Campus Entrepreneurship

We recently profiled Eco-Libris and Green Cab AZ as interesting new firms that are part of the campus entrepreneurship trend and are targeting the growing green consumer segment.

Today’s WSJ has an interesting article by Carolyn Cui that covers the emerging trend of credit cards that donate provide ‘green themed’ rewards. Psychologically this green product (like many others) offers the user/buyer an offset for all their consumptions. It is a green get out of jail card (trust me, I drive a hybrid, I know the syndrome).

There is no doubt that the campus would be a great market for these products. We already know credit card firms love the campus as a market and offering green rewards card should be a slam dunk in terms of sign ups and spending.

Imagine if each month’s statement (assuming they only offer e-statements) gave the user an update on how much good they have done for the environment? This would be prominent and near the top. This  ‘monthly eco-impact statement’ that would clearly describe how many trees saved, gallons of drinking water provided, or carbon offsets the user’s purchases gave back to the planet. Users might even begin to look forward to getting their monthly statements.

Tim Berry has an interesting post on deciding what business to start. There is even a nice, short video (worth watching) on SBTV.com in which he is interviewed on this question of choosing a business. Below is a snippet from the post on how to decide on a business:

Look in the mirror. A good business to start is the one that matches who you are, what you know how to do, what you like to do and the resources you have.

It’s not like there are good businesses or bad business. There are businesses that….

1) You can do;

2) You want to do; and

3) Where somebody wants what you’re selling.

Those things come together in what’s the good business for you.

As far as the new business I am in the process of launching, I can answer Yes emphatically to the first two points (can do and want to do); the third is unclear because I am going into an industry open to innovation (consumer internet) and won’t really know until I get out there. I believe my products and services will fill needs and will likely have to tweak and change things as feed back comes in.

It is that challenge; that I have to go out and sell it and prove that this consumer business that I want to build (point two above) At the end of the day, is the core job of a majority of entrepreneurs. Going out and getting sales. And more sales. And then repeat sales.