The businesses involving green chemistry techniques place human and ecological health at the center of profitable product design and manufacturing process. They focus on reducing the consumption of non-renewable inputs in order to shift the petrochemical based economy to bio-based economy by designing products having health focus and environmental attributes along with the functional performance (Spinelli & Adams).
With the increasing use of electronic devices like mobile phones, computers, laptops, televisions, refrigerators and air coolers among others, the e-waste production is also increasing. The e-waste production in Nepal was about 18,000 metric tons in 2017 and is expected to increase in coming years. Due to lack of proper rules, regulations and laws in Nepal regarding the management of e-waste, they are disposed carelessly that is resulting in environmental pollution along with the deteriorating health condition of people (Satyal, 2017). Keeping this in mind, I spotted that there is massive market opportunity in the business related to e-waste management. But I am not being able to start my business due to lack of knowledge about the complex science that lies behind this. In such situation, I will take following steps:
Gather Information Through Internet
Internet is the easiest and largest learning platform these days. So, I will try to gather more information about the e-waste management businesses operating in different parts of the world to know about tools, techniques and processes adopted by them through cold search or forums. This will provide me clarity about the idea I want to create my business on.
Look for Partner(s)
After collecting the information and validating my idea, I will look for partner(s) in my friend or family circle who has knowledge about the science and technology associated with this business and is willing to work on it. This will make my work easier as well as provide me an opportunity to know more about the subject.
Visit Existing Companies
In Nepal, the companies like Doko Recyclers and E-waste Management Nepal are already working in the same area. I will visit the physical location of these companies and observe their business processes so that I can gain practical knowledge about how the overall activities are carried out that will provide me clear idea about how I am supposed to run my business.
Mentorship
One of the effective ways to know about different aspects associated with the proposed business idea is mentorship. The mentors will provide us with knowledge and experience that cannot be acquired through books or internet. The encouragement and networking opportunities provided by the mentors will help in gaining industry-specific advice based on their own practice that increases the likelihood of the business being successful (Blaney, 2016).
If we go by the Timmons Model, the first step of entrepreneurial process is accomplished after the identification of available opportunities. After this, I need to build a team and work towards acquisition of the resources needed to make profitable business out of the available opportunity. So, I need to look for the team members having adequate knowledge about science and technologies to complement my skills and work together with the team members to decide on the ways to acquire financial, human and physical resources needed to run the business (Spinelli & Adams).
References
Blaney, K. (2016, October 2). The Importance of Good Mentorship in Business and Where to Find it. Retrieved from Techstars Blog: techstars.com/content/community/im...
The businesses involving green chemistry techniques place human and ecological health at the center of profitable product design and manufacturing process. They focus on reducing the consumption of non-renewable inputs in order to shift the petrochemical based economy to bio-based economy by designing products having health focus and environmental attributes along with the functional performance (Spinelli & Adams).
With the increasing use of electronic devices like mobile phones, computers, laptops, televisions, refrigerators and air coolers among others, the e-waste production is also increasing. The e-waste production in Nepal was about 18,000 metric tons in 2017 and is expected to increase in coming years. Due to lack of proper rules, regulations and laws in Nepal regarding the management of e-waste, they are disposed carelessly that is resulting in environmental pollution along with the deteriorating health condition of people (Satyal, 2017). Keeping this in mind, I spotted that there is massive market opportunity in the business related to e-waste management. But I am not being able to start my business due to lack of knowledge about the complex science that lies behind this. In such situation, I will take following steps:
Gather Information Through Internet
Internet is the easiest and largest learning platform these days. So, I will try to gather more information about the e-waste management businesses operating in different parts of the world to know about tools, techniques and processes adopted by them through cold search or forums. This will provide me clarity about the idea I want to create my business on.
Look for Partner(s)
After collecting the information and validating my idea, I will look for partner(s) in my friend or family circle who has knowledge about the science and technology associated with this business and is willing to work on it. This will make my work easier as well as provide me an opportunity to know more about the subject.
Visit Existing Companies
In Nepal, the companies like Doko Recyclers and E-waste Management Nepal are already working in the same area. I will visit the physical location of these companies and observe their business processes so that I can gain practical knowledge about how the overall activities are carried out that will provide me clear idea about how I am supposed to run my business.
Mentorship
One of the effective ways to know about different aspects associated with the proposed business idea is mentorship. The mentors will provide us with knowledge and experience that cannot be acquired through books or internet. The encouragement and networking opportunities provided by the mentors will help in gaining industry-specific advice based on their own practice that increases the likelihood of the business being successful (Blaney, 2016).
If we go by the Timmons Model, the first step of entrepreneurial process is accomplished after the identification of available opportunities. After this, I need to build a team and work towards acquisition of the resources needed to make profitable business out of the available opportunity. So, I need to look for the team members having adequate knowledge about science and technologies to complement my skills and work together with the team members to decide on the ways to acquire financial, human and physical resources needed to run the business (Spinelli & Adams).
References
Blaney, K. (2016, October 2). The Importance of Good Mentorship in Business and Where to Find it. Retrieved from Techstars Blog: techstars.com/content/community/im...
Satyal, U. (2017, November 12). Nepal Lacks E-waste Management Laws. The Himalayan Times. Retrieved from thehimalayantimes.com/nepal/nepal-...
Spinelli, S., & Adams, R. J. (n.d.). New Venture Creation: Entrepreneurship for the 21st Century (Nineth ed.). Irwin: McGraw Hill Education.