Chief Sales and Operations Officer, Young Living Essential Oils, LC
Young Living's Goals and The Healthy Four feat. Prasad Gankanda
The new year is a natural time for reflection. How did we do last year, and how can this one be even better. Will you read more, eat ...
Transcript (13 segments)
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Jacob Young0:01
The new year is a natural time for reflection. How did we do last year and how can this one be better? Will you read more, eat better, or spend more time with family? And what about your professional goals? Well, Young Living wants to be better in 2022, and we want to help you on your journey too. So let's make some new resolutions together, shall we? Hello and welcome to Young Living's podcast, The Wild Drop. My name is Jacob Young, your host. Young Living is the world leader in producing and distributing premium essential oils, and this podcast will provide you with drops of information about Young Living, including stories, history, products, lots of little fun facts, and even more. In studio with us today is Prasad Gankanda of the Young Living executive team and Chief Operations Officer, to talk about company goals for the new year. Welcome, Prasad.
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Prasad Gankanda0:54
Well, thank you, Jacob Yang. How are you?
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Jacob Young0:56
Good, how are you?
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Prasad Gankanda0:58
I'm doing well. It's such an honor to be here with you. First time in the studio, what do you think?
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Jacob Young1:01
I think you've done an amazing job. I remember the first time you sent me and Kobe a text: 'Hey, I got this idea, what do you think?' I thought you'd do an amazing job. Well done. Thank you. It's been a blast. We have so many listeners now, and people thoroughly enjoy the podcast. I've thoroughly enjoyed it. We have some amazing people we've found through this podcast, and I appreciate everyone's contributions. It's been great.
So for the podcast, 2021 was a huge success. Now this is the first podcast of the new year. And for Young Living as a whole, last year was amazing. Before we look ahead to 2022, let's shout out the brand partners who made 2021 great. Love that. And Prasad, you're a numbers guy. Do you have some exciting numbers to share with us?
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Prasad Gankanda2:19
Yes, Jacob. The mission of this company, your dad and mom's vision, is taking Young Living essential oils into every home. The brand partners carry that legacy. On that note, how many brand partners and customers did we bring in last year? Well, our brand partners are passionate, so I'll say 500,000. You're low. We crossed 1 million new brand partners. Wow. All the kudos go to them. Thank you for being with us. Last year was challenging, but we succeeded. Change is necessary for innovation. Let's talk numbers: rank advancements – 152,915. Incredible. Also, customers consumed 676,000 gallons of NingXia Red, enough to fill an Olympic pool. Your dad was a visionary – he probably knew our members would love it that much. Another number: 54 million essential oil bottles sold. Stacked, they'd reach 131 miles, from LA to Tampa. That's taking oils into every home. And our retention rate crossed 75% – extremely high compared to the industry average of low 20s. This sets a strong base for 2022.
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Jacob Young6:52
That's impressive. Another question: for the executive team and corporate, what do you feel was the biggest victory last year?
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Prasad Gankanda7:17
For me, as COO, I focus on operations. We went through major changes in the US market: new warehouses, platform changes. Innovation requires trial and error. We set a mission for the warehouse team: process a perfect order within 24 hours, or P24. A perfect order means delivered on time, accurate, with the right paperwork, in one box, damage-free, and with tracking communication. When we started measuring in 2020, the rate was just over 30%. Now, I'm proud to say we've averaged 95-96%. That's a massive jump in a year. We'll keep improving to make your dad proud.
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Jacob Young10:56
That's a huge jump! So, Prasad, you're very close to the foundation. The foundation is fully funded by brand partner donations. Last year, they donated $7 million, impacting 108,235 lives and sponsoring 346 children at the Young Living Academy, where 90% of graduates pursue higher education or employment, compared to the national average of 12% in Ecuador. That was your dad's dream. We also reopened farm visitations in 2021, with 1,373 attending Silvery Treat at the lavender farm. And our virtual convention had over 117,000 views from 77 countries. Great numbers for 2021. Now, what are the goals for 2022? How is Young Living starting this process?
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Prasad Gankanda12:29
Great question. Before setting goals, the executive team identified the problems we need to solve. We developed a global rally cry: the Heart of Young Living. We see Young Living as one giant heart with four chambers. The first chamber is Healthy Homes – taking oils into every home with measurable metrics. The second is Healthy Sharing – supporting brand partners in promoting the mission through enrollment, retention, and rank advancements. The third is Healthy Community – giving back through the foundation, ensuring employee and partner satisfaction. The fourth is Healthy Business – financial health, led by our CFO Melissa. Each chamber has specific metrics for continuous improvement. The key word for 2022 is 'healthy.' We must be healthy to advocate for others.
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Jacob Young15:55
I love that each chamber includes 'healthy.' It's so important. Many employees come from other fields where they made good money but it wasn't healthy. They love Young Living because of the mission, purpose, values, and community. Your mom and dad built an amazing company. Prasad, thank you for sharing the goals. Our job as a company is to help brand partners – provide a frictionless website, ship orders on time, pay commissions on time, and give them the tools and education they need. You guys carry the torch. Thank you, Prasad, for coming on the show.
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Prasad Gankanda18:37
Thank you so much for having me. It's an honor to be here. Thank you to everyone for making 2021 amazing. Remember to tune in to The Wild Drop on iTunes, Spotify, YouTube, or our website. Oil up, wild family. This is Jacob Young dropping out. Take care.