As most of the world is flooded with headlines that read more like corporate obituaries for the most recognizable brands, Chili has found plenty of success stories during the recession that are being overshadowed. What Chili has done is gone out and taken a look at its members, motivated people like you and me, to inquire about what they are doing these days to stay positive and contribute to rebuilding the economy.
Take for instance Stephen Chen, who co-founded GreenSoul Shoes less than 12 months ago. GreenSoul Shoes has yet to officially release its product, but they have already taken orders from over 20 distributors worldwide, and has been covered by the Wall Street Journal and the New York Times. In addition, they have just been awarded the top prize at the Fordham Business Plan competition.
The company’s business model is what makes GreenSoul unique: for every pair of sandals bought, the company also donates a pair to children in developing nations. And since they are made with 100% recycled materials, this practice is as environmentally friendly as it is altruistic.
Stephen, who held the position of VP of Business Strategy at Bear Sterns before it collapsed, started the GreenSoul project after his partner Alastair’s trip to South East Asia. Using low-cost viral marketing and email campaigns, GreenSoul was able to get people excited about its hot idea and turn the concept into reality. They continued to raise awareness about their eco-friendly restoration model, and effectively communicate the value of their product to establish a presence which ultimately led to them being approached by Sketchers, a large shoe company, to establish a joint venture.
So what was their secret?
GreenSoul Shoes is the perfect example of how a company with an idea can leverage their own network to get the word out and build excitement. Build hype, communicate the value of your product or services, and identify strategic relationships in order to benefit from the most effective marketing strategy: positive word-of-mouth and referrals. With a proper strategy and the motivation to act, an innovative product or service can have a successful launch even in the worst economic times. After all, there is always a market for creativity.
Let me be the first to wish you congratulations!
good read. i have a story i would like to share.
This story is great! This shows how someone who got laid off because of the recession was able turn it around to their advantage and get involved with something they’re passionate about.
inspiring story.
I love this story. I think many of us can relate to it. I was also in Finance and have recently started a new venture with a few former colleagues. I would love to share my story in an upcoming blog from “The Chili”.
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