Sustainable business

Sustainable Business: Why Your Startup Should Go Green

Latest posts by Chris Smith (see all)

When it comes to starting a business, many entrepreneurs will concede that success is customer-centric. As the world around us becomes more eco-friendly, in turn, many of us expect the businesses we frequent to have some degree of green credulity, in the form of sustainable business practices.

Research shows us that this trend is on the rise: a McKinsey survey revealed that 57 percent of respondents are increasingly taking a long-term strategic view of pursuing and integrating sustainability opportunities into their business models.

Advantages of maintaining a sustainable business

Startups that present a green, eco-friendly business model from the start present a number of advantages. First, the very fact that a company is small can lend itself well to a marketing strategy, as the reduced overheads and smaller operating capacity will make for a business that has a smaller carbon footprint than a large multinational competitor.

Maintaining a sustainable business with eco-friendly products and packaging can directly impact your bottom line. Millennials will often pay a premium price for eco-friendly products that they believe reflect their values.

Marketing your sustainable business

This brings us to the second advantage of building a startup that is environmentally conscious and sustainable. Highly regarded green credentials are seen as a major advantage in terms of marketing opportunities, making them doubly important when trying to get an idea off of the ground.

Do it right, and you have a customer for life. Take the opposite approach, and try to hide the carbon footprint of your business, then you’re left with a scandal. This equates to brand damage that will take years of considered marketing strategy to recover.

When it comes to making your businesses environmentally friendly, the best approach is not to make it forced, or disingenuous. The most effective way of achieving this is by having a personal belief in the sustainability of your business from day one.

Granted, your ability to employ such a strategy will differ massively, dependent on your startup’s industry. However, a mindfulness toward the environmental impact of your business can go a long way, especially when it is employed as a supporting foundation on day one. Your customers will latch onto this, and will support your business. That initial surge of brand loyalty is vital to the success of any startup, regardless of the industry in which it exists.

Total
1
Shares
Related Posts
employee retention
Read More

5 Tips to Hold on to High-Performing Employees

Even before the pandemic, employers complained of labor shortages. Now, they’re experiencing an even tougher time finding and retaining high performers. How challenging is the marketplace for businesses looking to fill seats with talented professionals?...
innovative
Read More

The 4 Elements Necessary for Building Innovative Teams

In order to gain traction, earn revenue and turn a brand into a sustainable business, entrepreneurs must innovate. And in order to understand how to build innovative teams, it is important to first understand what...
health-insurance-benefits-jpg
Read More

5 Key Steps to Health Insurance Benefits Renewal

Group health insurance renewals are a key component of employee benefits planning and management. Organizations should know where they stand throughout the course of the year, with specific steps taken months in advance to ensure that...