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#27November 13, 201946:54

#25 - Mission Driven: Bringing Solar Power to 1M People in Africa

About This Episode

Shaan Puri interviews Xavier Helgesen about his journey building major mission-driven companies, Better World Books and Zola Electric. They discuss the importance of moving into the field to understand customers, the economics of social impact businesses, and the value of joining a peer group for entrepreneurial growth.

Episode Description

He's not on a mission to make money, quite the opposite. Xavier Helgesen is a mission driven founder, who uses money to do more good in the world. His first company, Better World Books sells 10 million used books a year that's collected by leftover books at libraries - in and shares revenues with literacy partners (Over $25M given to non-profits). This business lead him to Africa, where he noticed 20,000 people in a village had no electricity - so he decided to change that. He created Zola Electric, the largest solar power company in Africa, providing 1 million people with electricity per day. He talks to us about how he turned his college side hustle into a $70M biz, moving next to his customers in Tanzania, selling electricity to people who never used electricity and how ‘Mutual Improvement Societies’ could help you 10x your life.  See acast.com/privacy for privacy and opt-out information.

Key Takeaways

1

Commit to a six-month intensive 'crash course' when entering a new industry to master the technical and economic fundamentals rather than relying solely on surface-level knowledge.

2

Calculate the total cost customers currently spend on low-quality substitutes, such as kerosene and phone charging fees, to establish a compelling and affordable price point for new technology.

3

Form or join a 'Junto'—a small group of high-level peers—to provide a mix of strategic advice and 'entrepreneurial therapy' that helps navigate high-stakes business decisions.

Business Ideas Mentioned

Localized Thermal Energy Storage Services

Boring Business

Decentralized High-Credibility Education Platforms

SaaS

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Quick Stats

Duration46:54
Guests1
Ideas Discussed2
Topics4