What does sustainable development mean?

Let’s start with a very brief summary of the concept of sustainable development. A well-established model of sustainability spans three different areas: ecological, social, and economic. Ensuring that your business encompasses these three sustainability dimensions is the key to sustainable development.

The above model is often summarized by the phrase:

Så skapas hållbar utveckling långsiktig lönsamhet

Tidigare konstaterade vi att hållbar utveckling är lika med långsiktig lönsamhet. Nu ska vi göra en liten mental övning i att översätta detta till konkreta anledningar.

🌱 Ekologiskt

Ekologisk hållbarhet handlar till stor del om att använda tillgängliga resurser på bästa möjliga sätt. Ingen affär eller verksamhet tjänar långsiktigt på att slösa med resurser. Att återvinna, återbruka, använda förnyelsebara material och att vara energisnål etcetera är helt enkelt bra affärer.

Kan du som företagare leverera kundnytta och stora värden för din kund men med ett mindre avtryck och mindre resursförbrukning så bidrar det till din lönsamhet. Visst, i det kortsiktiga perspektivet kan det innebära investeringar, men i det långa loppet kommer den som är mest resurseffektiv att vinna. Att inte använda resurser på ett effektivt sätt, eller i värsta fall att bidra till ren miljöförstöring, blir dessutom dyrare och dyrare. Råvaror blir bristvaror och ökar i pris, och regler och lagar kring vilket avtryck som tillåts blir striktare och striktare.

Kostnaden för att belasta vår planet kommer helt enkelt öka markant. Den som inte är förberedd på detta kommer inte att kunna vara lönsam.

❤️ Socialt

Forskning och olika undersökningar visar entydigt att blandade team presterar bättre. Den sociala hållbarheten med avseende på inkludering, jämlikhet och jämställdhet är helt enkelt inte en rättvisefråga, utan en bra strategi och bra business. Det ökar lönsamheten. Att göra nytta i samhället är dessutom för många konsumenter och kunder en väldigt viktig faktor när det gäller att välja vilket varumärke man vill göra affärer med. Att också säkerställa att din produkt är tillgänglig för alla personer i samhället och inte exkluderar eller diskriminerar några kunder ökar också din kundbas.

💰 Ekonomiskt

Ekonomisk hållbarhet i det lilla perspektivet handlar om en rättvis affär, där båda sidor har en uppsida och en tydlig win-win. En långsiktig affär bygger på att du som leverantör levererar ett värde som din kund uppskattar och är villig att betala ett rättvist pris för. Det handlar om transparens och ömsesidig förståelse. Visst, det går säkert att tjäna en liten peng i det korta loppet på en ensidig affär, men alla som har gedigen erfarenhet av affärer skriver under på att långsiktiga och ömsesidiga affärer är nyckeln till framgång.

Vart befinner sig din organisation?

En hållbar utveckling är oerhört viktigt för vår planet och för våra samhällen i det stora perspektivet, men det är även är nyckeln till långsiktig lönsamhet i det mer konkreta perspektivet för just din specifika verksamhet.

En stor majoritet av bolagen idag lyfter dessutom fram kompetensförsörjning – att attrahera rätt medarbetare – som en av sina största utmaningar. På dagens arbetsmarknad byggs ett starkt varumärke för dig som arbetsgivare kring att din verksamhet är långsiktigt hållbar, och att din organisation är jämställd, jämlik och breddad. Dagens och morgondagens talang vill helt enkelt inte jobba hos dig annars.

Så att ditt erbjudande och din verksamhet befinner sig i överlappen mellan social, ekonomisk och ekologisk hållbarhet är helt enkelt nödvändigt för en sund och långsiktigt lönsam verksamhet. Att låta en av dessa aspekter lyckas på bekostnad av de andra kanske kan tjäna dig en hacka idag, men du kommer inte att lyckas imorgon.

En omskrivning av hållbar utveckling till hållbart lönsamma affärer blir då:

Vi har insatserna som vässar din förmåga att vara innovativ

Det är dock inte helt enkelt att knäcka denna nöt. Den som lyckas har gjort något utmanande och svårt, och därmed skapat sig en långsiktig konkurrensfördel. Vi på Science Park är helt övertygade om att innovation är lösningen. Och vi har både insatserna, kompetensen och nätverket för att vässa ditt företags förmåga att vara innovativa, om och om igen.

Hos oss får du verktygen för att kunna innovera er ur vilka utmaningar än framtiden har i åtanke. Vi kan också konkret hjälpa er att utveckla era innovationer som bidrar till ett mer hållbart samhälle. Det gör vi genom att stötta er i att verifiera, genomföra och skala era hållbara innovationer och nya hållbara affärer.

The key to successful interaction with AI

Last year, the AI service ChatGPT was launched, which took the public by storm. The underlying technology has been used by companies for a long time, but for the first time, it became understandable and useful for the general public. Since then, social media has been flooded with posts tagged “written by ChatGPT” to showcase the service’s excellence. However, the key to what it can achieve lies not only in the capacity of the technology, but in our ability to ask the right questions.

What is a prompt?

A prompt is an instruction or request that you give to the AI system to get a specific answer or result. It acts as a guidance for the AI’s response, and the quality of the answer often depends on how well your prompt is formulated.

Three things your prompt should include

To get as specific answers as possible, your prompt needs to include three important instructions:

1. Role – who should the AI act as?

Define the AI’s perspective or what expertise it should be based on.

Example: “Act as a gardener”

2. Task – what should the AI do?

Specify – as precisely as possible – what you want to know or need help with.

Example: “How do I take care of my climbing roses during winter?”

3. Format/recipient – in what way and for whom?

Specify the tone, complexity, and direction of the answer based on the target audience. You can also be specific in the number of words or ask to get the answer in, for example, the programming language Python. The model can’t count, but it gives an estimate of how long text you expect.

Example: “A person with no prior gardening experience“, “A text that is encouraging and inspiring”

A last tip along the way

You can seek assistance with questions in almost any area. Experiment to learn more about what the service can do. Even if the result isn’t 100% accurate, you may be inspired to find new perspectives or ways to express yourself. And remember – always fact-check with other sources. Not everything on the internet is true.

Entrepreneurs and companies that successfully incorporate circularity into their business are the ones building strong, resilient brands ready to meet the challenges of the future. By creating sustainable business ideas, we’re not only helping solve some of society’s biggest challenges, but also generating value and innovation that will last far into the future. Sounds good, right?

So, what do you need to consider already in the ideation phase to create the most sustainable and circular business model possible?

Here are 14 questions for a more circular business model:

Science Park helps you on the path towards an idea that makes a difference – for real

Did you find this inspiring? Then you should take advantage of our free coaching and share more about your idea with one of our business developers. We look forward to helping you delve deeper into and develop your circular business idea. Together, we take the next step towards creating something that benefits both the planet and your future profitability. 💜♻️

Why, Why, Why?

In what way does your business idea create a better everyday life for the many people on this Earth? Challenge yourself and your team by always asking why, why, why – until you have found the core and the true drive in your company. Values-driven companies can often explain why they exist. If you can explain your company’s values – why customers should buy from your company and not from competitors – then you have come a long way! And remember: it’s not about the price tag of your service or product, but the value it adds.

By always starting with “why” when communicating, you can create a deeper emotional connection between the customer and your brand.

The Golden Circle Helps Us Find the Core

According to entrepreneur and TED talk personality Simon Sinek, the key lies in what we communicate. To illustrate his idea, he has invented a simple model called “The Golden Circle.” At the core of this circle, we have “why,” surrounding it is “how,” and outermost is “what.”

Most companies communicate from the outside in. They start with “what” – the product they sell, then they explain how excellent the product is and why you should buy it. But a few companies have flipped it and start all their communication with “why”:

Your “Why” Should:

• Be simple and clear without complicated jargon or technical terms. Keep it concise and straight to the point.
• Be actionable and convertible into concrete actions and decisions. Your “why” should provide a glimpse into what you will actually do.
• Focus on how your business idea and ambitions positively impact others and the world at large.
• Reflect you. Ideally, your “why” should be summarized in a single sentence, with a tone and feeling that mirrors your brand.

This is how it might sound when we want to test our idea in an early stage. As an entrepreneur, you know you should talk to your potential customers as early as possible – to check that you’re actually building something they will want to buy. This is important when the idea is really good – to confirm the upcoming success – but especially when it turns out that the idea doesn’t quite hold up. In that case, it’s better to find out as early as possible so that you have a better chance to adjust for success. But it’s not easy to figure out what potential customers really think. Why is that?

People Prefer to Be Kind than Honest

The first common reason is that most people try to be kind to you and therefore are not completely honest about what they think. They do this because they see that you’re putting effort, time, and money into something and simply don’t want to risk hurting you by giving feedback that might be uncomfortable.

Everyone Likes Positive Feedback

The second common reason is that we ourselves feel good hearing positive feedback. Nothing strange about that. It’s natural that we want to hear that we are on the right track. Unfortunately, this has the consequence that we might fall into seeking compliments instead of finding valuable information where there is a risk that something uncomfortable might come up. The leading questions in the introduction are examples of this. But compliments and cheerful encouragement rarely improve our idea.

How to Ask Open-Ended Questions

So how do you get people to say what they really think? It naturally varies depending on what idea you want to test and how far you’ve come, but in the example below, you get some tips that can help you along the way. In the example, we assume an idea for a digital service that we believe will replace a troublesome moment/problem for the customers. First, you need to confirm that there is a need among the customers.

We Assist You In Testing Your Idea

So, what’s the ultimate way to check if someone is telling the truth when they say your idea is good? Ask them to sign up for the service or pre-order the product. Then, they will undoubtedly reveal what they really think – because everyone stops lying when you ask them for money.

If you want help figuring out what’s crucial for your idea to move forward, book a meeting with a business developer at Science Park, and we’ll assist you!

Just Go For It!

Yes, it’s really that simple. There are no secret formulas to determine how good your idea is. There are also no experts holding the magical answer. It’s the market and your potential customers who decide, and you simply have to test your way through.

By testing your idea early on, you get feedback and avoid getting stuck in the idea phase. You also don’t have to consider what could have happened if you had just dared.

It’s not uncommon to worry about potential idea theft. But you know what? If you don’t test, you won’t move forward, and then the idea will either fade away—or someone else will likely come up with the same thing eventually.

Your MVP Should:

• Have enough value initially for users to want to use or buy it.
• Demonstrate future benefits to keep early users engaged.
• Create a feedback loop to guide the team in the ongoing development.

Minimum Lovable Product

To satisfy today’s customer, it can be beneficial to use MLP instead of MVP, which stands for Minimum Lovable Product. To create an MLP, you should think in a similar way to creating an MVP, but with more thought and care. The goal of an MLP is to solve the problem while also bringing joy.

Customers Don’t Just Want to Use Your Product; They Want to Love It.

So, how do you create an MLP? In addition to what we’ve discussed earlier about building an MVP, you can add another mindset and model that we’ll talk about in another one of our short talks—namely, The Golden Circle and how you develop the ‘why’ of your company or product.

Using a Business Model Canvas not only helps you pinpoint areas for knowledge improvement but also underscores what is essential to focus on in the near future. The model enables visualizing and creatively exploring your business model.

How Does Your Business Model Respond to Changes?

Creating diverse versions of a Business Model Canvas (BMC) effortlessly enables you to demonstrate the impact of a proposed business model on different aspects of business development. Varied customer segments or revenue models may affect your costs or partnerships in distinct ways. Instead of navigating through numerous business plans or adjusting endless documents, maintain flexibility and openness to input from the external environment, customers, partners, trends, and more.

When working collaboratively, the BMC model proves to be an excellent tool for fostering a shared understanding of the work. It also provides support in mapping out various crucial areas.

Are You Interested In Exploring the BMC Model?

In our business development activities at Science Park, the BMC model stands out as one of our go-to tools. If you’d like to apply the model to your idea or business with our guidance, feel free to schedule a meeting – we’ll be in touch soon.

1. Be Prepared

Seeking capital from private investors requires careful preparation. You should have a clear understanding of what you’re seeking and what unfolds from the moment you decide to collaborate. You need to articulate your business plan and vision for the future clearly.

2. Stay Focused!

Focus on explaining the concept during the meeting – namely, the problem your company solves and for whom. An investor often wants to see a clear logic in the problem your idea addresses and how you create value for the intended customer. Therefore, you need to articulate your solution in an easily understandable way, even if it is multi-faceted and can evolve in several directions. Many investors are simply looking for ideas they can easily grasp and understand.

4. A Good Presentation Leads to More Meetings

If the initial meeting sparks the investor’s interest, they will seek more information, delve into the company, its market, and get to know the team driving the business. Securing venture capital is not a task accomplished within a week. Typically, the process takes 3-9 months from initial contact to the completion of the investment, so it’s crucial to plan ahead.

Venture Capital – a Challenging Process

It’s essential to be aware that securing external capital is a challenging process. Of the companies we encounter through our investment fund, Spectria Invest, only 5-10% successfully navigate the entire process and secure their investment. The advice for those facing rejection, whether from us or another source, is to embrace the feedback and move on to other investors. Seek individuals with a background in your industry or who invest in similar ventures and persist in presenting your idea until you succeed.

Always Start with the Customer’s Needs

Many invest a significant amount of time in the ‘Approach’ section, solely focusing on their solution and how it should look. We believe it’s crucial to begin with the ‘Need,’ meaning a clear need or problem. It’s easy to go astray with both the solution and marketing if you don’t truly understand the underlying need.

By navigating through the model, you gain a clearer understanding of the problems to be addressed, enabling you to construct a robust and clear business idea.

Summarize Your Value Proposition for a Great Pitch

If you distill the information from the four areas of the NABC model into a concrete offering, it becomes an excellent brief explanation of your business idea. This can be used when sharing what you do during a meeting or on your website.

By adding a ‘hook’ (an introduction that generates interest and reaction) before your NABC and a ‘closer’ (something that makes the listener remember) after the model, you have a perfect pitch.

Need assistance going through the model? Book a meeting with us, and we’ll go through it together!