Going green to increase profits

Businesses can meet their triple bottom line and improve our environment simultaneously, by incorporating some simple, positive environmental activities into their everyday operations.

 By reducing your business’s environmental impact, you can save money and help save the planet. This small initiative may seem like it will make little difference to the environment, however if every small business adopts this approach it can make a significant difference to the environment. Waste not only uses up the earth’s resources, it squanders your money.

One of the hardest things to remember (but easiest things to do) is turn off all electronic devices and utilities overnight and weekends. Your printers, monitors, copiers, are all on ‘standby’ mode. The extra minute it takes to warm these up in the morning isn’t really that much of a hardship. Also, look for eco-friendly supplies and raw materials. And always remember to print out double sided when you can!

These steps will not only benefit the environment but also your business! Draw attention to the fact that you integrate these initiates throughout your business’s operations and this will allow you to differentiate your business from its competitors. If you’re willing to make a substantial commitment to eco-friendly operations, you can stand out from your competitors and carve a niche in the market. Due to rising environmental issues many customers are making choices based on a preference for environmentally sensitive products or services, and this can give you a competitive advantage.

Encourage employees to take public transportation to work. Many business are located near public transport. The benefits of such practices include saving fuel, and also mean that staff without their own transport can easily get to work. If you hire local staff the benefit may be even greater.

Sell a “green” product or service. Ready to go totally green? The market for environmentally sensitive products and services is exploding. Those considering starting a business or those looking to revamp their existing company, can focus on serving the eco-conscious market directly.

Have a go at inventing something. We’re still in the very early days of the green movement and many problems need to be solved. A good, workable idea for a product or service that can help save the planet has got good prospects, so now is the time to write that business plan and develop that product. Don’t forget about the intellectual property issues that may also need to be dealt with such as trademarks.