Running a business is naturally all about making money.
That said, no matter how much revenue you can generate, if you keep losing a ton of money on the poor organization and dodgy spending, you can't hope to have any sort of long-term success.
The thing is while selling your products and services will get you the money needed to propel your business to the next level, what you need is a sort of discipline to continue accomplishing your goals and expanding your business.
This is where sustainability comes in.
On the contrary to what many people think, setting up a sustainability-oriented company mindset, so to speak, is not just about using paper bags instead of plastic ones and ditching those small plastic spoons from the coffee-making machine.
It's also about saving money, clever re-investment, and cutting you loses and expenses to the greatest extent possible.
In this article, we're going to talk about how a business can set up a sustainability-based model of functioning so that you can maximize your growth and prevent unnecessary losses.
Here’s the deal.
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Set Realistic Goals
If you only perceive sustainability as a chore and a burden on your company that you have to shoulder to get the environmentalists off your back, chances are – you’re going to have a rough rid of it.
The thing about sustainability is that it does come with certain obligations, but also a lot of opportunities that are often unjustly overlooked by business owners.
For example, many governments nowadays make special deals with companies embracing a greener approach to their way of conducting business. If you are a startup, perhaps you can look for some grant money if you immediately proclaim your company’s growth path to be a green and environmentally-friendly one.
Whichever way you decide to approach this, of course, the important thing is that your sustainability goals should be realistic.
It doesn’t make sense to make bold statements about making polar bear sanctuaries in the Arctic circle if your projections for the future period cannot support it. Just because an idea or an incentive sounds good, it doesn’t mean it will be possible to pull off.
So, stick to what you can accomplish for the perceivable future, and try to help your business grow first, so you can do even more in the department of sustainability down the road.
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Consolidate the Leadership
This mostly goes for larger companies with boards of directors and with multiple departments.
Once you’ve set your sustainability goals and made sure they are reasonably realistic, what you will also have to do is instruct each of your company leaders on what they need to do to make the sustainability goal you’ve set before you come true.
All the representatives of a company and especially its leadership need to be aware of the general sustainability policy of the business they work for itself, so they can promote and enact it as projected.
The reason why the subtitle of this section advises you to consolidate ‘the leadership’ more than any other role in your company is because once the folks in higher positions understand what you’re trying to accomplish, getting everyone else on the same page will be a breeze.
What you also can do is hire an environmental consultant and then develop your sustainability strategy with their help. It's always useful to have onboard someone in the know
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Mind the Customers’ Needs
While caring about the polar bear is a lofty and noble mindset for a company to adopt, at the end of the day – if you’re not making money, you’re not going to go far with your sustainability goals, either.
This is why it’s important to merge your sustainability efforts with your actual products and services. If your customers see that they can be a part of the impact you’re making on the environment, they are going to be much more willing to continue buying your products and support you.
For example, some brands of vacuum cleaner offer new models of their vacuums against pet hairs, where 10% of the proceeds they get for the products goes to animal shelters.
This way, the customer can be a part of the environmental incentive the company pushes for, while not having to pay more for the products than they are used to.
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Collaborate with NGO’s and Other Companies
In case you have no idea where to start with your sustainability development, you can always get in touch with other companies or an NGO and perhaps build some sort of joint venture in this respect.
NGO’s, in particular, could be a great candidate from which you can seek help this way, as they can offer you their knowledge in the field, and you can sponsor them in return.
All in all, incorporating a sustainable development strategy into your business model can be a bit challenging at first, but once you realize the potential for growth in it, you will certainly feel more at ease about going down this route with your company.
