Wednesday, June 20, 2018

Just Because They're Right Doesn't Mean You're Wrong



I hit a steep learning curve when starting to figure out how to manufacture silvr.

After weeks of research and conversation, I landed on casting and injection molding as my manufacturing process of choice.

At the same time, I landed on the material I would use — 304 stainless steel.

About a month into reaching out to manufacturers, one wrote back saying that what I was asking for wasn't possible because of the resistance 304 stainless has.

I was embarrassed and crushed to know I had to go back to the drawing board.

With more research I found that 304 stainless works better with a manufacturing process called machining. So, I started reaching out to manufacturers for this...

...only to be told "Why don't you do injection molding? It will cost so much less and scale better?". I was shocked to know that there were plenty of shops out there capable of carrying out my original manufacturing plan.

I completely abandoned what I thought was correct approach because one person, who I perceived to be more knowledgeable, told me it wasn't possible. 

Now, I'm back to my original approach and feeling foolish, but more confident all at once.

Moral of the story; don't let one person or comment change your course. Just be confident enough in the path you have chosen. 

Thursday, June 14, 2018

I'm Looking for a Partner




I'm looking for a partner to join me in bringing to life a company called silvr.

My work communication style is pretty straight-to-the-point. Personal guideline of "work hard and be nice to people." So, respectfully, I'll get right to it.

ABOUT SILVR
Silvr uses the power of design to reduce the use of disposable plastic products, by offering more attractive alternatives. I was inspired by how the likes of S'well® and Tesla were able to change consumer behavior to be more environmentally sustainable by focusing on more desirable design. 

The first product to launch from silvr will be beautifully designed personal flatware that's meant to reduce the use of disposable plastic silverware. Currently, what's available in the reusable cutlery market is very utility or "granola" in style...sporks, bamboo, etc..Silvr aims to offer a third option that feels more premium and that most would be excited to use.

MY ROLE/STRENGTHS IN SILVR
I'm product/brand/marketing heavy. Second to that, I have an understanding of business direction based on what's going on in the market and data. With a Sustainability MBA, I'm comfortable navigating all of this while optimizing finances. I work on silvr full time and I'm based in NY. 

PARTNER'S ROLE/STRENGTHS IN SILVR
To complement me, silvr needs an operationally-focused person on board... P&L/manufacturing/order fulfillment heavy. Second to that, the ideal partner would have sales skills to pull some weight with getting initial orders and an ability to communicate well with a future sales team. I'm looking for someone to dive in with me full time, but am open to lower hourly commitment to feel it out at the beginning.

He, she, or they do not need a background in sustainability or sustainable goods, but should be excited about silvr's mission of reducing disposable plastic waste. Background in consumer goods is a major plus.

He, she, or they can be based anywhere in the US.

PROGESS TO DATE
I started working on silvr in October 2017. After multiple rounds of design and prototyping, the prototype is pretty much finalized. I've spent considerable time on brand and sales strategy and have a good idea of how I want to enter the market. Through extensive user testing, I've validated demand for the product from consumers. Beyond direct to consumer, early discussions with customers ranging from small boutiques to larger enterprise have been encouraging.

I'm in touch with a few manufacturers, but have not selected one yet.

If you want to get involved in this capacity or know someone who might, shoot me an email at oliviagossettcooper@gmail.com. Thanks!


(More info on me if you'd like...
2010-2016 I worked as a copywriter for advertising agencies and digital products.
I'm really focused and trained on what drives consumers — from product to copy. I love the psychology behind it. I'm a good mix of creative and strategic.

2016-2018 I became an MBA in Sustainability
My personal goal is to use business to improve responsible consumption...if we are going to consume, which we will for the foreseeable future, let's do it in a way that's less harmful to planet and other people.

My work style is to work when working and play when playing. I'm not the best at balancing both at the same time. But, I think building relationships is important. Work hard for sprints then taking a little mind break in the form of chatting about current events, going for a walk, watching a quick video, etc..)

Wednesday, June 13, 2018

Rethinking VC Return Models for Investing in Mission-Driven Companies



The most popular way venture capitalists currently seek and expect returns are through as-fast-as-possible exits via acquisition or IPO. Fair enough. They give startups money and would like to get it back, and then some, as soon as possible.
Here’s the problem. These popular return models aren’t a good fit for mission-driven businesses, which is potentially keeping VC investors from investing in them.

Mission-driven companies, by ethos and definition, are not meant to rise up to then be absorbed by another company and its mission, nor dictated to by stakeholders seeking hyper short-term returns on Wall Street.

No, the very reason for starting the enterprise was to commit to bettering something —  the planet, working conditions, animal welfare etc.. This is what drives the entrepreneurs starting these mission-driven companies.
The investment return model for mission-driven companies needs to change to reflect those companies’ longer-term expectations.
Rather than returns through exit, VC impact investors should seek returns through preferred dividends that grow over time as the company, and its mission, sustain and succeed.

The best mission-driven companies realize that profit is just as important as planet or people to the company.

Without it, they would not sustain themselves, which would terminate their mission. So, while profit distribution return terms have grown unattractive to a VC world bruised by growth before profit, the dividend model is ideal for mission-driven companies.

This isn’t a new model, just an unpopular one. The crowdfunding site Kickstarter recently kick-started a dividends return model in the VC favorite sector of tech. The company shocked the market when they opted for dividends rather than an IPO or acquisition in 2016.
Many argue that this approach could hurt the growing business, as profits should be invested back into the company. But, this is only a problem for companies that had the upfront capital in the first place. With a no-exit future acting as a 10,000-foot hurdle for mission-driven companies, their problem is the opposite. They want to get to a place of profit sharing as fast as possible, because doing this is the only way that they can get the initial investment these businesses need.

What’s more, the current VC model is based on high risk, high reward, where investors bet on many and expect a few to return big investments. They generally want profits to be invested back into the company to help it grow, no matter whether it remains profitable or not. Being a financially sustainable company is not what gets investors their high returns, but being a risk-taking high-growth company that reaches a higher valuation and IPO’s or sells will. What this all means is that VC investors are not rooting for many of their portfolio companies to survive long-term, they want them to risk everything to either crash and burn or exit and deliver the desired return.

If it’s not already obvious, this doesn’t jive well with a future full of mission-driven companies. The future needs those companies to stick around to see through their mission.
The solution to this issue is to create a return model based on sharing the success of company profit growth and financial success. This could be in the form on dividends or other profit-sharing agreements.

As mentioned earlier, this model is uniquely fit for mission-driven companies. They will then focus on profit more than most other businesses because it is only through profit that their business can grow and, therefore, their mission can succeed.

Tuesday, June 12, 2018

Three Ingredients to Successful Sustainability Marketing


For over 10 years, I studied how consumers reacted to content. As a creative and digital product copywriter, I was obsessed with how every word they saw could sway them one way or another.
Now a sustainability MBA and entrepreneur, I am even more driven to understand consumers’ behavior, but as it relates to being more responsible consumers rather than how to get them to buy a million more things they don’t need.

By observing everything from user comments on “sustainable” products, to looking at other less sustainable messaging and the reactions of consumers there, I have developed a few hypotheses on how to market and speak with consumers to drive the adoption of more sustainable behavior.
Here are the most common successful traits of “sustainability” messaging to consumers I have seen that lead to higher adoption of responsible consumer choices.

DON'T RELY ON FACTS

The most widely-accepted messaging that leads to more sustainable consumer behavior tends to use images, instances, and videos more than stated facts. The world went up in arms after the release of a few videos showing sea turtles with a straw in their noses and dead whales with straws in their stomachs. It was only after videos like these that the concept of straws being bad become more common on posts by people who led more sustainable lives and those who didn’t. It enabled a Kickstarter campaign for a foldable reusable straw to raise $1.7 million, 13,380% more than their initial ask.

SPEAK OUTSIDE THE BUBBLE

Sustainable concepts and products that reach a larger audience use messaging that doesn’t speak directly to consumers already leading a more sustainable lifestyle. Sounds obvious, but too often companies try to market more sustainable products with images and copy that resonates most with eco consumers. To make a bigger impact, these companies should consider a different target market and speak directly to them. The most successful companies selling more sustainable goods understand that people leading more sustainable lifestyles will be excited by their product already and don’t need as much attention or acquisition costs going towards on them. S’well Bottle is a prime example of speaking to an audience outside of the sustainable bubble by offering a product that focused on style, messaging that focused on fun lifestyle, and pricing that shouted luxury.

MAKE IT ABOUT THE PEOPLE, NOT JUST THE PLANET

Hands down, the most important ingredient in successful sustainability messaging is to focus on the benefit to the consumer. The greatest example of this is the organic movement. When organic became known as something that wasn’t just a thing that hippies opted for to help the planet, but was actually better for one’s health, it become a mainstream demand. A recent example of a company finding success with this approach is Rothy’s shoes. Their messaging focuses on style and offers a shoe that doesn’t give blisters. Oh, by the way, they are made from recycled plastic and 3D printed.

There are more nuanced aspects of successful sustainable messaging, but here I have presented the most important three. Together, they can help you get your message, initiative, or product to reach a wider audience and get people more on-board with your sustainable idea. These are not one-size-fits-all solutions, and you should always listen to your customers and the market to adjust messaging accordingly. But, keeping these keys to successful sustainable messaging might get you started on the right foot to having a bigger impact.

What I’ve Learned From Writing Over 300 Sustainability Lifestyle Tips


Every weekday, I share a sustainable lifestyle tip through a community newsletter. This didn’t start because I had hundreds of tips up my sleeve, waiting to be shared. I started the newsletter knowing about 50 tips. Over the course of a year, I had to come up with new, creative ways to enable people to help the planet or at least reduce their impact. The process was eye-opening in many ways.
Here are some of the biggest takeaways I have after sharing one year’s worth of tips.
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Rethink Everything

Before long, I had to start monitoring every little decision I made and action I took throughout the day to find opportunities for better environmental choices that weren’t already on every eco blog. As I’m writing this, right now, for example, I can think about if my laptop is 100% charged and therefore I can unplug my charger. I can consider the screen brightness to optimize battery life. I can think about where this laptop came from and if there was a used laptop or one made with components more local to my location. I can look at the table it’s resting on and ask what finish it has on it, what woods it’s made from, and where the vendor is located. I could go on.

Be Realistic, but Creative

You can’t ask too much from people. Once they start to feel like a sustainability tip is beyond them, they can’t connect to it. They feel like it’s something only extreme activists or “sustainability people” do. I have found that people get most excited about tips that they would have never thought of, but are so damn easy they can’t believe they’ve never thought of them before. “Choose the Lonely Banana”, “Turn the Lights of When Leaving a Restaurant Bathroom”, “Only Use a Pea-Size Amount of Toothpaste”….
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There a Million Ways to Tackle One Environmental Problem

From plastic waste to CO2 emissions, each daunting threat to the environment caused by humans can be broken down into itty bitty decisions we make throughout the day, each different from the next. For example, there is an opportunity to reduce your contribution to methane emissions in the packaging of the product you decide to purchase, in how much food you make, in how much food you eat, in the way you dispose of your tea, in how you prepare your tea...and that’s really just the tip of the iceberg. It’s better to pick a big environmental issue and master one approach to ending it at a time. Otherwise, you end doing things like forgetting your reusable mug.

People Pick and Choose

There are a few eco all-stars who take an exhaustive approach to sustainable living and incorporate nearly every tip I’ve shared over the past year or so. I practice nearly everything I suggest and even I slip up or need to work harder at following my own sustainability tip advice. For the most part, though, there are a few tips that stand out to a person, and those are the ones they will adopt. Each person might take to different tips, but there are always a few ideas that really speak to each individual.
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People are Really Curious About This Stuff

It’s not that people don’t care, it’s that they don’t know where to start. Hearing about climate change and rising sea levels and the rise in the endangerment of species is really overwhelming, but it can be hard to know how to help if you aren’t a marine biologist or don’t study sustainability in depth. By offering simple ways to help, people feel more connected to the cause and start to feel comfortable asking more questions. One of my favorite things about writing the newsletter is when people reply wanting to know more, or wondering, “but, what about this…?”. If they have a good questions about choosing bar soap over body wash, I bet they have even greater ones about the climate change news they read every day.

You Can Make a Difference With Us

I get asked a lot whether or not the small individual tips I recommend really can make a difference. Ironically, the only thing that could stand in the way of the answer to this question being “heck, yes, you can make a difference!”, is the willingness of each individual to participate. It’s also not just about your direct impact. Each of us can act as a model to other people, showing them a more sustainable way of making everyday choices, and hopefully inspiring them to do the same.
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To learn more about the newsletter and see what sustainability tips come out next, visit todaywewillnewsletter.com.

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