprise and give feedback on gaps or strengths in the model has allowed us to more effectively target our interventions and next steps.
93 It hasn’t all been success and growth. We have had the massive blow of Team Wild failing to live up to its potential. There is much to learn from the experience and we carried out a full “autopsy” of all our dealings to see if there were any signs we missed or intervention points where we could’ve done something different to achieve a different outcome. Our experience with Team Wild has also reiterated the importance of all three areas of an Investable Social Enterprise: Mission, Model and Management. The fact that in Team Wild’s case failures of management unraveled all of the good work that had taken place in the areas of Mission and Model is a lesson to us all. The autopsy process was in fact really positive in terms of the role TDi played and how the quality of our work stood up at all stages of the unfolding saga. While the behaviour of a very small number of players was incredibly disappointing the majority have shown the expected level of support, understanding and leadership which has positioned them as pioneers in the impact investment space. Overall, despite the massive financial, psychological and emotional loss that we all felt from Team Wild it has resulted in some really encouraging interactions with investors who have continued to support the wonderful social side of the program and we will continue to work to find a business model to support that moving forward.
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