The changing consumer behavior towards green products opens up lots of opportunities to start a green business.
Have a look at the following parameters to evaluate the opportunities for “enviropreneurs”:
- Proximity to your existing business line
- Innovation index
- Risk return portfolio of the opportunity
- Classify into manufacturing/ service/ trading opportunity
- What is your market and how well are you already acquainted with the market?
- What stage of market evolution is the opportunity in? Too early, Early, Somewhat Late or Too Late?
- Does the opportunity already has any major playing operating in it?
- What is the market size and growth of the opportunity?
Please consider aspirations and comfort zones, in order to evaluate any of the above opportunities. Consider the following 3 aspects:
1. Are you a green business Consolidator or an Innovator?
Consolidator – You are more keen on developing an opportunity whose concepts and markets are fairly well defined. In some ways, you could say that consolidators are low-medium risk takers, but like to build things in an incremental and stable manner.
Innovator – Innovators are impatient with trying to build things incrementally, they are more excited to work on dramatic and disruptive shifts. They are likely to be more comfortable with markets that are in their very early – early stages than with markets that are well understood. One could say that innovators are more risk loving.
2. Immediate growth or willing to invest in “research”?
Even if a market opportunity is early, it is not a must that it would take many years for you to become profitable. For many consolidation opportunities though, top lines and bottom lines start to happen fairly quickly, even if the growth rates are not very high.
3. Do you have a special preference for one of these three sectors: Manufacturing, Trading, Services?
Thus, using the above three, we see that there are twelve possibilities
Entrepreneurs in green alternative energy and clean technologies must have business skills as any other businessman. Green entrepreneurs typically focus on revolutionizing established industries and markets. Green start-up companies need to find solutions that address the existing political, social and operational realities.
A sample of how your business parameters will look depending on which of the above 12 you belong to:
Need some ideas for your start-up?
You can give used tools, toys or decorative objects a 2. chance, collect food waste and turn it into organic potting soil, recover household items and furniture from demolitions and offer them at bargain prices, create clothing from trash, become a sustainable home builder, create a green app, teach or consult on green living, review eco friendly products …
Helpful information:
Business Opportunities for Green Entrepreneurs in the U.S.
Emerging Green Market as an Opportunity for Green Entrepreneurs and Sustainable Development in India
