5 insights from our conversation:
1. The ROI on investing in green companies
For investors, a company like Ecologi isn’t a huge source of revenue. It’s more finely tuned with the maximum amount possible going towards climate action in the most transparent, value-driven and purposeful way.
For larger companies, these types of acquisitions are an opportunity to put a stick in the ground to prove they’re committed to a huge amount of climate action, at scale.
It’s the feel-good factor premium – investing in something that is doing good and clearly seeing the impact you’ve made.
That underpins their entire ethos and Elliot believes that if they get that right, they’ll have the opportunity to reach hundreds of millions of people.
INSIGHT
Green investment is for a large part about demonstrating a commitment to climate action through purposeful, impactful actions.
2. The gateway to doing good
Ecologi is like an open net. They want to ‘catch’ as many people as possible to demonstrate how easy it is to make a difference.
Elliot believes that once you take the first step towards restoring the planet, you’ll be hooked! It starts with planting trees and then the impact spreads into other areas of your life. Step by step you begin to live in a more environmentally conscious way.
INSIGHT
Making it easy for people to take the first step in climate action often acts as a trigger to encourage more consciousness throughout their lives.
3. Appreciation for the invisible difficulty of business
As a founder, you expect setting up a new business to be hard. Trying to run it alongside a day job is even more crazy.
It’s enlightening to experience just how much work actually goes into it. Navigating all of the moving parts is a minefield and when you first start, you’re only dealing with the tip of the iceberg.
As the business grows and you can employ more people, the scope of your day-to-day involvement narrows and it becomes easier to manage.
INSIGHT
The difficulty of starting a new business is often invisible to the outside world. Starting a new business with perseverance brings gratitude and appreciation for both your own hard work and the invisible hard work of other businesses.
4. Founders sticking to their purpose
Ecologi, which was founded by Elliot, his wife Lucy and friend Alex, was launched at the worst possible time. They all had full-time jobs and Elliot and Lucy had a newborn child. It was a tough start but it has made them resilient. Having gone through that, they’re no longer apprehensive about any situation that might come up in the future.
A lot of investors are conditioned to assess whether the founder is going to stick it out. And Elliot admits he would have quit by now if he wasn’t so passionate about what they’re doing.
They’ve now started to build a legacy that will continue until someone comes along who can scale it at a faster rate.
INSIGHT
Showing your commitment to the purpose of your organization through resilience is a great way of reassuring investors that you believe in what you’re doing and that you’re in it for the long haul.
5. Identifying your zone of genius
Elliot’s genius ability is being able to gauge the right line to tow, knowing what’s right for a mission-led organization like Ecologi.
When you’re adding new features you need to know whether it’s setting the right tone for customers and future partners. Elliot has a good instinct for knowing what will work for the company – and what won’t.
Maintaining a consistent message is important for curating not just features, but also connections and partnerships.
As your company grows and you build your team, your own list of responsibilities reduces, granting you more time to stay in your zone and focus on what you’re good at.
INSIGHT
When you’ve found your zone of genius, utilize it to keep the business consistent and moving in the right direction.
