Did you know that sustainability and profitability are closely linked in today’s business world? Customers are starting to care about how they get their products and services and what’s the story behind them. While it may seem contradictory that sustainability is correlated to profitability, it’s actually becoming one of the most effective ways to do business! Practicing sustainable and ethical practices helps companies connect with the public, leads, and customers. That’s why in today’s blog, we’ll be going over how sustainability can be profitable for your business.
How Sustainability Is Profitable for Your Business
When you see big oil companies shifting toward sustainability, you know times have evolved. However, how could a business be sustainable and profitable simultaneously? While it may not be a walk in the park, it is possible! Just have in mind that it takes a lot of effort since it requires a culture change and continuous consistency! Still, it’s well worth your effort! Being on the sustainable and ethical side of things is becoming a part of the circular economy will place your company on the positive side of public consciousness. Below we’ll go over a few things to keep in mind while making the shift:
1. People, Planet, & Profit at the Top Level
Like everything in business, embracing a new idea begins with leadership. In other words, the owner/CEO, senior team, and managers all have to embrace the concept. However, in order to have everyone embrace it, the triple bottom line will have to be genuinely adopted at the topmost level! It will have to become a core principle to the existence of your company. This means understanding why it makes sense for your company to become part of a circular economy.
3. Build & Maintain Capital Trust
At the core of profits and the planet are the people. It takes the trust and support of your team, customers, and community to succeed in becoming a sustainable company. Essentially that means being transparent with what you’re doing and why. It also means communicating what you’re doing to your team, customers, and the broader community about your changes and efforts. Continually having two-way conversations with your constituents creates the trust capital that will eventually lead to increased profitability through sustainable actions and practices.
3. Bringing in Outside Expert Help
Sometimes it takes outside expert help to reorient your company. When you change how you do business, it takes hold of pretty much every aspect of your company. For example, your operations may change, and how you position your business and marketing may evolve. Becoming a genuinely sustainable, environmental, and ethically mindful company means even your human resources practices must change. An outside expert can help you see where you need to focus to create the ultimate road map for you. At Aceneca, guiding businesses and transitioning their way of doing business is what we do. If you’re looking for external help in your transition, feel free to reach out to us!
Sustainable & Profitable Businesses with Aceneca
In order for a business to incorporate sustainability into their structure, it has to be adopted into its business model and embedded at the highest level. As you relocate every element and business line within your company towards a sustainable model, you have to measure and hold your team accountable for meaning happening at every level. We hope this blog helps you see how sustainability can be profitable for your business. At Aceneca, we want to spread ideas that could potentially become the seed for a profitable business. Our purpose is to guide your efforts to create a viable and profitable business while making positive environmental and social changes. With the implementation of purpose and shared value, we can help you grow your business AND make a difference! Click here to get in contact with us today.