9 ways to run a sustainable business
What you need to know:
More millennial entrepreneurs are moving away from enterprises that are purely commercial, and going for projects which solve different problems within the society.
The goal has shifted from just making money, to creating a sustainable environment for their business.
Sustainable business. You have probably heard this phrase already. In the realm of business, no discussion is complete without the mention of sustainability.
While the creation of a sustainable environment is a responsibility of all entrepreneurs, research indicates that this concept matters more to young people. After all, they have a longer lifespan within which they can do business.
Former Puma CEO Jochen Zeitz says: ‘‘In the next few years we will reach a tipping point where businesses will not only see sustainability as a responsibility, but also as an opportunity to grow quickly and overcome different global concerns.’’
More millennial entrepreneurs are moving away from enterprises that are purely commercial, and going for projects which solve different problems within the society. The goal has shifted from just making money, to creating a sustainable environment for their business.
They are advocating for causes such as environmental conservation, human rights or digital revolution.
But what is sustainable entrepreneurship and how can young entrepreneurs run sustainable business ventures?
Invent
Do extensive research so that you can discover fresh ways of creating new products and services, and to know how to preserve the environment while conducting your business.
Uphold professional ethics
Managers of top brands are often highly respected in the community, and have the power to drive social trends. They should, therefore, abide by the ethics of their respective trades, and strive to be fair while discharging their duties. Organisations that uphold acceptable practices in their operations are usually held in high regard, and are more likely to succeed.
Take advantage of technology
In this era of technological advancements, corporates need not cling onto archaic methods of doing business. As a young business owner, you could embrace a paperless office where all information is processed and stored in computers.
Be mindful of the environment
A clean environment is at the heart of business sustainability. Ensure that you use clean energy such as wind and solar power to conserve Mother Nature. You could also go for eco-friendly furniture instead of those made of wood and plastic.
Collaborate with like-minded individuals
Establish a team that understands the need to operate within a sustainable environment. There are many opportunities available where young professionals can volunteer and offer their talent and skills to create sustainable business environments.
Be active in social discourses
Young entrepreneurs should take a firm stand on the issues that touch on the welfare of the community, even if their views are unpopular.
Speak up about social and environmental ills
Youth should be conscious about key environmental, social and political concerns. Be ready to speak out against practices that do not promote social cohesion, or those that encourage environmental degradation.
Get a viable strategy
Ensure that your business is sustainable right from the onset,. This way, it will be easier to implement strategies that promote continuity in your day to day operations. Some entities have been forced to adopt new ways of doing business after their initial methods became obsolete, and had to part with enormous amounts of resources to achieve sustainability.
Embrace general best practices
When positive social and environmental change is realised, businesses will certainly reap the fruits. Besides pushing for increase in profits, young entrepreneurs should see to it that their activities promote peace and rule of law.
