Many businesses claim to have had the idea scrawled on a serviette at a restaurant, the perfect elevator pitch heard by the right person at the right time. Less fabled are the great ideas that did not quite work as planned, the hours of cold-calling, or the tough but necessary 180-degree turns a business might make before it finally carves out a place in the market. Ross Mains-Sheard, Chief Executive Officer (CEO) of solar installer Versofy, has navigated his company through many changes, opportunities, pivots, and a global pandemic. Versofy now is proudly reshaping how South African consumers access solar energy solutions.
“The idea for a self-storage aggregation website then morphed into a marketplace platform for professional services with over 350 categories encompassing everything from dog-walkers to upholsterers, which was again refined to service providers within the property management space,” explains Mains-Sheard. “Although Versofy had grown 400% in 2019, there were still some gaps in our business model, and the pandemic gave us an opportunity to pause and reflect. It was the chance for a fresh start, along with the realisation that every uptick in success had come when we narrowed our focus. Solar was the logical shift.”
Traditionally solar had been reserved for the fortunate few who could afford to pay the R200 000-plus price tag upfront and in cash. With access to the best installers and flexible payment options, Versofy started its journey of opening up the market from the few to the many, says Mains-Sheard. Today the company has empowered over 4 000 households to embrace solar energy, installing over 50 000 solar panels. “This has not only illuminated homes but has also contributed significantly to reducing carbon footprints, generating over
35 000 000kWh annually while helping the local economy, households and small businesses mitigate the worst effects of loadshedding,” says the CEO.
Mains-Sheard believes that Versofy’s business journey mirrors the spirit of a uniquely South African entrepreneurship, characterised by a deep-rooted sense of purpose and community. “South Africa is fertile ground for entrepreneurs, especially those who can view our serious challenges as opportunities for innovation and impact,” he says. “If the definition of entrepreneurship is solving a problem for someone and being able to charge for it, the opportunities for entrepreneurs in South Africa are numerous, even more so when they can improve people’s lives in direct and tangible ways. As much as we have our challenges, there is room to operate quickly and efficiently, and delight the customer. Many people have come to terms with bad service to the point where it feels like the norm, but it does not have to be this way.”
When it comes to entrepreneurship, he says that networking, persistence, and a dedication to learning are pillars of strength that every businessperson should adopt. “The importance of having a vision, staying dedicated amid adversity, and leveraging digital technologies to streamline operations are crucial elements for those considering becoming entrepreneurs. Small businesses require support from both the government and corporate sectors. While it’s crucial for small businesses to focus on their trade, technology plays a significant role in optimising operations.”
Since Versofy’s roots are in technology and the company has always occupied a space online, its aim as a technology company is to make people’s lives easier and more efficient and eliminate waste. “The importance of focus, the courage to pivot when necessary, and the value of learning from disappointments while having a greater purpose all coalesce in Versofy’s rise to one of SA’s most trusted names in rent-to-own solar and solar-as-a-service,” says Mains-Sheard.
He concludes, “The latest avenue for creating meaningful value-added services that help our customers live lighter is the recent introduction of the proudly local Versofy HOME app, as well the upcoming launch of its solar-boosted smart geysers and home water solutions. There is a common misconception that to be a successful entrepreneur, you have to invent something completely new, something ground-breaking or change the world. The real essence of entrepreneurship is in creating value within your local ecosystem and economy.”
Enquiries: www.versofy.com
