Give feedback on these two posts

post 1

My business is based around reducing construction waste by providing a resource that makes it makes it easy for builders to keep usable material out of landfills, and provides a direct economic incentive for them to do so. The goal of the business is to reduce waste by creating a network and infrastructure that facilitates mutually beneficial collaboration among the myriad players in the construction industry by promoting efficiency and participation in a strong secondary market for reclaimed/unused materials. I chose to model it as a nonprofit because the primary goal is to address a societal problem that has gone largely ignored, so, while there other organizations out there with similar goals, they are better seen as potential partners rather that competitors. This does not mean that competitive advantage is unimportant for my business, but rather than something we have over our peers, it is something I want to sell to existing companies as a vehicle for changing entrenched attitudes in the industry.

Construction companies tend to be geared towards volume and production, and consider a degree of waste as part of the cost of doing business. Having people dedicated to waste reduction and material reclamation simply does not fit into their business models, but being able to tap an external resource with expertise in these areas could have a direct impact on companies' bottom lines without requiring them to invest their own resources. My company's pricing plan is simple--we provide our service free of charge and cover our costs by taking a portion of the revenue created by selling recovered material on the secondary market, and our partners benefit by either taking the remaining proceeds or claiming the cost of donated materials as a charitable deduction. So ideally, if the business is run efficiently and can establish itself at scale, the fact that our revenue stream is based on extracting value from things that would otherwise have had to be paid to dispose of means that utilizing our service would be a win-win for everyone, and marketing would be relatively simple. In reality, getting there is no simple task.

The two biggest hurdles for my business are obtaining startup and operating capital for a business that operates on minimal margins by design, and building a network of partners large enough to support our operations and fund our objectives. So, like most nonprofits, the marketing needs to be designed more around fundraising and networking. Trade groups and government grants are the two most important areas I would focus on for fundraising. There are existing government programs aimed at funding waste stream reduction projects in the front range, so that is a good place to start, but getting trade groups to buy into my organization is probably the most critical part of my marketing plan. Depending on the results of the upcoming election, this might get easier, because ordinance 306, if passed, will place much stricter requirements for waste management on builders. Stricter regulations impact everyone, so it will be much easier to sell this idea if it is presented as a cost-effective way for business to do something they would have to do anyway. But even if that measure fails, it is indicative of increasing public pressure to make construction more sustainable, so my hope is that presenting donations to my organization as both a good public relations move and an investment in the continued success of builders across the front range will be enough to convince people to open their wallets.

post 2

I think I'm going to have to be pretty unconventional in marketing a food truck. Establishing a strong social media presence as well as building relationships with businesses that regularly work with food trucks will be essential. The biggest advantage I could leverage is personal relationships with breweries and offices that regularly have food trucks nearby. I'll need their approval to park my business in their lots! From there, my target market will be anyone nearby who's hungry. I don't think I'll need to focus on the target market very much because most of that is decided by where I can park to begin with.

Pricing for the food on the menu (and for the business overall) will need to be fair towards potential customers, but I think I can leverage a lower price than competitors if I ever need that advantage. In order to earn a profit, I'll have to consider primarily food and fuel costs - and I intend on focusing on delivering great food at a lower price. Since my business model relies on using large amounts of food being made and having it hot and ready to eat, that would mean my focus can be on having the inventory available in this case, in large volumes. However, I know that food trucks tend to be where people WANT to eat, but don't necessarily have an easier dining option available. Because of this, pricing can be more expensive or inflated because the immediate market isn't going to go out of their way for a cheaper option in these settings. That is something I can take advantage of effectively.