Oil is a precious commodity across the globe, but despite this there is still a significant proportion of the valuable substance that goes to waste in industrial processes. This is what could make a business such as StayGreen Oil an essential component in the oil trade as they seek to reuse the oil that would normally end up in the bin.
Through their marketplace they encourage businesses who regularly use oil to sign up as members and trade their unwanted leftovers with other members who are seeking oil. The founders of the company, Brian Davis and Michael Griffiths, work in the fuel industry and were constantly being asked by companies where they could source reasonably priced oil. As a result of this clear demand they decided to set up StayGreen Oil to operate as a platform for those seeking and those wanting to sell oil. The concept is an environmentally sound one, and fills a gap in the oil trade. We caught up with Brian to see how their ambitious startup was coming along.
1. Where did the idea for StayGreen Oil come from?
Michael Griffith, our co-founder, and I both work for a fuel and lubricant distributor. We were constantly being approached by used oil collectors asking for access to our client base. At the same time we we being asked by our customers if we could assist them in getting a better price for their used lubricants. After making several connections we realized that both the generators and the collectors could benefit from a single platform for reporting, contracts, and communications.
2. Can you describe a typical working day?
As with any start-up we all wear many hats. At this stage in our development our primary focus is on marketing and introducing StayGreen Oil to potential users. Thankfully, we have a great support team and some very experienced business advisors.
3. How do you unwind or relax when you’re not working on StayGreen Oil?
The team at StayGreen Oil are no strangers to hard work but finding the right balance between work and home is the key. On the work side keeping up with industry trends and connections is critical to our growth. Away from the office both co-founders take time to coach their children’s youth athletic teams. Michael enjoys spending time on the lake and Brian enjoys running.
4. What’s the secret ingredient to success as an entrepreneur?
Never settling for the status quo and always being on the lookout for solutions to everyday challenges. But remember – if you are not first, best, or different you might have some initial success but it won’t be a sustainable, scalable business in the long run.
5. What drove you crazy when building your business?
Disruptive business introduces a product or service that the current market might not initially accept, so you have to keep pushing your concept even when some members of your industry may seem like they are against you.
6. What motivates you to keep going?
Knowing that we are just scratching the surface when it comes to re-refined oil and used cooking oil. The scaleability of our concept will change sustainability on a global scale. It’s exciting to be on the forefront of such a meaningful endeavor.
7. If you were to start again, what would you do differently?
Not a thing! Obviously we would want to move faster and have broader reach but our entire team has done a tremendous job and we are very eager to capitalize on our momentum.
8. Where do you see your business in five years, and how will you get there?
Our business plan has aggressive growth goals including an international expansion and entrance into similar service markets that fit our business model and mission.
9. If you weren’t working on StayGreen Oil, what would you be doing?
Probably thinking about how to solve some of the same challenges our business is facing now. We need to find better, more efficient energy solutions that do not harm the environment.
10. Tell Springwise a secret…
StayGreen Oil will be expanding soon…. That’s all we can disclose right now.
11. Any final words for aspiring entrepreneurs?
When you come up with a great idea – move on it and don’t be afraid to fail. Have passion in what you do and develop a go-to market strategy that assumes some level of risk. If you sit around and wait, you will miss the boat.