TedTalk | Why Green Startups succeed
This TedTalk with Bill Gross really hits the spot about why this is the time to create a Green Startup. His research about why your (Green) Startup will succeed got surprising results…
Bill Gross is a very experienced entrepreneur and founder of Idealab, an incubator of inventions, ideas and businesses. Bill Gross believes in the same principle on which The Green Startup is based, namely that startups are one of the greatest forms to make the world a better place. He shares his insights in the hope that he can help startups to have a higher success ratio.
He says; “If you take a group of people with the right equity incentives and organise them in a startup, you can unlock human potential in a way never before possible. You get them to achieve unbelievable things.” This is what we believe as well and because of that, we try to help startups to play a role in the transition to a sustainable world. We believe that we need human potential in a way that was never before possible, since we need to make a change that was never before possible. Therefore, we think it is important to determine why Green Startups succeed or fail in order to increase their success ratio.
In this TedTalk Bill is very excited to share surprising research findings about what makes companies succeed the most. In other words, what factors are most important for startup success. In the last 20 years, Bill Gross’ company Idealab started more than 100 companies, many successes and many big failures. He asked himself “If startup organisations are so great, why do so many fail?”. He tried to look across what factors accounted the most for company success and failure. He addressed the five most important factors related to business success:
The results really surprised him: the number one thing appeared to be timing. Timing accounted for 42 percent of the difference between success and failure.
Thus, why your Green Startup will succeed is all about momentum. According to Bill Gross, the best way to really assess timing is to look whether consumers are ready for what you offer them. Right now, increasing global problems like climate change, biodiversity loss and ocean acidification are more visible then ever. The impact that people and businesses have had on the environment cannot be denied anymore. This has led to an increasing consumer demand for sustainable alternatives. Never before have people been as involved with making sustainable choices as now. When looking at sustainable consumer behaviour research, a large part of the consumers report that they are concerned about environmental issues but are struggling to translate this into purchases. Here lies the gap in the market for businesses at the moment, informing consumers and making the sustainable choice available, attractive, and affordable.
Moreover, the goals of the VN and EU to mitigate environmental impacts are putting pressures on governments. This has led to an increasing focus on sustainability in policymaking. This means that as a business, you will have to meet increasingly strict regulations around sustainability. However, you will also be able to apply for an increasing amount of different government subsidies purposed for sustainable businesses. Concluding, this is the perfect timing to start a sustainable, Green Startup.
Bill Gross found that timing is the most important factor for company success. That means that besides all the other reasons to create a sustainable Green Startup, you will also have the odds on your side. If you’re interested in how to become a Green Startup, check out our other articles and subscribe below.