As hearts and minds shift towards ethical brands, there’s never been a better time to launch your career as an ECOpreneur. But even in this changing economy, you’ll need to make sure you’ve carried out plenty of research and collected enough resources before committing to a major decision.
Market Research
Before you invest any of your own money (or seek that of others), it’s important that you’ve confirmed an interest in the market.
● Utilize the five basic methods of research to gauge consumer interest
● Carry out a competitor analysis to see how saturated the market is and how others have succeeded
● Calculate the cost of operations ahead of time, including any additional overheads to do with running sustainably
Climate Collaboration
There is a close-knit sustainable business community working to support each other. If you’re just starting out, it’s important to seek help and ingrain yourself within this ecosystem.
● The ASBN is a business network working together to build a just and sustainable economy
● Sometimes you need the help of institutions to help run a business. A WGU business degree could help improve your acumen.
● There are plenty of investors who are specifically looking to invest in sustainable ventures. Make sure you have an airtight business plan before making your pitch.
Going Zero
If you want to establish credibility as a sustainable business, it’s important that you do everything in your power to eliminate carbon emissions.
● It’s possible to structure your supply chain to reduce or eliminate CO2 emissions entirely
● Scrutinize the ingredients that go into the production of your products and work to remove any that contribute to deforestation
● Sustainable packaging is more affordable than ever and may even help to boost sales
ECOpreneurship is hard work - you’ll often have to jump through many more hoops than a typical business person but the rewards can be tremendous, both for yourself and the environment.
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