It all started with a friend. My friend Tamiko Franklin came as a guest to one of my Entrepreneurship classes this semester. She came in last week and the students had to project what kind of entrepreneur she was. They thought of cliches like Fashion (not a bad association, just predictable as Tamiko is a well dressed professional) and the more against type like Construction company magnate. In the end, they got a clue that she was considering entering into the recycling business from a career as a Copyright Attorney. 10 teams of 5 to 7 prepared short video presentations on the kind of Recycling Entrepreneur she could be....paper, plastics, tires, aluminum and many garbage to art themes emerged. The creativity the students mustered was an impressive array but they failed to Google Tamiko and really learn about her and how she might shape her new business. This was a valuable lesson about ideas versus opportunities. Ideas can be fun and come easily but to really have the right fit the opportunity has to be right on many levels...a right fit to the entrepreneur, to the context or environment that the enterprise will operate and a right fit to the potential customer markets in a way that will be better than the existing competition. Thus, the students exhibited much creativity but when they match it with research as they progress through the course learning modules they will discover the value creation elements of the enterprise and the different approaches which can maximize profits of all kinds: people, planet and profit in terms of money as well.
Here is a sampling of research that could be done along the various components to building a business plan for Tamiko Franklin
1. Background - http://virtuallyblind.com/2008/10/23/interview-tamiko-franklin/, http://www.intelektiv.com/index.php?option=com_content&view=article&id=9&Itemid=20
2. Idea Generation - http://www.which.co.uk/money/bills-and-budgeting/guides/10-ways-to-make-money-by-going-green/green-money-making-ideas/, http://www.springwise.com/eco_sustainability/ourgreendistrict/, http://sbinfocanada.about.com/od/businessideas/a/greenbizideas.htm
3. Marketing - http://www.nerc.org/,http://www.treehugger.com/sustainable-product-design/post-consumer-recycled-goods-recycling-waste-into-stuff.html, http://www.recycleinme.com/
4. Operations - http://science.howstuffworks.com/environmental/green-science/recycle-one-thing1.htm, http://www.ehow.com/how_2019569_start-recycling-business.html
5 Finance - http://www.treehugger.com/corporate-responsibility/4-ways-to-earn-cash-from-recycling.html, http://www.epa.gov/osw/conserve/rrr/rmd/finance.htm
What other resources could you investigate and where would you put them in her business plan?
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A recycling program is only successful if people support and actively participate in it, so she can conduct a survey about attitude and behavior towards recycling.
ReplyDeleteAfter interpreted survey results she can take a look at the data to see what they say, and any action she might take based on those results. She can organize education to increase prosocial and pro-environmental behaviours among her citizens. People will learn more how to segregate wastes and enable Tamikos Company to collect wastes much easily, and increased the recycling behaviours, and at the end company’s profit.
Also, Tamiko can organize action like “spring clean your wardrobe”, when people can voluntary bring textile waste they don’t need any more. She can send educative brochure and open call to her citizens on as many as possible addressees in her city or in her country…
So, she can investigate needs of textile industry or waste users for secondary textile row materials who waste materials can convert into new products.
There are some links below she can look for more information:
http://www.lumes.lu.se/database/alumni/01.02/theses/ho_yanyin.pdf
http://www.essebitex.com/index_en.html?gclid=CNHSoPCSn6wCFUJI3godAnuT_g
Sorry I forgot to put a note that I would like to put my suggestions in Marketing part of her business plan
ReplyDeleteSources for Tamiko Franklin's BP:
ReplyDelete- Idea Opportunity Analysis:
http://www.ilsr.org/recycling/recyclingmeansbusiness.html
- Marketing:
Competition:
http://www.calrecycle.ca.gov/BevContainer/Recyclers/StartBiz.pdf
under: Chapter 2: Who are my competitors?
Promotion:
Viscusi, W. K., Huber, J., Bell, J. (2011): Promoting Recycling: Private Values, Social Norms, and Economic Incentives. American Economic Review. Vol. 101, Issues 3.
- Operations:
http://www.squidoo.com/recyclingbusiness
-Finance:
http://www.epa.gov/osw/conserve/rrr/rmd/finance.htm http://www.recyclingsecrets.com/home-based-salvage-recycling-business-manual.htm
Some general readings:
Changing The Metrics of Green. PPI: Pulp & Papper International; Jun2011, Vol. 53 Issue 6
Disposable Income. Business North Carolina; Jun2011. Vol. 31, Issue 6
Candido, L. . (2011): The recycling cycle of materials as a design project tool. Journal of Cleaner Production. Vol 19, Issue 3
Baharum, M.B., Pitt, M. (2011): Retail Shopping Center Recycling Initiatives. Journal of Retail and Leisure Property. Vol 9, Issue 3
I appreciate everyones comments and suggestions and I'm listening, so keep em comin' :)
ReplyDelete