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Industry Profile: Green Technology

Rebekah Bishop - Tuesday, November 27, 2012
What is Green Technology, and how can it improve your business strategy?

Green technology has become a buzzword over the last few years, referring to a variety of innovative products and techniques designed to promote sustainable living. As both our need and awareness increases for alternative methods of protecting the Earth's resources, green business strategies have become valuable tools for increasing efficiency as well as attracting a growing market of eco-minded consumers. Many business owners still believe that green technology can benefit only those businesses involved in energy or food production, however, with the advances being made in areas such as heating systems and recycling methods, every business can find ways to employ earth-friendly alternatives to their existing processes.

Developing and providing green technology has been the platform for many new businesses to find their niche in a competitive world, businesses such as Wolbrink Architects Chartered, a Chicago architectural firm that designs and constructs eco-sensitive, energy efficient buildings. Their ongoing project, Green Dream, is creating ENERGY STAR-rated condos in Chicago. Impressively, each unit is between 46.5-57.5 % more energy efficient than ENERGY STAR's baseline standards. In response to this incredible innovation, Wolbrink Architects received the 2006, Mayor Daley's Greenworks Award for market transformation. http://www.wolbrinkarchitects.com/

Directly capitalizing on green technology, is the dry cleaning service, Greener Cleaner. Using a liquid silicone solution, the non-toxic alternative to the commonly used perchloroethylene, Greener Cleaner is able to say that their product is safer to use and non-hazardous to the environment to make or dispose; it also cleans more effectively and is gentler on fabrics, giving clothing longer life cycles and reducing waste. http://www.greenercleaner.net/

Even fashion can be green, as proved by Mountains of the Moon, an eco-friendly clothing line that focuses on sustainability and responsibility. They are committed to using only low-impact dyes and long lasting fabrics such as cotton and hemp, grown without the use of pesticides and manufactured in US, sweatshop-free facilities. Designer, Melissa Baldwell intentionally creates “designs that are stylish but that can also be worn for multiple seasons and that surpass short-lived fads and trends . . . less likely to end up in landfills.” http://www.mountainsofthemoon.com/

Innovative businesses like these are receiving encouraging responses for their contributions to the green movement. Not only do a growing number of consumers prefer green products, but some states and influential corporations have begun to offer incentives to green businesses. Several grant funds are available in Illinois, including assistance for installing efficiency technologies to incentives for green building projects. 

http://www.dsireusa.org/incentives/index.cfm?State=IL 

In the corporate world, the investment firm, Goldman Sachs, announced this year a “$40 billion target for financing and investing in clean technology companies over the next decade.” http://www.goldmansachs.com/our-thinking/focus-on/clean-technology-and-renewables/index.html

Other opportunities available to green-minded entrepreneurs include franchising schemes which allow you to operate your own business from an established platform. One such opportunity is being offered by EASI Energy Automation Systems Inc. which creates products designed to improve efficiency in existing electrical systems. EASI provides the needed training, tools and support to entering affiliates, and start up costs are minimal as inventory is kept by the corporation, and affiliates may work from home and at their own pace.

http://www.energysavingbusiness.com//energy-automation-systems-opportunity.php

Another valuable resource for Chicago entrepreneurs is the recent establishment of the Green Exchange building housing a wide range of tenants each operating a sustainable business within the localized community. Renovated from a factory built in 1913, the five story building now features state-of-the-art green technology including a green roof with 8,000 SF organic sky garden, high efficiency heating and cooling system, a 41,329 gallon rain cistern, and an escalator with occupancy sensors. Tenants benefit from increased exposure, synergy opportunities with like-minded businesses, and reduced overhead as a result of building efficiency and by sharing common spaces and amenities. http://www.greenexchange.com/

Opportunities like these make eco-awareness a valuable and even necessary consideration for forward thinking entrepreneurs. To learn more about how you can green your business or start a green business, visit these additional resources.

Green Certification and Industry Partnerships: http://www.sba.gov/content/starting-green-business

Find Green Business Grants: http://www.brightgreentalent.com/green-business/green-business-grants/

Green Franchise Opportunities:

http://www.franchisedirect.com/greenfranchises/?gclid=COnypqjA4LMCFexAMgod1VUAGw

5 Green Businesses You Can Start From Home: http://www.entrepreneur.com/article/199952




Do Your Values Guide Your Business?

Grace Yi - Tuesday, May 01, 2012

 Posted by Brian Jenkins

 

"Core values. Is it how much something is worth?" asked Melody, a Chicago high school student. "If it doesn't directly impact my bottom line, how are values even relevant?"

This interaction with a student working on her first business plan struck the classroom instructor, which led to my visit.

The business venture that Melody and her team were pursuing was more than just a little "risque." Though the team had conceptualized a provocative business idea, its members faced challenges in moving past the first step of the StartingUp Now guidebook: Core Values. With profitability being the team's primary driver, aspects of the business's impact on its employees and their community--as well as the owners themselves--waned in comparison to their goal in "making money."

I was more than willing to visit the classroom and interact with the student team per the teacher's request, having experienced many of the same challenges that educators face in working with aspiring youth entrepreneurs.

Core Values acts as the first step in the StartingUp Now business guidebook, setting a foundation for the entrepreneur in thinking through their business idea. It's quite interesting to hear the various comments through my interaction with users--especially younger readers--who don't see the direct connection between how our values guide all aspects of our lives...even business operations.

Values are taught--historically at home, reinforced in school, and esconced through our peer groups. Values are not intrinsic--they are a learned behavior. As the traditional value reinforcers (i.e. home, school, religious institutions) are being replaced or expanded via social networks and media, where are students "learning" their values from?

This is why Core Values precedes all the other steps in the StartingUp Now guidebook. We want the future entrepreneur to make the correlation between their values and their business operations. I want people to struggle and force themselves through this section...even coming back to rewrite their values after discovering their own.

Entrepreneurship training is life training. By simply discussing Step 1: Core Values, the students and I were able to discover they actually do have values beyond the goal of generating profit, such as family, safety and stability. They simply were not making the connection between the influence that their values had on their business operations--that, in many ways, their values as a business were very much a reflection of themselves. Values act as a compass in making one's decisions, or as one of the students said, "It's like a GPS for our company, it helps us not to get lost."

Through the process of "facilitating vs. lecturing," the students and I, in an open-ended discussion, navigated various business scenarios that taught them how different types of values were profitable but harmful. They are now discovering their own personal values through their business planning process.

While wrapping up, a student named Hector asked, "Do you think an investor would invest in a business like ours?" He was thinking more like an entrepreneur than he realized. Through the process of engagement, the act of listening, and the encouragement for students to be empowered in their curiosity and choices, adult entrepreneurs can help shape the values of future entrepreneurs worldwide.

What do you think? Do core values guide business operations? How do you determine your core values?


Share your comments here or with the global business community on the Skillcenter message board.



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