How to start a weather business
The ringing of the NYSE bell has marked the debut of many newly listed companies. If you’re planning to launch your own a weather-related technology innovation, then what are the ingredients of a successful business, and how can you get the funding to launch it in the first place?
When it comes to funding, there are various formal and informal networks that bring would-be entrepreneurs face to face with financiers, be they investors, lenders, grant organisations or, bang up to date, crowd-funders.
Perhaps more fundementally though, how can you be sure that there’s actually a demand or requirement for what your business will be offering?
One problem you may well face is that few financiers know the first thing about the weather, or how weather technologies and data services can assist weather affected businesses.
You’ll have to explain this to them and a critical ingredient will be your business plan. This will require a clear marketing plan and realistic sales and revenue projections. Very importantly, it must display a clear understanding of who your customers are and why they want what you’re offering.
In this episode of Business of Weather, we talk to serial weather entrepreneur, Dr. Jan Dutton, about his own experiences of setting up a business and getting funding
Jan is the CEO of Prescient Weather Ltd. and ClimBiz Ltd. His career spans positions at Weather Ventures, Earth Networks, Storm Exchange, Schneider Electric, and DTN.
His career objective he says, is to enable business decision making based on weather and climate information.