Balli Go is a company for beauty and health products for working women with a multi-intensive lifestyle. In parallel, the company is developing a platform with scientific information that allows them to make informed decisions when buying similar products. The first series of products are based on CBD, which helps a lot to deal with stress in everyday life.
Challenge overview
Current intensive working environment is extremely stressful and can have negative consequences on personal health. Since the beginning of Covid-19 pandemic, many people have had to make significant changes in their routine and working habits. Many women are looking for effective and natural based products that can partially help them overcome health problems such as insomnia and stress-related conditions without taking medicines. Balli Go’s team decided to answer this challenge by introducing a series of products based on CBD and explaining the science in a more accessible way to their clients.
Establishment of the organisation/initiative/enterprise
As a child, Aleksandrina had a dynamic life, which in addition to living in two countries, also included constantly going to lessons, training, school, classes and work. Her first job was a lot of training, travel, nightclubs and she did not have a very healthy diet, which required her to take serious care of her health and appearance.
The problem she often faced was finding out what was best for her and most of all why. So, Aleksandrina became interested in more detail about the compositions of cosmetics and supplements, as well as the science behind them.
The brand itself was founded at the beginning of the COVID-19 pandemic. At that time, Aleksandrina worked in restaurants, respectively this branch was one of the most affected and they had several months off. During these months, she indulged in her hobby – reading about the composition of cosmetics and supplements, and even started making emulsions for her to see in practice how to create products. She decided to study the issue of really serious production, so she contacted some of the best technologists in the country, with whom she got along very well in terms of the concept. Aleksandrina drew up a business plan, applied for funding, attracted the first partners and they haven’t stopped since.
Management structure and governance
The start-up is formed by its co-founders Aleksandrina Ikonomova, Vladimir Ivanov and Yoanna Yordanova. Aleksandrina holds a Master degree in Law. Since she was a little girl, she has had sleeping problems and experienced the positive impact of Balli Go’s products for her personal health. Vladimir holds a Master degree in Law and also studied entrepreneurship in New York and San Francisco. He has vast experience in financial and business analytics. Yoanna Yordanova is a medical doctor in Germany, she is the person who ‘translates’ the science behind Balli Go’s products for their clients.
Principles of work, objectives and activities
The founding members are uncompromising when it comes to the quality of the ingredients they use, the partners they choose to work with, and the technology they invest in. Balli Go creates products with attitude, countless hours dedicated to research and improvement, (very) hard work and a keen eye for the future. This is the organisation’s gold standard.
The philosophy of Balli Gо is simple science. Science can tell which natural ingredients are useful and which can bring harm. Science informs us about the safety and need for synthetic components in the products we consume internally and externally. Science knows how to combine the two to create the best formulas. Balli Go works with some of the biggest experts in the country, who constantly help in formulating and developing the company’s products. Balli Go does not stop to inform themselves to make sure that they provide the best quality.
The start-up works with independent laboratories that subject all their products to rigorous testing for impurities and toxic substances and check the quality of the cannabidiol used. The extracts are produced using supercritical fluid extraction technology under the supervision of an expert who has expertise in the food and pharmaceutical industries.
Target groups
Balli Go develops effective personal care products based on scientific information with a focus on women’s health. The team is committed to inspiring and encouraging women who live their lives to the fullest and change the world for the better.
Innovation
Balli Go is classified as a best practice not only because it offers innovative products for personal care. The company tries to explain the science behind its products in order to help working women make informed choices when it comes to their health. Another element of the brand’s principles is that the team tries not to leave a negative mark on nature – for each product sold, a package of the same material is recycled.
Key partners
Initially, Balli Go is supported by The Fund of Funds Bulgaria under the program for financing start-up businesses in the conditions of COVID-19. Today, Balli Go works with independent laboratories and industrial producers across Europe. All Balli Go’s partners are members of the European Industrial Hemp Association (EIHA) and comply with their requirements for the cultivation, processing and processing of hemp.
Impact and Evaluation
Balli Go is a successful business because it was born from passion, commitment and many hours of hard work. The company does not just sell products to women but aims to explain the science behind them, which helps their customers to make informed decisions.
Recommendations
Balli Go’s business model is based on the combination of high quality products based on scientific research, passionate team and translation of completed science in a language that can be understood by everyone. This philosophy can be transferred in other contexts and countries to guarantee success of future entrepreneurs.
Lessons Learned
Aleksandrina perceives the business as daily problem-solving. For things that are new and unfamiliar to her, she consults with mentors, reads, and participates in various entrepreneurial programs. She dedicates herself to the organisation and on how the processes can be optimised. In an interview, she shares that she is actually expecting robot speed from herself, which is not realistic and can negatively impact her health. So, one of the lessons learned is that too much work is not the answer for the entrepreneur and everyone needs to find her/his own balance.
References
Balli Go website.
Silvana (2022). Близка среща с Аля, Balli Go и CBD [Close meeting with Alya, Balli Go and CBD]. Asphalt, 29 March.
Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the European Commission. Neither the European Union nor the granting authority can be held responsible for them.