What makes SEE so special is its ability to drive real openness and honesty right across business. And to galvanise businesses, consumers and civil society organisations into partnership in driving higher standards of Social, Environmental and Ethical practice.
The business model is also very special. We currently have 70 businesses signed up. They have joined because of the benefits of going through our evaluation process and because of the potentially greater benefits of carrying the SEE Logo and listing on SEEWhatYouAreBuyingInto.com. That is, they are motivated through self-interest.
But they are also, to varying extents, motivated by altruism. Because as more and more companies join the scheme, these founder members will raise public expectations that ALL businesses likewise provide clear and honest information about their SEE practices, and likewise demonstrate real transparency and accountability.
To put this in another way, our pitch to new businesses is this: join SEE because it will make you a better business AND because you will make the world a better place. This is something to get really excited about! This is what enables us to become a labelling scheme that is also part social movement.
Our proposed viral campaign is based on people nominating companies that they would like to see open up. It could not be simpler. And it is potentially very powerful, especially if people can easily share details of the businesses they have nominated and their reasons for doing so with their social network. In 2010, with all the challenges we face together, people SHOULD expect businesses to be open and honest. And good corporate citizens should embrace this as an opportunity to demonstrate their intents and to gain public trust.
The SEE What You Are Buying Into Logo can be an enormously powerful brand, carried by members of an increasingly influential network of businesses united in their desire to make good profits by being fair, open, honest and trustworthy. This is no "tree-hugging, sandal-wearing" campaign with unrealistic vision and unachievable standards. It is a very practical, pragmatic and potent way for businesses to prove they are doing their best. And, as such, it is a unique means for them to gain competitive advantage.
We believe SEE Ltd is the big one. The social business with the social product/service that causes a paradigm shift and creates incredible financial and 'SEE' value. Well this is certainly the opportunity and, having created it, we are hugely excited about where we have got to and about the months ahead.
Tuesday 23 November 2010
Sunday 21 November 2010
May 2008 to November 2010
In May 2008, once the 'crowd funding' debenture offer was finally launched, we swiftly raised £6,500. A few weeks later, despite having further investors willing to buy debenture units, we took the tough decision to put the offer on hold. We had to accept that the debenture had taken too long to organise and the company's debts were not going to be renegotiated as easily as anticipated.
However, help was at hand. After a series of emails over several months and one 20 minute telephone conversation, Michael had the great pleasure of meeting Mr Harry Halloran in early June 2008. Mr. Halloran has a long history as an entrepreneur, with senior positions in oil, transport, refining and construction industries. He is the CEO and Founder of Frontier Wind LLC and Energy Unlimited Inc and he maintains investments in a variety of cutting edge renewable energy businesses. He is a Board Member and former President of the American Wind Energy Association. Mr Halloran also has a track record in supporting schemes that seek to drive greater social, environmental and ethical responsibility in business, of which The SAIP Institute and B Lab are just two examples.
Within a week of this meeting a £177,230 investment had been agreed. This support saved the SEE scheme. In 2010 Mr Halloran invested a further £31,870.
In the 32 months from May 2008 to now (figures last updated 14 December 2010), the income of SEE Ltd was as follows:
At May 2008 the total funds raised were calculated to be £215,000. Since then, as detailed in the table above, a further £284,292 has been raised. The grand total now stands just shy of half a million pounds. So the suggestion that the SEE scheme has never been properly funded may seem slightly bizarre. But, given the extent of the debts accrued to 2008 and the subsequent investment in a major rebranding and rebuild of our websites, we have had less than £200,000 at our disposal over the last 31 months, an average of around £6,400 per month. Mr Halloran's investments were made during the credit crunch, so it is an indication of his staunch commitment that the they were completed. But it was unavoidable that the investments were made in no less than 14 separate and unpredictable instalments. It has never been possible to anticipate when funds would come into the business, how much would come, or when. The constant uncertainty has made long term planning practically impossible.
Nonetheless, and while impatient for further success and for faster growth, we are proud of SEE's achievements and progress. We are excited about our current position and our future prospects which will be detailed in our next blog entry.
However, help was at hand. After a series of emails over several months and one 20 minute telephone conversation, Michael had the great pleasure of meeting Mr Harry Halloran in early June 2008. Mr. Halloran has a long history as an entrepreneur, with senior positions in oil, transport, refining and construction industries. He is the CEO and Founder of Frontier Wind LLC and Energy Unlimited Inc and he maintains investments in a variety of cutting edge renewable energy businesses. He is a Board Member and former President of the American Wind Energy Association. Mr Halloran also has a track record in supporting schemes that seek to drive greater social, environmental and ethical responsibility in business, of which The SAIP Institute and B Lab are just two examples.
Within a week of this meeting a £177,230 investment had been agreed. This support saved the SEE scheme. In 2010 Mr Halloran invested a further £31,870.
In the 32 months from May 2008 to now (figures last updated 14 December 2010), the income of SEE Ltd was as follows:
| Income source | Amount |
| Bank interest | £113.05 |
| Client revenue | £41,075.89 |
| Debenture investment | £6,500.00 |
| Loans | £21,412.00 |
| Miscellaneous | £6,092.09 |
| Mr Halloran | £209,098.90 |
| Total | £284,291.93 |
At May 2008 the total funds raised were calculated to be £215,000. Since then, as detailed in the table above, a further £284,292 has been raised. The grand total now stands just shy of half a million pounds. So the suggestion that the SEE scheme has never been properly funded may seem slightly bizarre. But, given the extent of the debts accrued to 2008 and the subsequent investment in a major rebranding and rebuild of our websites, we have had less than £200,000 at our disposal over the last 31 months, an average of around £6,400 per month. Mr Halloran's investments were made during the credit crunch, so it is an indication of his staunch commitment that the they were completed. But it was unavoidable that the investments were made in no less than 14 separate and unpredictable instalments. It has never been possible to anticipate when funds would come into the business, how much would come, or when. The constant uncertainty has made long term planning practically impossible.
Nonetheless, and while impatient for further success and for faster growth, we are proud of SEE's achievements and progress. We are excited about our current position and our future prospects which will be detailed in our next blog entry.
Monday 8 November 2010
Basic questions about the SEE scheme and the debenture offer answered
With thanks to SEE listed business Charlotte Tolhurst Photography Ltd, we are pleased to publish a five minute film in which all the basic questions are answered. 14 quick fire questions - on both SEE Ltd's crowd funding offer and the SEE What You Are Buying Into scheme - are answered by Michael Solomon, SEE's founder.
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