Thursday, October 08, 2009

Best Practices of Businesses Successfully Profiting From Green Initiatives

More food for thought from Triple Pundit -- this for all you eco-entrepreneurs seeking to do well by doing good...

Some of the keys to green business success:

Prove it, Conclusively! All of the successful green businesses in my network have a marketing plan that “overwhelms” the customer with evidence that their product and company are the “real deal.”

Sounds good to me -- as far as I'm concerned, the production impact, use impact, and re-use potential of products either reduces toxic pollution, habitat destruction, and emissions or it doesn't.  And I want to see proof, from a credible eco-label whose standards reflect the best science on the subject, be it sustainable forest management, materials toxicity, etc.

The next killer app for sustainability is price competitiveness. As a professional economist I inserted green price parity into my economic analysis and generated a stunning forecast of a $10 TRILLION global revenue sustainable economy by approximately 2017. I am seeing this green price competitiveness now emerging in all areas of our economy from sheet rock to solar to fast foods. Achieving the price-competitive killer app in sustainability is the key ingredient of The Secret Green Sauce™ that will provide us with restored employment, business profitability and a sustainable environment.

Couldn't agree more -- the sooner green products become priced more competitively (and they are), and we can shed the image of green products as more expensive (still the case too often, though it's getting better and better), the better.  Especially in this economy.

Studies show that given the choice between similarly priced items, consumers will choose the greener option.  Especially if it means it's the "safer" option, and the more efficient option (lower operating cost).  If it's legitimate, that option will use more sustainably produced materials (that don't for example, will come from destroying virgin forests), will be less toxic to people and planet alike, will emit fewer emissions, and it's end of life will be cradle to cradle or biodegradable.  And for us here at CVI, it's credibly achieving these outcomes that really benefit people and the earth that matters.

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