Did you know that Nike has found a way to weave more eco-friendly, reducing the labor time and the raw material required to make each shoe? This has kept more than 3.5 million pounds of waste from ending up in landfill and also resulted in spending less on waste disposal, material, and transportation.
Other giants, such as Facebook, Amazon, and Google, have committed to getting 100% of their data center power from renewable energy sources. Other than providing them with good PR, this decision led to significant savings, as renewables are more affordable than fossil fuels.
Businesses no longer need to compromise between being eco-friendly and being profitable. Let’s see why exactly the future of business is green and how you can jump onto the bandwagon.
Sustainable Business Strategy
While it’s important to look at the bigger picture and contribute to preserving the planet, as a business owner, you also need to see how much you need to invest and what you stand to gain. That’s why you’re going to need a sustainable business strategy that predicts how you are going to implement new business models and how much you expect to profit. First, look at your current business practices and check for some greener alternatives.
Tax Breaks for Green Strategies
When creating a new business strategy, check if there are any tax breaks and legal advantages that can help you go green and keep your business profitable. Some states give incentives to businesses that decide to put our planet before profit. Companies that use renewable energy sources such as wind turbines and solar panels can take part in a sales tax exemption or earn up to 30% tax credits. Check with your local authorities about what your government can do for you while you’re doing what you can for Mother Nature.
Even without greening up your production process, you can make your workplace more eco-friendly by opting for more energy-efficient office supplies and practices.
The most obvious example is reducing or eliminating paper in favor of digital storage. That way, you’ll not only make your operations more earth-friendly but also save a lot of money and make your workplace more organized. Also, you can replace your old devices with energy-saving ones.
If your employees need to get from one place to another across a large company lot (e.g., to the storage unit, management, kitchen, or other facilities), you can have them use golf carts instead of cars to save energy. These vehicles can also be used for other chores as well, depending on the traffic rules in your state. Plus, golf carts are easy to maintain, and they require less fuel or electricity than automobiles.
Carefully Choose Who You’ll Partner Up With
Running a business means that you need to cooperate with other companies as well. They might be your vendors, suppliers, or delivery companies. If you’re contributing to the profit of businesses that are endangering the environment, you are a part of the problem, even if you’re keeping your operations green. Make sure to check the companies you do business with. This will also help you make productive partnerships and encourage others to make changes regarding their production and protocols. Also, by associating with earth-friendly businesses, you may learn some new things about how to save the planet – and save more money while you’re at it.
Going green can also affect the individual employees that work in the company and their relationships and productivity. Whether that effect will be a positive one is up to the company management. Since the employees will have to contribute by changing some of their habits, it’s important to motivate them and make sustainability a part of the company culture. By involving everyone and taking an authentic approach to doing business, you will be able to generate a sense of camaraderie and thus improve overall productivity.
Generate Good PR
Making your business more energy efficient can result in a more loyal customer base and, consequently, higher profit. Being a company that prioritizes the environment will also attract new customers and create more PR opportunities. Also, businesses that promote and practice sustainability can solidify their influence both in the community and the industry.
Of course, you will need to do your part to create PR opportunities that can raise the profile of your company. So, promote your eco-friendly activities on social media and try to get involved in the local community by investing in environmental actions and charities.
Attract New Employees
You will even be able to attract more qualified and prospective employees. According to the Green Business Bureau, a huge majority of employees think their company’s environmentally-aware program helps improve their relationship with the employer. Close to 80% of candidates look for companies with sustainability programs when looking for a job.
These are just some factors and strategies to prioritize as you set out to make your business more eco-oriented. It all starts with one decision – making sustainability a priority for your company. When that’s your true goal, you’ll be able to implement green practices and strategies step-by-step and remain consistent in your mission. The effort will definitely pay off in numerous ways, including your bottom line.