Success Story: How Jasmine Built a Software Platform to Solve World Hunger

What Can I Learn From Goodr About Setting Up a B-Corp Small Business?

Key Highlights

• If you’re unsure whether you want to start a nonprofit or for-profit business, consider how much time and effort you want to spend just getting donations and building up the business; for-profits are a better option for individuals who want to start making an impact immediately.
• Once you’ve decided to start a public benefit corporation, you’ll need to approach investors in order to raise venture capital funding.
• You have to figure out a profitable revenue model. For instance, Goodr has a volume-based fee for service; they charge customers based on service frequency and waste volume, along with a subscription fee for their technology.
• Keep in mind that if there’s a technological component to your small business, you’ll need additional capital not only to build the initial platform, but also to pay the developers who will be maintaining it.

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