In talking with businesses and entrepreneurs I am almost always asked these two questions:
- Is there a green industry or market segment experiencing attractive levels of revenue growth?
- If I were looking to be a green entrepreneur what are key paths for success?
The food industry is one that has embarked upon revolutionary changes in the areas of wellness and sustainability. There are many paths to entry for smaller companies and innovative entrepreneurs. For example, a USDA report entitled Oversight of the National Organic Program estimates that organic product sales reached approximately $25b dollars annually in 2008 with projected 14-21% annual revenue growth. And smaller, innovative companies have a real opportunity as the food industry’s major players confront issues of credibility as their traditional customer base, along with government regulators, raise such telling questions as why there are no ribs in the McDonald’s McRib or no real maple in their Fruit and Maple Oatmeal. Rapid and profitable business success is an opportunity in the food industry that is being realized by credible companies selling authentic products.
One example of a success in the space is Numi Tea and its CEO and co-founder, Ahmed Rahim. In the following video interview Ahmed talks about his use of socially responsible, environmentally sustainable, business practices in the achievement of Numi Tea’s impressive annual sales growth and profitability. For example, his marketing best practices include building customer connections and loyalty through cause marketing and enriching his brand identity with packaging that is distinctive for its use of sustainable materials like bamboo.
The video concludes with Ahmed explaining how he is implementing the following four keys to entrepreneurial success that are best practices every prospective green entrepreneur should consider:
- Follow Your Heart
- Hire The Right People
- Keep It Simple
- Be Mission Vision Driven.