Eco-friendly businesses have the potential to change the world. If more entrepreneurs focus on building companies that combat issues like climate change, deforestation, biodiversity loss, and pollution, we can make the planet a better place for our children. What’s more, the benefits of sustainable business models go beyond environmental protection. Entrepreneurs also have a lot to gain by uncovering sustainability opportunities in their business! Here’s a quick guide from Ecological Yoga Mats to help you incorporate eco-friendly practices into your new start-up.
Fully Commit to Your Idea
Many prospective entrepreneurs get paralyzed by the sheer number of options in front of them. There are so many ideas to explore and business models to consider. Often, it’s the fear of making the wrong choice that keeps entrepreneurs in a state of procrastination. The only way to overcome the paralysis of indecision is to pick an idea and just run with it. Choose the business idea that’s closest to your heart instead of the one with the potential to make the most money. If you truly believe your business idea can have a positive impact on the world, you’ll do whatever it takes to achieve success.
Understand the Business Case for Sustainability
Many entrepreneurs are hesitant to adopt sustainable practices due to fears of lost profits or wasted time. However, research and business experience show that the benefits of sustainability far outweigh the costs. Sustainable businesses focus on what is called the “triple bottom line”, balancing social and environmental benefits alongside their revenue goals.
Sustainability can offer numerous benefits for your future business:
● Relying on renewable energy reduces your risk of supply issues.
● Using fewer resources reduces production costs.
● Sustainable practices encourage innovative ideas for new business opportunities.
● Eco-friendly companies have an easier time attracting and retaining employees.
● Focusing on sustainability builds brand loyalty.
● Eco-friendly initiatives will help you stand out from your competitors.
Reduce Your Negative Impact
There are many different paths to sustainability. This is another area where your options can become overwhelming. Instead of looking for innovative ways to clean up the ocean or capture carbon from the atmosphere, start with simple changes to business practices that negatively impact the environment.
Think carefully about your business idea and look for areas where changes will have the biggest impact. For example, if you will need to hire employees, offer remote work opportunities to reduce your carbon footprint. If you will be selling and shipping products, explore sustainable packaging solutions instead of using environmentally harmful materials like plastics, Styrofoam, and cardboard.
Communicate Honestly with Consumers
Marketing your sustainable business is the final piece of the puzzle that will bring your idea to life. Once you get those first few customers, it will become increasingly easier to land sales. To help drive traffic to your brand-new website, consider using Google AdWords to display your business in Google search results. Hiring an AdWords specialist is a good idea if you’re not familiar with digital marketing. The Google Ads Specialist salary on Upwork ranges from $15 to $40 per hour, so you should be able to hire a professional within your budget!
The key to building a successful eco-friendly business is good, honest communication with consumers. According to GreenBiz, consumers are deterred from buying sustainable products due to three main factors: confusion, poor trust in companies, and lack of information. Done right, marketing can remove all three of these roadblocks. Be transparent, share concrete data, and seek third-party certifications to back up your claims. Localized marketing can also help you address consumer concerns. Consider how different markets view sustainability in different ways and try to adjust your messaging accordingly.
Building sustainable practices into your startup is a great way to stand out from your competitors and future-proof your business. As consumers grow increasingly concerned with the environment, eco-friendly businesses are positioned to become industry leaders. Do your part for the planet and the profits will follow!
Partnering with other sustainable brands is a great way to jump-start your business. If you’re looking for eco-friendly products to sell, check out the Ecological Yoga Mats website for wholesale opportunities!
Author: Amy Collett of bizwell.org