Building a sustainable business in the current climate is going to be a struggle, but one worth committing to. There are so many things you can be doing to build your sustainable business, even when you’re staying at home, it’s critical for companies to practice environmental stewardship. Consumers want products made from sustainable materials, and employees want to work for ethical companies. Even investors are jumping on board, filling their portfolios with companies that follow environmental, social, and governance principles.
6 Ways to Building a Sustainable Business
Follow this guide to learn how to become a more sustainable business.
1. Invest In Tech
Whether you’re temporarily working from home or running your business single-handedly, technology inevitably plays a huge role in your day-to-day working life. Technology allows you to communicate with clients, manage your productivity and keep your customer’s data safe. You need to make sure your technology is up to date, and that you invest in reliable equipment from cameras, and software to laptops. Upgrading any slow software with oracle forms migration will really help you to stay productive and on top of your game. If you outsource work to freelancers you can track how they’re spending their time, Asana and Slack are some of the most powerful tools in use today; they’re guaranteed to make your operation super efficient.
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2. Give Back
Charitable giving can be a crucial part of your sustainability strategy. For example, when your company donates unused items to the community, you prevent them from entering a landfill. Monetary charitable donations or team volunteering opportunities can also be part of your sustainability mission. Your company might work with nonprofit organizations that support environmental conservation. It could even be part of your business model. For example, many companies donate a percentage of their proceeds for specific products to a nonprofit listed on the product label.
3. Retain Your Core Beliefs
When you are running a small business, you need to be prepared to be constantly re-inventing, re-imaging, and getting creative. You might need to rethink your product offering, and your marketing strategy and shift your focus on a monthly basis. Be sure to be doing this whilst retaining a core belief system, because you want your business and product offering to be sustainable and your clients and your partners to trust your company.
3. Remain Focused
The key to building a sustainable business is having crystal clear goals, yet staying flexible enough to evolve when internal or external factors illuminate the need for a different or more nuanced approach. Also, welcome the reality that success no longer equates to the relentless pursuit of profits at the expense of people, communities, and the planet.
4. Invest In Your Team
Nurture and develop your people. Ask your employees what they want to do and how they want to grow both personally and professionally. Invest in training for them. Show authentic interest in their interests and family. Make sure the business is doing excellent work that they are proud of. Compensate them well, surprising them from time to time with meaningful gifts or experiences.
5. Practice Patience
Recognize that not every aspect of building a business is a sprint; it’s more often a marathon that requires patience, due diligence and an unwavering allegiance to your core values. Speed is overrated and at some point it becomes reckless, so building from the vantage of being in it for the long haul can pay dividends over time.
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6. Seek Customer Feedback
Build for and by your customers. Too many organizations make finite business decisions for short-term profit and loss benefits. Leading brands utilize customer feedback to steer business decisions for their top stakeholder.
