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For generations of Americans, the soundtrack to spring weekends has been a rise in birdsong and the loud, constant virrrrrr of neighbors cutting their growing grass. But the gas lawn mowers, leaf blowers, and weed eaters that have been used for more than a century to keep lawns manicured aren’t only noisyin the past few years, researchers have discovered that they also pose an outsize risk to the environment and to human health. In response, cities across the U.S. are experimenting with incentive programs to encourage residents to opt for more environmentally friendly electric lawn equipment. The shape these programs take isn’t one size fits all: From bans to rebates to tax credits offered at a variety of price points, each program has made its own calculations about what the location can afford and what will best attract residents. But across the board, these relatively new programs are producing promising results. I think the most important thing is that its really exciting to see that so many cities and counties and states and utilities and communities across our country are taking action to tackle the really polluting, really loud, gas-powered lawn equipment, says Kirsten Schatz, clean air advocate for Colorado Public Interest Research Group (CoPIRG). Its a real mix of approaches with, I think, some mixed results. But altogether, things are moving in the right direction. Anything that runs on gasthink cars, planes, stoves, and water heatersreleases greenhouse gases that contribute to the warming of the planet. An important step in curbing emissions is to transition these machines to electric whenever and wherever possible. You might think that saving up to tackle the biggest items would make the biggest impact on reducing your carbon footprint. But physical size doesn’t always correlate to impact. Gas-powered lawn mowers and leaf blowers may be smaller than cars and used less frequently, but they produce a shocking amount of pollution because their engines are less efficient than those used in more technologically advanced products. In 2023, Environment America Research & Policy Center published a report based on 2020 data from the Environmental Protection Agency that found gas-powered lawn equipment produced the same amount of fine particulate pollution in a year as 234 million cars and more carbon dioxide than the entire city of Los Angeles. In addition to polluting the environment, the toxic by-products of running gas equipment have been linked to negative health impacts ranging from cancer and reproductive issues to mental health problems. There are many benefits to going electric: In addition to being better for the environment and human health, battery-powered equipment has the potential to save money and is quieter. But like all electrification efforts, switching requires what may at first seem like a hefty investment in new equipmentwhich is where incentives and rebates come in. As with many environmental issues, California was a leader in addressing the problem, choosing both a carrot and a stick approach. In October 2021, the governor signed into law a ban on new gas-powered equipment that took effect in January 2024. In the lead-up to the ban, the state offered generous incentives covering more than 50% of the cost of new equipment and batteries. In just two years, Assemblymember Marc Berman estimated that 90% of the $30 million allotted to these rebates had already been paid out. While several other communities have also adopted bans, including Washington D.C.; Palm Beach, Florida; and Burlington, Vermont, a larger number of programs across the country have taken an incentive-only approach. These incentives can help cost-conscious residents make the leap. We know that electric lawn equipment is increasingly popular, particularly in recent years as the prices have come down, the performance has improved, and its much more widely available, says Luke Metzger, executive director of the nonprofit Environment Texas. We know that certainly over several years, given that electricity is cheaper generally than gas, [switching] more than pays for itself. But still theres that up-front cost . . . and so those incentives can make a big difference. Efforts in Texas have been a bit of a roller coaster. In 2022, Dallas was considering banning gas-powered lawn equipment. But the next year, the Republican-led state government ruled that bans were illegal. The city is now working on launching an incentive program. In the meantime, roughly 200 miles south, Austins publicly owned utility provider, Austin Energy, has operated a seasonal rebate program since 2020. At participating retailers, customers can get a $15 discount on weed trimmers and leaf blowers and a $25 discount on lawn mowers taken off the price of purchase during certain times of the year. In the past six months, Austin Energy has offered rebates on 2,053 lawnmowers, 1,008 weed trimmers, and 578 leaf blowers. Im excited to see people participating, says Donylle Green Seals, environmental program coordinator at Austin Energy. Participation is above the forecast and has been growing steadily since 2020. Not growing astronomically, but I would say by at least a few hundred per product. In the past year and a half, Colorado has also been experimenting with various strategies. A statewide program went into effect on January 1, 2024, giving residents a 30% discount at participating retail locations. This is in addition to a variety of local and utility company-based rebates offered throughout the state. The Colorado Public Interest Network has tracked 200 initiatives across 26 states20 of them are in Colorado. Schatz says the decision to implement a statewide program was all about improving air quality. While she doesnt have data yet as to the success of the program, in her role working with retailers to offer the discounts and educating customers about them, she says, The vibe is good. Anecdotally, it feels like its been a great success. Not only has Colorado been encouraging private homeowners to make the electric leap, but it has also been tackling the problem of getting commercial landscapers to invest in a greener business model. This has been a harder segment to convert given the logistics. While a new electric battery can easily last for an entire session in the yard of an average private home, the costs and inconvenience of charging can rack up when businesses are using their equipment all day long. Though businesses can take advantage of the state rebate programs, new regulations set to take effect this summerwill also impose bans on gas-powered equipment use on public property. This means any lawn care company with state or federal land as a customer will have to switch to electric to keep its clients. This is also where efforts to educate and sway both private citizens and companies convergeas more homeowners learn about the effects of gas-powered equipment, consumer opinion begins to change. I would say about two-thirds of my customers reach out to me specifically because I am fully electric, Jordan Champalou, owner of Electric Lawn Care in the Denver suburb of Westminster, told Denver7. Electric equipment is undeniably a win for the environment, for public health, and for peaceful neighbor relations. But on the financial side, it isnt quite as simple as a onetime investment that will pay off once and for all. Incentives can get new adopters in the door, and those investments will eventually save them additional money, once the cost of buying gas for their old equipment surpasses the cost of buying new equipment and powering it with electricity. (Consumer Reports published a tool that allows readers to see when and how their new electric-equipment will start saving them money over a five-year period.) But there are still some kinks to work out. Electric batteries eventually wear out (current estimates are three to five years), and new batteries can be costly. Some users also claim that electric equipment isnt quite as powerful as gas, though not all agree and many tout the greater reliability of electric as a bonus. While incentives and bans are helping customers make the switch, achieving widespread electrification of lawn equipment may come down to something even simpler: Equipment manufacturers and retailers control the products available for consumers to buy. In June 2023, Home Depot announced a company goal that 85% of all its lawn equipment sales will be battery-powered by 2028. On a recent trip to my local Lowes in Austin, there were twice as many electric lawn mowers available as gas ones, and prices were close if not on par. Ultimately, if manufacturers and retailers make the pivot to electric, incentives and bans will no longer be necessarythough they could still encourage customers to retire their gas equipment earlier than they otherwise might have. Austin Energy reevaluates its rebate programs every year, with the goal of making sure its offering the best options to raise customers awareness about energy efficiency and electrification savings opportunities. If electric equipment is all or most of what retailers are selling, and therefore most of what customers are buying, then Green says Austin Energy may decide to discontinue its lawn equipment rebates and shift its efforts to a new product category that needs the help more. But while the choice still sits in customers hands, a growing number of incentive programs will give them the nudge they need to go electric. As Schatz of CoPIRG says, We know things are moving in the right direction, but we want to accelerate it, because it just doesnt make sense to tolerate this much harmful pollution and noise from cutting grass and blowing leaves around when we have better ways.
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E-Commerce
Warren Buffett is likely the best-known, most successful investor in the world today. The philanthropist and CEO of Berkshire Hathaway has an estimated net worth of $158 billion and is known as the Oracle of Omaha for his ability to pick long-term investments. Hes also dedicated to sharing his wisdom with everyday investors, including beginners. Here are Buffetts top three tips: Principle No. 1: Invest Only in What You Understand Buffett has famously advised, Never invest in a business you cannot understand. In a letter to Berkshire Hathaways shareholders in 1996, Buffett explained the concept of a circle of competence: Basically, these are the fields that you truly understand and are knowledgeable enough to evaluate. You don’t have to be an expert on every company, or even many, Buffett said. You only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important; knowing its boundaries, however, is vital. For example, Buffett famously stayed out of tech stocks early on because he felt he couldnt truly evaluate the investment opportunities himself. At a 2019 stockholders meeting, Buffett advised investors to try and learn as much as they can about as many businesses as possible and then figure out which ones they truly understand and have knowledge on. That, he said, would put them ahead of most other investors. If youre an investor whod like to build your own portfolio, sticking to what you know is vital. Youll be able to evaluate each business for yourself and understand the true relevance of new developments over time. Meanwhile, if youre investing in something just because someone else says its a good idea, youre entirely dependent on their judgment, which may not be as sound as they claim or believe it is. If you dont have the time or inclination to study individual businesses thoroughly enough to make these judgments for yourself, Buffett recommends investing in an S&P 500 index fund as the best option for most investors. Principle No. 2: Avoid Unnecessary Activity You dont get paid for activity, you only get paid for being right, Buffett said in 1998. Especially as a beginning investor, youll likely get the urge to react to news about the market or your individual investments immediately. Its easy to panic when an earnings announcement sends the value of your equity down 5% or more in a day. But Buffett preaches patience: If youve done your due diligence and youre investing only in stocks you have strong reason to believe will pay off in the long run, a little market noise along the way shouldnt scare you off. Inactivity strikes us as intelligent behavior,” he said in his 1996 letter. If youre sure youre investing only in strong, well-managed businesses, then you need to trade only when those qualities arent true anymore. Stocks and the market tend to grow in value over time. By trading too frequently, you may find yourself reinvesting in stocks at higher prices than you originally bought them atlosing out on gains, dividend payments, and any trading fees in the processor losing out on higher long-term profits. Principle No. 3: Make Every Investment Decision Count In a speech at the USC Marshall School of Business in 1994, Charlie Munger, cofounder of Berkshire Hathaway, said that Buffett believes most investors would be better off in the long run if he could give each one a ticket with only 20 slots . . . representing all the investments that you got to make in a lifetime. The root of this advice is the same as Buffetts other investing principles: A limit of 20 investments forces you to carefully consider every move, to be patient, and to not invest in businesses you dont understand. Youd also ensure youre confident enough about each investment that its worth missing out on another investment in the future. Think about it: If you were buying a house or a car, would you buy it sight unseen, without an inspection, or on the word of some random person online? Probably not. Your investments deserve nearly as much deliberation. Buffett said in 1996 that every investors goal should simply be to purchase stocks in businesses that they are virtually certain will be earning more money in 5, 10, or 20 years. This diligence and patience has made Buffett one of the richest men in the world and could help your portfolio as well.
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E-Commerce
As the founder of a high-growth SaaS business, Evan was the quintessential entrepreneur. Ideas and innovation were his strength, and they led to his success in attracting investors and inspiring his early hires. With the infusion of investment capital, the company entered a new stage of growth. To scale successfully, the business needed to standardize operations and develop repeatable processes to reliably deliver services to its customers. But these were not Evans strengths. With a near-constant flow of ideas and a desire to resource them, he soon earned a new nickname among his team: chief distraction officer. Eventually, investors grew tired of Evans lack of focus and replaced him with a seasoned operator who had the operational capabilities necessary to grow. The skills that make founders successful often become liabilities as a business builds. As executive coach Marshall Goldsmith says, What got you here wont get you there. Here are five leadership behaviors that break at scaleand where the fixes lie. 1. Creativity over Discipline Evan was a perfect example of someone whose creativity and passion were a perfect fit for a founder. As his business progressed to the next stage of growth, the primary skill required was the ability to build out processes, to systematize the product so that it would be delivered to clients consistently every time. But highly entrepreneurial leaders often find it draining to limit their focus to only the one or two proven products. Whats the solution for the mismatch of a founders talents to this later stage of growth? The most successful ones recognize new skills are needed, have the humility to accept their own limitations, find a great COO, and get out of that persons way. 2. High Appetite for Risk When starting out, its important to take risks, try new things, learn from your mistakes, and try again. As companies scale, though, the focus should turn to building stability and predictability. Sudden shifts in strategy and focus cause uncertainty and inconsistency, which erode the trust and confidence of customers, employees, and investors. How do leaders balance the need for continuous innovation with stability and predictability? Former Google executives Eric Schmidt and Jonathan Rosenberg offer a great framework for continuing to innovate as you scale: the 70/20/10 rule. The idea calls for allocating 70% of capital to the core business, 20% to emerging products and services, and 10% to the cutting-edge, higher-risk ideas. This framework ensures that innovation is always happeningbut not at the expense of the core business. 3. Command-and-Control Leadership Founders are notorious for having their hands in every decision, from product development and pricing to the paint color of the office. As the company scales, this level of involvement is no longer possible. Founders have to bring on new leaders to mobilize, motivate, and manage a larger number of employees. But bringing in leaders is the easy part: Moving to distributed leadership, where the company is truly led by a team instead of an individual, is harder. Distributed leadership calls for founder CEOs to step out of the day-to-day operational decisions, delegate, trust, and empower those on their team to drive results. Allowing others to share the management responsibilities pays enormous dividends. Beside the obvioushaving others to lean on for their knowledge and expertiseit also helps to ensure the stability and continuity of the business. Only by distributing leadership will CEOs be able to elevate their role to focus more on leading strategy. 4. Open-Door Communication Early-stage leaders enjoy the close proximity of their team and the ability to communicate in real time. It can be really challenging for CEOs to break the habit of communicating informally and directly with everyone at the company. To scale successfully, a CEO needs to shift to more measured and intentional communication. As Google was growing rapidly in the early 2000s, founders Larry Page and Sergey Brin faced the challenge of shifting from being player-coaches who shared an office with fellow software engineers to becoming key executives of a publicly traded company. To help themand their employeesenforce new and necessary boundaries, the two hired a key executive assistant. That new hire served as a filter for their email and a bouncer for their office, with their role empowered to moderate the flow of people in and out so the executives could be more disciplined with their time and focus. 5. Valuing Relationships over Accountability A key ingredient to building a successful company is a high-performing teamand most startups dont begin with one. Founder CEOs often describe their initial team as a family who have bonded with each other through the intense challenges of the startup experience. Sometimes, early employees are actual familysiblings, spouses, and children are often part of the act, bringing all of their relationship dynamics with them. High-performing teams, by contrast, run on accountability. Those who are not able to deliver the required results wont make it, regardless of their relationship to the founder. Adding accountability structures like job descriptions, goal-setting, and performance management helps to ensure the team is on track to execute. These processes also help to shine a light on anyone who is unable to adapt to the new demands of the larger and more complex organization. Inevitably, founders will be forced to make some difficult decisions regarding some of the early team members to make way for new talent who can drive results and take the business to the next level. Building a sustainable, stable growth engine with double-digit year-over-year growth is hard. Each new stage of growth brings new challenges that require a different set of skills. The most successful leaders are those who understand the need to adapt their behaviors to meet the next stageand what it demands.
Category:
E-Commerce
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