Read the full Forbes article and watch the interview here: http://onforb.es/1TDUigz. Subscribe to this podcast on iTunes by clicking here: http://bit.ly/ymotwitunes or on Stitcher by clicking here: http://bit.ly/ymotwstitcher. Privately-held dōTERRA is a rapidly growing direct seller of essential oil-infused products with $1.2 billion in annual revenue. Three years ago, the company launched an effort to use its supply chain to reduce global poverty by creating economic opportunities for rural communities in developing countries like Nepal, Somaliland and Madagascar. [Jump to page 2 to watch the live interview.] While founder and CEO David Stirling declined to provide gross margin data for the business, he suggested that the margins of publicly-traded direct sellers, about 80 percent, would “provide a broad approximation.” So the margins are good, giving the company some wiggle room for developing its supply chain for impact. Emily Wright, the company’s Executive Vice President over sales and marketing, notes that the company was founded with a social enterprise mindset. “dōTERRA’s core mission is to improve the health and wellness of its customers through natural products and education.” Two corporate social responsibility initiatives have expanded the social purpose of the company: the dōTERRA Healing Hands Foundation (HHF) and the supply chain program launched in 2013 called “co-impact sourcing.” Read the full Forbes article and watch the interview here: http://onforb.es/1TDUigz. Please consider whether a friend or colleague might benefit from this piece and, if so, share it.
#411: doTERRA Reinvents Supply Chain For Impact On Poverty