Seabin started off as a cleanup technology in 2016, and it quickly evolved into much more than that. In 2020, Seabin executed a major pivot and stopped selling Seabin’s, and instead sold impact data to corporate clients that wanted to add sustainability to their business models or add cleanup to their end of year or ESG reporting 😉
So why would a corporate or a business want to support cleaning up our oceans though? Well, the consumer market is changing rapidly, with a better-informed and possibly more responsible consumer looking to add purpose to their purchase.
But what does that mean? In short it means that if you want an edge over your business competition, it pays to support the planting of trees, protecting koalas or supporting the cleanup of our oceans.
Because if you had the choice between two similar products with similar price points, but one helped save the oceans and the other only create profit for the company, most people these days would choose the product that saves the oceans.
Seabin are now operational in Sydney, Australia, and LA, USA.
Contact us to see how you can add impact and purpose to your business today.
These five points are driving the ongoing success of Seabin
1. Futurism, Technology and Iteration:
We look ahead, behind, left, right, up and down to study and predict future developments and trends in technology and society. We then use these insights and developments to shape a better business and impact scaling model to create a better future for the next generations.
As a disruptive startup creating a new market, we are nimble, fail fast, sprint and iterate as needed. If something didn’t work, we have the ability to pivot overnight.
We understand our strengths and weaknesses and then fill the gaps where needed.
2. Business, Community and Empathetic Leadership:
Prioritization is given to understanding and responding to all of our stakeholders’ needs and feelings, creating positive relationships and fostering a sense of understanding and connection. It leads to positive outcomes for Seabin, our employees, customers, shareholders, and the community.
Fair and well-managed flexibility in the workplace leads to happiness and a positive work culture, because our greatest asset is our team.
Happiness leads to productivity, financial growth, employee retention, brand building, and brand loyalty.
So if you don’t care about happy workers, care about the economics… it’s a win-win for everyone either way.
3. Profit, Scaling and Partnerships:
People – Planet – Profit.
Our for-profit model drives economic growth, social and environmental impact. Using our world-first data and scaling model creates, measures, educates, reports on and amplifies the impact of our initiatives. We dream big, crunch the numbers, calculate the risk, profit and impact, and then either deploy, don’t deploy or save it for later.
Our partnerships model creates social licensing, which decision-makers cannot ignore and helps change the business world by adding purpose to an entity that traditionally may not have had the means to do so previously.
Our partnerships model also creates the “proof-of-concept” critical in obtaining the financial support of local, state and federal governments.
4. Communication, Brand and Identity:
The best idea in the world is worthless if nobody knows about it. So we tell an impressive visual story and back it up with a strong product, model and values.
Our brand and identity communicates our values and mission to our stakeholders, including customers, employees, and investors, to build trust and credibility, which is critical for organizations making a positive impact in the world.
It also attracts and retains talent, as it helps our employees understand what Seabin stands for and how they contribute to the mission.
5. Education, Awareness and Environmental Sustainability:
Protecting the natural world by taking immediate action, educating and promoting better and more sustainable practices to ensure a prosperous economy and a healthy planet that sustains us and future generations.
We didn’t set out with a game plan other than putting a trash can in the water; we didn’t know the above points until we sat down and reviewed what we do and why we do it (just now).
The above five points result from a combination of naivety, intelligence (academic and or natural), positivity, a can-do attitude, sprinting, iterating (whilst sprinting), eternal optimism, working as a team and vulnerability (yet being firm, fair, direct and polite).
Most of all, these five points are the outcome of simply trying to be good humans and doing good for the planet whilst trying to build and financially support a happy, sustainable and non-excessive life for ourselves and our families.
Our CEO and Co-Founder, Pete is 44 with two little boys, is still renting and driving a secondhand car. Seabin cannot pay competitive salaries right now, and this is because everything we have is put back into the company. It’s not sustainable or long-term, but that’s what we need to do right now as we scale.
We blatantly copied (and still copy) what Patagonia does and use them for ongoing inspiration. Go read the book “Let my people go surfing” – it’s not just about surfing 😉
In 2020, Seabin stopped selling hardware and pivoted to a new business model which focused on annual recurring revenue and exponential scaling.
Seabin has successfully raised more than $4 million over the last two years, with a 2021 valuation of $21 million.
Having an idea, a dream or talking about something is great, but taking that first step is critical. If it’s worth it, but you can’t take the first step – best find someone who can.