Written by: Wayne Elsey, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
With the younger generations prioritizing their environmental footprint, rightly, going green is essential. As we’ve seen with global weather, we have serious climate-related challenges. That’s why every business leader should ask, how your business can be sustainable? The reality is sustainability has grown from a niche interest to an area with serious staying power. It's an existential threat to the planet, so companies need to pay attention to it.
People are more aware of how their choices impact the world around them and demanding businesses respond accordingly. While some companies may worry about how going green will affect their bottom line, it doesn't have to be that way. In fact, consumers may be turned off by your company if they don’t see you following sustainable business practices.
Business sustainability isn't just good for the environment—it’s also good for your company. Studies show companies that practice sustainability sees improved profits and employee retention. So, if you want to create a successful business that positively impacts the world around you (that's right, it doesn't have to be mutually exclusive), here are five ways for how your business can be sustainable.
1. Build a Culture of Sustainability from the Bottom Up
When a company decides to go green, it's easy to focus on the significant changes. However, it all starts with your high-performing team, who is the face of your business to your customers. Whether you're a tech startup or a brick-and-mortar retail store, your team interacts with customers on a daily. Their choices can significantly impact your company's sustainability efforts, so you should ensure they're on board with your sustainability goals.
Many sustainability advocates are underemployed because many companies aren't prioritizing sustainability. The best way to do that is to build sustainability into your hiring practices. Hire employees passionate about sustainability or at least want to learn more about it. You might even want to hire people actively involved in the sustainability movement. Doing so helps you cultivate a culture where sustainability is second nature.
2. Go Digital by Investing in Technology
Whether manufacturing a physical product or providing a service, you probably have some more resource-intensive elements than others. For example, your product is manufactured, shipped, and stocked if you're in the clothing or food industry. You may use extensive fuel in the transportation or logistics sector. You can offset that impact by investing in technology.
For example, if you're creating a product requiring logistics processes, you can reduce your impact by investing in new technologies that replace shipping, like 3D printing. If you're designing a service, you can offset the impact of fuel use by investing in virtual services like webinars. Additionally, since the pandemic, many companies have worked remotely, thus reducing their carbon footprint with travel and office space.
3. Commit to Renewable Energy
Suppose your business relies on a lot of energy, and you can't or don’t want to switch to a 100% virtual model. In that case, you also have the opportunity to offset your environmental impact by committing to renewable energy. Many electricity providers offer some form of green energy but check the fine print to confirm it’s as green as it claims.
Not all green energy is created equal, so you must be mindful of what you're committing to do. The reality is that many energy companies understand that sustainability is an emerging market. If you're unsure which renewable energy option is best for your business, plenty of online tools and apps can help you find the perfect solution.
4. Continuously Improve Your Product and Process
You may already have a sustainable business model. For example, perhaps you have a service company that operates remotely. Or maybe your company partners with sustainable vendors in logistics. You can implement process improvement techniques to ensure your service remains high quality while using less energy.
Meaning if you're not continuously improving your product or process, you're missing out on an opportunity to go greener. If you're unsure where to start, plenty of resources are available to help you get up to speed. Again, even service companies can improve their green footprint simply by changing processes within their businesses.
5. Incorporate Eco-Friendly Materials
I’ve been in the shoe business since I was a high-school student. For many years, I heard that the costs were prohibitive and impossible. But, companies are switching to eco-friendly materials, even in the shoe business. Most materials have an environmental impact, and some have significantly more than others.
Innovation is already happening in sustainable materials. Ideally, you want to find materials with as little impact as possible. If you can't find what you need, create it by inventing it. That way, you can improve the sustainability of your product while maintaining the same level of quality. If you're unsure where to start, look around and see what others do.
By Practicing Sustainability, You'll Build a More Successful Business
If you're worried about going green impacting your bottom line, rest assured that it doesn't have to be that way. Sustainability isn't about giving up quality or profits for the environment. The question of how your business can be sustainable is about improving going green and profits. The five tips can make your small business sustainable without sacrificing business quality.
© 2022 Wayne Elsey. All Rights Reserved.
Wayne Elsey, Executive Contributor Brainz Magazine
Wayne Elsey is the founder and CEO of Elsey Enterprises. Among his independent brands, he is also the founder and CEO of Funds2Orgs. This social enterprise helps nonprofits, schools, churches, civic groups, individuals, and others raise funds while helping to support micro-enterprise (small business) opportunities in developing nations and the environment.
