A green entrepreneur

Decoding a poem: An algorithm for entrepreneurs

When I first saw Robert Frost's famous poem "Stopping by the Woods on a Snowy Evening" in my
seventh grade English textbook, I had no idea that I was looking at a poem which inspired one of the
leading lights of India's freedom struggle and also Independent India's first Prime Minister. Pandit
Jawaharlal Nehru was so besotted with this poem that he kept a copy of it on his bedside table;
perhaps to constantly remind him of the duties he had to perform before his death.
On a closer scrutiny, we find that a strong under-current of entrepreneurship runs through this poem.
This poem perfectly answers the question in relevance "Entrepreneurship between environmental
risks and opportunities: What does it take to succeed?" through its four enchanting paragraphs, with
each paragraph metaphorically describing what it takes to strike it big for an entrepreneur.
Through the summits at Kyoto, Bali and Copenhagen, world leaders have managed to hoodwink the
public into showing that they are serious about solving environmental hazards that come with
unsustainable development. This prompts an examination as to why time and again these efforts
have come to a blank. The one obvious answer to this question is that it is simply not economically
prudent to go green, at least in the short run. It is in this context that an entrepreneur, with his
mutually beneficial vision and practical skills, comes into the picture. Environmental risks are
different from business risks in that the lure of profit alone is not the attraction but a certain amount
of social responsibility is also factored in. But how exactly does an entrepreneur go about converting
environmental risks into opportunities? And how does Robert Frost's poem act as a guiding light in
this endeavor?


The four most important principles of successful entrepreneurship are woven into the four
paragraphs of the poem masterfully:
1. Assess the situation
2. Find opportunities, and don't lose hope even in the bleakest of scenarios
3. Observe even the smallest of signals, interpret it and forever remain alert
4. Finally, ACT, and be perennially innovative
First paragraph: A metaphor for Assessment and a case for taking risks
Whose woods these are I think I know.
His house is in the village, though;
He will not see me stopping here
To watch his woods fill up with snow.
Just like the poet knows exactly where he is, an entrepreneur should know exactly where he stands
with respect to his competitors. He should admire the work done by his competitors, but at the same
time draw lessons from their success. His first instincts should be to be different from the established
players or better, propose a wholly new idea itself. In a developed country, the assessment should
focus on environmental risk mitigation methods while in developing and under-developed markets,
focus should be on reducing the rate of growth of environmental risks.
The difference in the environmental awareness among the public in the developed and developing
markets should always be kept in mind while formulating policies. For instance, a program involving
separation of wet and dry waste in the house-holds itself might work in developed countries but
might be a non-starter in developing/under-developed countries.
Risks and opportunities should be assessed with two different mindsets. Finding a risk in an
opportunity is easy but finding an opportunity in a risk is what a good entrepreneur does. This fact
makes the case for scrutinizing risks more closely because behind every risk there is a huge
untapped opportunity. Shi Zhengrong, the Chinese scientist, who made his billions by harnessing
solar energy through his company Suntech Power 1 and Tulsi Tanti, who made his fortune by
milking the huge untapped wind power in the world through his company Suzlon Energy 2, are
people who saw opportunities in risks. Opportunities may or may not be unchartered territories, but
risks always are. In the poem, the poet is willing to take the risk of trespassing through the woods,
but he is rewarded with the beautiful sight of watching the woods fill up with snow.
Second paragraph: A metaphor for Hope
My little horse must think it queer
To stop without a farmhouse near
Between the woods and frozen lake
The darkest evening of the year.
Even in the most disheartening of circumstances, an entrepreneur should be guided by the clear
light of reason and logic. Just as the poet enjoys the ambience of the woods even though it is the
darkest evening of the year, an entrepreneur should look for opportunities even if the field is fraught
with risks. Where a lay man perceives risks, an entrepreneur should perceive an opportunity.
An oil spill can be an environmental disaster but an entrepreneur should start a company that cleans
up the oil spill, at least to some extent. Carbon emissions are ticking environmental time-bombs, but
an entrepreneur should start a consulting company based in Europe, that advises companies to
reduce emissions in exchange for carbon credits. Most of the paper used in developing countries is
thrown away but an entrepreneur should start a deinking plant which can retrieve the fiber of the
used paper. Most of the world may jeer at power production using coal due to its high emissions, but
an entrepreneur must invest in a company engaged in making the process more eco-friendly by
researching on combined cycles, fluidized beds etc. because in the long run, coal can never be
completely phased out citing emissions.
The WTO Doha Round deadlock can be overcome if developing countries soften their hostile stand
on high agricultural subsidies in industrialized countries in exchange for more action on the global
warming front, as I argued in my 2007 essay for St.Gallen Symposium. An entrepreneur can use his
lobbying skills to good use in such a scenario. Thus years of deadlock can take a new direction for
the greater good if given a small yet pragmatic twist.
Third paragraph: A metaphor for keen observation and interpretation
He gives his harness bells a shake
To ask if there is some mistake.
The only other sound's the sweep
Of easy wind and downy flake.
An eye for detail is an indispensable quality required for an entrepreneur. In the poem, the poet
listens attentively to his horse and understands exactly what his little horse wants. At the same time,
he also remains alert to the other sound made by the wind and the snow. Similar traits should be
shown by an entrepreneur. He should listen to every small signal emanating from the market and
interpret it correctly. Having done so, no room for complacency should be allowed. He should still be
alert for more signals rather than rest on his laurels.

A good entrepreneur should never be caught off-guard when government policies are announced or
market preferences undergo a shift. He should study the market closely enough to foresee most of
the changes. By the time the change finally happens, necessary groundwork to roll out the response
to the change should have been already done.
While the Indo-US Nuclear Deal (which promised uninterrupted uranium supply to non-NPT
signatory India for clean energy production) was being discussed, corporate entrepreneurs from
India were already scouting for established companies like Areva, Toshiba etc to form joint ventures.
At the same time, they were also alert to the fact that similar deals would soon be signed with
Russia, France etc. as it was the next logical step in permanently securing fuel supplies. An avid
entrepreneur could have utilized this opportunity to negotiate with re-insurers like Munich Re,
Berkshire Hathaway etc. for insuring the insurance companies entrusted with insuring the various
nuclear plants that would be mushrooming soon in India. Joint ventures with French, US or Russian
re-insurers would have been a pragmatic option since they are already equipped with the know-how
of nuclear plant insurance.
Fourth paragraph: An ode to the undying human entrepreneurial spirit
The woods are lovely, dark, and deep,
But I have promises to keep,
And miles to go before I sleep,
And miles to go before I sleep.
The unrelenting human drive to keep achieving more in life is a reflection of an entrepreneur's
constantly innovative spirit. No entrepreneur can afford to be satisfied even for a moment.
Satisfaction elbows out innovation. The moment innovation stops it is the beginning of the end.
There should always be that "something" that keeps you above the rest of the pack.
Today, even most US citizens prefer Toyota cars to GM cars because the former is seen as more
fuel efficient, thereby helping consumers to leave behind lesser carbon footprint. Entrepreneurs
within Toyota realized long ago that the future of cars depended on how "green" it was. This very
realization, which was a natural outcome of their restlessness for being the number two, has helped
it to become the world's top automaker3. Apple didn't invent the mp3 player, smart phone or laptops.
However, its iPod, iPhone and Mac are cult classics.
Leaders in wind energy conversion should innovate to harness wind coming from all directions
(thereby fine-tuning vertical axis wind turbines). Leaders in solar energy conversion should look
beyond capturing not just the rays falling perpendicular to the solar panel. Developers of electric
engines should explore the possibility of more efficient arrangement of magnets like the Halbach
arrangement. Thus, the possibilities for a green entrepreneur are endless. All it requires is an
unending passion to improve the environment we live in.
Concluding Remarks
Exiting an existing venture to start a new one is commonplace in entrepreneurship. Entrepreneurs
can take a cue from central banks throughout the world in this aspect. During times of slowdown, all
of them went into a loose interest rate policy. But now that economies are looking up, the trick lies in
how to exit that policy without putting the brakes on recovery. Similarly, an entrepreneur has to know
how to change strategies in accordance with changing economic situations and how to exit when the
venture becomes no longer commercially viable.
Entrepreneurs jumping on to the green bandwagon have to keep in mind three pertinent ground
realities:
a. Going green is not a choice but a necessity. Products/services have to be tailored to factor in
this inevitability. Eventually, most companies have to go green. The advantage of being a
pioneer can keep you ahead in such a scenario.
b. In environmental issues, the potential of a risk to be converted into an opportunity is far
greater since environmental awareness is a relatively new phenomenon. Most of the risks we
see today were opportunities not long ago. So most of the risks are new and virgin territories.
c. Environmental entrepreneurship is different in that every little reduction in risk opens up
hitherto unseen vistas of opportunity as against total elimination of risk.
Robert Frost through his immortal lines depicted a duty-conscious man who kept pursuing his
journey, not allowing himself the pleasure of succumbing to his temptations. The essence of the
poem should not be lost on budding entrepreneurs. It is equally important along with conceiving a
new idea that an entrepreneur develops that idea effectively, markets it, mobilizes adequate
resources, make the consumers know of the short-term benefits along with the long-term ones and
as already mentioned, exit when the time is ripe enough. To be adept in each of these, unwavering
commitment is called for.
But at the heart of every minute action that an environmental entrepreneur would take, there must be
just one sole mantra: unflinching love for the environment. If he feels that there are miles to go
before he can actually keep all the promises he owes to his environment, there is absolutely nothing
like it to achieve the pinnacle of success. Aspire. Be. Inspire.