24 - Venture Concept No. 1

The requirements for the written description Word file does not open or work, so I found some difficulty in understanding exactly what is supposed to be included. I have done my best to fulfill this assignment without access to the requirements.

MetalliStraw was founded on the basis of environmentalism and seeking to solve the global issues of today regarding pollution. Based on research and data analysis, our team identified that one of the largest and widely unaddressed pollutants in the globe is plastic straw and its related waste. Our team realized that there was a great need around the planet for an alternative to plastic straws, to begin ending some of the problems of plastic pollution.

Deciding to manufacture a better straw was the first step in creating our current product. We did market research to see how this need for an alternative to a plastic straw was being filled. We found that many people cared about this issue of pollution but felt there was no way they could get around plastic straw use, which is in almost every restaurant and more. Some people said they chose to not use straws, but this means there need is left unfilled, and plastic straws still have no alternative that could decrease their demand. Many people also mentioned that they had made attempts to switch to cardboard straws that are recyclable and create less waste. However, generally people were dissatisfied with the quality of them and how cardboard straws tend to become saturated and useless over time. This made it clear to our team that there needed to be an alternative to plastic straws that could at least work as well as plastic straws, if not better. This is when we decided to work with metal straws, but we still wanted to differentiate.

While other metal straws have existed, few have the mission and intent on saving the environment, with data to back it up. Our decision to closely tie our mission to our product has kept the concept of environmentalism and saving the oceans on the forefront of product design and marketing. Every MetalliStraw comes with a booklet full of our research, data, and information explaining specifically how our products contributes to the decline of plastic waste and actively contributes to environmentalism.

We also noticed that while other companies had produced metal straws, none had sought to create the best, most simple product possible that could be a real alternative to plastic straws. Many companies had not considered their product post-purchase. We wanted to ensure that even after purchase, our straw continued to be utilized and appreciated, and our clients wouldn’t switch back to plastic. To prevent this post-purchase dissonance, we began to focus on the physical use of the straw and its weaknesses and advantages. Based on consumer purchasing habits, our team decided on a straw diameter that is most popular and ideal. Further we realized a reappearing theme among most reusable straws; they were simply too difficult to wash. Many customers found after a few uses, they could never return it to its original cleanliness. Our team decided to pursue materials that would be machine washable, thereby taking the cleaning process out of the consumers’ hands. Further we investigated what materials and metals would make the best straw. We identified alloys that would be more difficult for food and drink to adhere to. Now we have developed a straw that is completely dish washer safe and generally is less likely to become as dirty and uncleanable in the first place.

At MettaliStraw, our team decided that we wanted our product to be the consumer’s final solution and fulfill their need indefinitely. To achieve this, we added our lifetime warranty. Every MettaliStraw purchased comes with its own lifetime warranty, assuring that anything that could happen to the straw would be covered and replaced at no charge. Generally, we don’t expect our straws to need replacement, but we don’t want a bend or any other issue causing our clients to return to plastic straws and effectively damaging the environment. The lifetime warranty ensures customers will have loyalty with our company, and effectively help our brand, name and image grow.

 MetalliStraw is heavily reliant and appreciative of its investors. Upon our founding, we sought partnerships and relationships with people and other businesses that share our passion for the environment. Our investors are supportive of our mission and believe our company is on the forefront of solving a major environmental issue. Our capital structure is currently solely provided by equity and investment from these partners. Our team never wanted to finance around debt and values the relationships in our network more than any bank loan. We believe to go about solving global problems like pollution, it is best to develop a web of individuals passionate towards a solution rather than working on our own with loan financing.

What sets MetalliStraw apart is our mission and our people. We have never sought to develop a product to profit from. Instead we have focused on covering costs and expanding our role and mission. The employees within our company were originally attracted to us due to our message and mission, and we reaffirm this mentality through a complex corporate culture. While it may have many nuances, our culture revolves around what is best for the future health of our planet. Our employees are familiarized with our mission and how we serve to achieve it, creating a similar consensus throughout the company that is somewhat unique. Every employee is responsible for knowing their role within MetalliStraw and how they personally are contributing to cleaning our environment and decreasing our global reliance on plastic straws.