With all the save-the-planet mania out there right now and the promise of government tax breaks for everything from wind to solar power, many would-be entrepreneurs are wondering how they can get a piece of the "green" action. But launching a business that's focused on helping the environment is just like building any other business, and it requires just as much, if not more, hard work and planning.
"The word 'green' is clouding the issue of entrepreneurship," says Andrew Hoffman, associate director of the University of Michigan's Erb Institute for Global Sustainable Enterprise. "Just because it's green doesn't mean it's going to make money." His two key pieces of advice: Avoid the gold rush mentality, and look at whether there's demand for a product or service.
Ian Gardner's story is a perfect example of how making a green business profitable can be a slow go. Gardner, with a background in the energy business, thought some sort of "green" business would be a logical next step. But even with his experience, it took a few years before his wind-power company, Helix Wind Corporation, started bringing in real sales.
"The word 'green' is clouding the issue of entrepreneurship," says Andrew Hoffman, associate director of the University of Michigan's Erb Institute for Global Sustainable Enterprise. "Just because it's green doesn't mean it's going to make money." His two key pieces of advice: Avoid the gold rush mentality, and look at whether there's demand for a product or service.
Ian Gardner's story is a perfect example of how making a green business profitable can be a slow go. Gardner, with a background in the energy business, thought some sort of "green" business would be a logical next step. But even with his experience, it took a few years before his wind-power company, Helix Wind Corporation, started bringing in real sales.
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