Editor’s Note: Jeff Wolfe is the co-founder and CEO of groSolar. This is the second post in a series from the CEO’s of major solar companies. The first post was by the CEO of SolarCity, Lyndon Rive. You can follow the complete series here.
groSolar operates in the downstream solar market. We are affected by all the US and global macro economic trends. I describe the current economic conditions as a Vortex. Heavy winds of the economy swirling downward, a huge updraft caused by declining raw material and finished goods prices, and sweeping cross-currents of over-supply and the failure of major banks to provide normal business services.
But within this maelstrom is a gentle wind of opportunity. Finding this breeze, like finding a thermal in a hang glider, can not only fuel a great ride, but can bring your company to new heights. This is more easily said than done!
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To operate in this recession, the first rule is that all the old rules don’t apply. It was Jeff Immelt of GE who in November said: “This is not a cycle, this is a reset.’’ I’ll go him one further. This is not a reset, where we simply reboot the economy with the same code. This is a rewrite of the code. Our social, emotional, and economic underpinnings are all going through a massive change as we come to grips with a world-wide economic recession AND the background ills that have been festering for over 20 years: healthcare, climate change, real security, peak oil, and unrepentant greed.
In solar, we are uniquely positioned to influence how these problems are solved. But, since no one has ever been in a situation like this, it means that the second rule is that we need to figure out the rules. No business school has taught a case study that gives the prescription for success. To succeed, a company needs to take actions in this uncharted environment. This means mistakes will be made. Our second rule is that if we’re not making mistakes, then we’re not going to have successes. But when we make a mistake, we examine and understand it so we can learn and execute better. Solar is a very dynamic and rapidly changing industry, at all levels. Companies are undertaking new marketing and sales strategies, and new business models.
At groSolar we are not waiting for these rules to be written by others, we are leading with new initiatives. Some of these are in line with others, some are independent. Some will succeed, some will fail.
Building a solar company in this recession demands innovation. We need to write the code for our company, while not knowing what others are writing. Our key to success is a deep management team with broad experience. We watch our expenses carefully, but we spend. We hire, but we hire with eyes focused on execution and revenue generation. We remain diversified, hedging our bets where possible with the ability for most of our staff to execute across channels. We focus on our mission, knowing it guides us well. And in all, we look toward the industry we want to build and can build, not the industry we were in six months ago.
Hang on tight; it’s going to continue to be quite a ride.
I am looking to start a solar business and I found this blog and post very helpful. I have signed up for more..!!
Changa G.
“Building a solar company in this recession demands innovation. We need to write the code for our company, while not knowing what others are writing. Our key to success is a deep management team with broad experience.”
The key to any sustainable business is to have a stellar cast of business people and also the passion to believe in the future.
It is important to have a balanced model, and not just be green on the surface. Each of the methods used by this company are key to making a small part to combat climate change.
As we teach at the University of Vermont’s Global Institute for Sustainability (http://learn.uvm.edu/igs) creating a positive, shared vision of the future is something folks can tap into, and move forward with crafting solutions in a creative, engaging way.”
what a great concept ! we dont consider ourselves ‘ecopreneurs’ but we do pride ourselves on making a product that has a far smaller carbon footprint and environmental impact than its competition – the evil ‘plastic water bottle’. Our water filter straw is environmentally friendly and we hope this trend continues to influence the travel market worldwide with travellers becoming more conscious about their impact on the places they visit!
Just great…From now on I do consider myself an ecopreneur too!
I would say that build a solar company in our country (Brazil) is a great challenge too as most people still don´t even know the difference between PV and STE…but here we are managing this all!
An article full of nothingness. What did he actually say that is of any worthwhile merit?
“Building a solar company in this recession demands innovation. “?
or maybe..
“At groSolar we are not waiting for these rules to be written by others, we are leading with new initiatives. Some of these are in line with others, some are independent. Some will succeed, some will fail.”
C’mon. Give us more than watered down rhetoric. What are some of the initatives? Where do you see solar going in the next 12 months? What are some of the specific challenges you think you will face? Name them. This recession simply means you have to look closer at your costs. But it also is a time to be risky and grab some marketshare. Stop beating around the bush. I’d be hesitant to invest in a company of wafflers like this one if I were a VC.
I love this blog cool looking design as well. I have subscribed to it.