Scaling the Solution: How do you intend to scale your activities over the next two years (e.g., reach new markets, diversify solutions, etc.)? What will make this possible?
Currently, our drip irrigation products are available in 10 provinces through iDE Burkina Faso retailers’ network and partnerships. The goal for the next two years is to expand the operations to other provinces. We have conducted market analysis in a number of provinces in the northern region of Burkina Faso, to evaluate the potential actors (retailers, organizations) to add to our present operations. A business and marketing strategy is in the development process, its execution will depend on the availability of funding as at the moment most of the activities and services are provided at a subsidized cost. We are also working on diversifying our products by testing new products such as seeds, affordable multi use water system (MUS).
Financial Sustainability: What is your business model to ensure financial sustainability?
To ensure that the business is sustainable financially, the irrigation products and services have to be offered at competitive prices on the market and make sure that the sales revenues remain on an upward trend. Currently a part of the supply chain is subsidized by donor funds, such as the salaries of the supply chain manager, however in the long term view the business should be financially self sufficient.
Experience: Please provide examples of any previous entrepreneurial initiatives you have pioneered.
I have always been interested in turning an investment into a profit, although I have never established a business of my own. However, the most experience I have is buying shares on the stock market and earning a few dollars and sometimes losing some. This experience taught me how to approach the business world especially conducting market research and gathering as much information on the targeted customers/consumers.