How can green entrepreneurs tap into the circular economy trend?

1 Identify a problem

The first step to tap into the circular economy trend is to identify a problem that you can solve with your green idea. Think about the environmental and social impacts of the current linear economy, where products are made, used and thrown away. What are the pain points, inefficiencies and risks that you can address with a circular solution? For example, you could focus on reducing plastic waste, saving water, extending product life, or improving energy efficiency.

5 Scale your impact

The fifth step is to scale your impact and grow your business. You need to develop and implement a strategy that allows you to reach more customers, increase your revenue, and reduce your costs. You also need to measure and communicate your environmental and social benefits and how they contribute to the circular economy goals. You can use different tactics to scale your impact, such as innovation, differentiation, diversification, or franchising. For example, you could launch a new product line, enter a new market, or license your solution to other businesses.

6 Learn from others

The sixth and final step is to learn from others and get inspired by their success stories. You can find many examples of green entrepreneurs who have tapped into the circular economy trend and created value for themselves and the society. Some of these examples are: Loop, a platform that offers reusable packaging for everyday products; Fairphone, a smartphone that is designed to be modular, repairable, and ethical; or Ecosia, a search engine that plants trees with its profits. You can learn from their challenges, strategies, and achievements and apply them to your own business.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?