World of Books - 2023 impact report review
I’ve been a Wob customer for a while - it was a pleasure to review their impact report and learn more about the impact of their work.
👍🏻 Three things I like:
1. CLEAR STATEGIC APPROACH TO IMPACT
They have a very clear business model based on circularity principles. And a simple, understandable value proposition:
“We offer an affordable, sustainable alternative for bookworms who want to save money and save the planet”.
2. CHARITABLE SUPPORT AND BUSINESS MODEL ARE INTEGRATED
Their approach to having an impact is clear and there appears to be a golden thread running through everything they do – it’s obvious how it connects back to their overarching impact strategy.
Their charitable activities are a great example:
They support charities through what they do by buying donated books from them.
Their foundation supports literacy and the circular economy – i.e. is totally aligned with what they do and how they do it.
3. AUTHORSHARE INTIATIVE
They have helped create the AuthorShare initiative so authors don’t miss out on royalties when a book is sold second hand. This could help remove a criticism of the second hand book market. Find out more.
❓ Three questions it raises:
1. WHAT WERE THEIR OBJECTIVES?
They appear to have achieved a huge amount – but it would be helpful to understand how this stacks up against what they’d hoped to achieve. I’d like to know their SMART objectives for the year so that their report shows progress against these.
2. WHAT DIDN’T WORK?
What didn’t work out as they’d hoped? What did they learn from this?
What were the negative impacts of the business beyond carbon emissions?
Were there any unintended consequences of their activities?
3. HOW BIG IS THE PROBLEM?
I’d find it helpful to know the overall size of the problem they’re trying to address. This would help me understand the size of the dent they’re making, and their long term vision for making a meaningful difference through their business.
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You can read the report for yourself here and let me know what you think.
If you’re preparing to write your own impact report, you might find my FREE Impact Reporting Roadmap helpful: