Business name, location: ethicalDeal, Vancouver

In business: 6 months 

Number of employees: 6

What do you do?

ethicalDeal helps people discover the best GREEN stuff to do, see and buy in their city, at exclusive discounts, through the power of group buying. Every deal requires a minimum number of buyers to activate it, which guarantees the business customers, and gives consumers a "group discount." 

What was your motivation?

To make green mainstream by making it easy and fun for people to try out the best green stuff their city has to offer. There’s an alternative for almost everything nowadays, but old habits die hard. At 50-90% off anyone can afford to try something new like a green cleaning product, a vegan restaurant, healthy fast food, bamboo clothing, organic body care, fair trade coffee, a car sharing program or an eco dry cleaner.

What was your biggest challenge and how did you solve it?

Recruiting a quality team with limited capital. I applied for government grants and entered business competitions to get funding and demonstrate credibility so that I could attract good talent at a very early stage of business. At the end of the day your team is more important than your idea.

What's the best decision you ever made?

Changing my business model from subscription based to performance based.

How has the Internet changed the way you do business?

Well first, I’m an internet based business. So that says something.

The Internet has made my advertising much more targeted, measurable and efficient. I market ethicalDeal through facebook pages and ads, the google ad network, twitter and referral programs. At any time I know how many people I’ve reached with my ad (total and unique); my conversions (how many buyers did my ad create); and my return on investment.

I can also offer the same stats to businesses that advertise on ethicalDeal, making an online coupon promotion a much more efficient and effective advertizing choice than a traditional coupon book. The growing popularity of social networks has brought the concept of group buying to a whole new level as people are motivated to share the deal with their friends on facebook and twitter; generating even more buzz for our advertizers. In summary, online group coupon promotions easily surpass their offline counterparts.

What's your best source for new business?   

In terms of gaining new subscribers, I get the best ROI through facebook advertising.

What is one thing you need right now?

Capital to grow ethicalDeal. Our vision is to advance the green movement on a city-by-city basis across North America.