 Welcome to a new press plastic video So in today's videos, we're gonna talk about business and this is actually something we never really covered before People always had to figure it out themselves. Like how can you make money out of recycling plastic? Whereas it actually quite a crucial element for us that we like it if people make Business out of recycling the plastic because then they can actually continue to do it on a daily basis and sustain themselves in the future So we had to develop a few tools to help people to actually get there but We just not very good at business or me So that's why we have Joseph our business guy coming in to help us out Thanks, Dave. Hey So Joseph is gonna show you in three videos very clearly on how to start from nothing to having a business So I would say have fun in his videos Okay, so we can't give you the perfect business plan or the secret formula for being successful with your business Because a lot of that depends on your ability as an entrepreneur your motivation your local situation But what we can do is give you the tools and resources to empower you to be successful Based on our knowledge working with different precious plastic workspaces around the world But do please make a plan This is gonna help you clarify things for yourself as well as communicate your ideas to other people So we've created three tools the action plan, which is like a quick and dirty business plan for you to plan your business model The workspace calculator, which is a financial forecasting tool for you to understand the financial viability of your workspace and The business plan template, which is where you kind of roll everything together and create a more long-form Business plan so the action plan is really about boiling down your idea and business down to the most important Components so you can see how everything is interacting together Because many people when they get started with precious plastic they want to do too many things at once They want to build all the machines. They want to open up their space for the community They want to make everything mobile or design a bunch of products and while those things can be good The most successful businesses are the ones that really focus on what they want to deliver to their customers So the action plan is a tool that you actually print out and write on It's even something that you could hang up on your workspace wall to keep you focused on your goals over time And remember that it's not really a tool about how to plan how to get started But it's how your business will actually work once it's up and running you can find this tool in our download kit and for now Let's get into it Okay, so you're concerned about the plastic waste problem and maybe you've heard about precious plastic And you'd like to start building a plastic recycling business in your area But hopefully it's not just you but a small group of dedicated people with a diversity of skill sets willing to start the project together The first step to planning your new operation is to write out all the components of your business model using the precious plastic action plan The first step here is to think about your mission or why you are wanting to start this business Try to be clear and concise here Maybe it's that you want to educate tourists about the impact of plastic waste on your community through beautifully crafted products Or maybe your mission is to build custom precious plastic machines to build up the recycling infrastructure in your city Okay, now that we know our mission you can move to the right section of the action plan Which is where we will define the sections of how you'll interact with your customers First think about what products and services you want to offer. Are you focused on workshops building machines? Collecting and shredding plastic or products. What kind of products? Now think about your target groups Or the groups of people you're aiming to sell your products to your future customers and the people using your products and services Who are they and how can you group them? Next think about how you're planning to engage these groups Engagement is all about how to make your target groups aware of your products and services This could be through a website social media group canvassing at your weekly market or some other way Your sales channels are the ways in which you will sell your products to your target groups These could be physical channels like a shop or a festival or a digital one like the precious plastic bazaar Now that we figured out the customer-facing side of the business We should now think more about the most important ins and outs of actually running the business on the left side of the action plan We start with our key resources or the tools machines people or other things that are a must-have for you to successfully Deliver on your mission. Maybe that's a certain machine a space to run your workspace or specific people that you need Okay, we have our resources now think about your key activities or actions There's probably a lot of things that you could think about that are important But try to boil it down to the few that you must absolutely do right to succeed If you're producing a product a fish in production would be a good one Finishing your products can also be what makes them stand out to your customers Because your machine is the backbone of your business machine maintenance might be crucial as well It all depends on the type of workspace that you're planning Your running costs are the top three to five costs that you expect to face once your business is up and going These are the costs that you will see every month because they come from the core ongoing operation of your business often in precious plastic businesses This is the rent of your space if you have to pay for it electricity and paying your employees The last section on the left side is our collaborators because successful businesses are not made alone These are the key people businesses and other organizations outside of your workspace that will be crucial to your success Lots of precious plastic businesses get help from a fab lab or a business incubator to help them get started But there could be other key suppliers community leaders or government agencies that could be critical to your success That could be because of the financial support they offer you or simply being a champion for your business and spreading the word Now let's move to the impact section of the action plan The community section is for you to think about how your business will impact your community You can think about this locally So maybe because of the jobs that it will create in your village or the education that it will provide people about the plastic waste problem You can also think about it in terms of what you will bring to the precious plastic community Such as open sourcing the molds that you design so that others can also produce your products Next up the planet I'm guessing because you're interested in starting a precious plastic business that you also care about the planet Here's where you write down exactly how you're doing it Is it because you're cleaning up your town or keeping plastic waste from entering the ocean? This is your chance to connect your business to its environmental impact The last section is your income streams Or all the ways that you plan on bringing in income to your business This isn't your startup or investment money But all the ways that you'll be bringing in revenue month after month once you're up and running Is it product sales hourly machine maintenance fees or workshop ticket sales? Try to narrow it down here to the sources of revenue that you think are most realistic You can always add additional sources of revenue as you develop Congratulations. We're now done planning your business model Now let's move on to the numbers behind starting a financially successful precious plastic business Yes, so this is where it's going to get interesting talking about the numbers to make sure you can sustain yourself in the long run Um, and I would say if you have any questions so far make sure to visit our online community where you can get an answer Joseph might be there as well to answer them And for now, thanks for watching and see you in the next precious plastic video Oh and before you go we just wanted to let you know that precious plastic runs on the support and funds of people just like you Everything we do and develop is shared online open source for free So that people can continue to tackle the waste problem in their locations around the world If you're able and willing to support us, please visit support dot precious plastic dot com Where you can donate some money or find another way you can help us Thank you. Goodbye