Building Sustainability Initiatives Into Your Small Business Strategy
It probably comes at no surprise when I say that the relationship between individuals and the institutions we relate to is in desperate need of an overhaul. Implementing sustainability strategies into the fabric of your business culture is a way in which we can make positive and critical culture shifts at a macro scale. When we integrate sustainable business practices across our organizations, it helps us make changes to build a better world.
“Sustainable business is how we consciously accept the moment we are in in a way that allows us to build a future that is equitable for all. ”
— natalie brite
Our planet depends on a collective effort to weave ethics and sustainability into our every day ways in which we exist in this world. When we apply sustainability to business, it supports us in creating a new breed of business that simultaneously establishes new social contracts. This requires business owners, entrepreneurs, and organizations to put social and environmental impact at the heart of all they do so that their work becomes a force for good.
Sustainable business is the future.
So then, what is Sustainable Business?
Sustainability in business is all about the effect business on society and the planet. I tend to use the terms conscious business and sustainable business interchangeably when defining both terms, though there are key concepts that cater more specifically to one term over the other. To read up on my perspectives and views regarding conscious business specifically, check out our other article that tackles that. A sustainability driven business model consists of prioritizing society, the planet, inclusion, equity, and partnership all in equal parts so to work towards creating a better planet, better communities, and therefore better businesses. Being a sustainable business means you are upholding your social responsibility. Social responsibility includes the centralization of environmental action, community involvement, and economic growth in a way that restores, repairs, and respects the environment and society. In many ways, sustainable business functions under a circular economy model that is driven by recycling, reusing, repairing and restoring things to a space of collective alignment. To be a sustainable business therefore means that you are a business who wants to do more than just make profit. You deeply care about being in right relationship with the world in which you belong to. Sustainability strategies practiced by businesses become conduits for healing of the self, society and planet.
To make sustainable business the future, we must shift social behaviors, norms, beliefs, customs and habits of business and entrepreneurship. We must not just know that sustainability is important, be must actively take responsibility of making it a part of our social contract. Aligning business strategies with sustainability helps organizations to become proactive instead of reactive. It’s not enough to only shift into a sustainability model once you have, say, gotten heat on your business for failing to uphold practices that have the best interest of the planet and society in mind. As organizations wanting to weave sustainability into their business models, it’s about shifting the very culture of your business in a way that writes new social constructs. Taking a checkbox approach to sustainable business is not, well, sustainable. We must, as leaders, believe in sustainability to the very core of our being. This requires us to not only see the necessity in sustainable business, but care about the consequences of not practicing it enough to work consistently to invoke a culture that fully believes in the value and importance of a sustainable business model.
Sustainability driven business initiatives
There are many ways in which a business can actively choose to weave sustainability driven initiatives throughout their organization. Here are some common things that sustainable businesses prioritize:
Health and wellbeing (of everyone and everything involved in and impacted by the business)
Diversity and equity
Waste Reduction
Transparency
Accountability and responsibility
Impact assessment
Responsible innovation
Collaboration and partnership
Clear communication of mission and vision
There are many reasons for bringing sustainability strategies into your business, and let’s explore the more mission critical ones.
People are becoming more interested in investing in businesses that are committed to social good than ever before. Consumers feelings about brands impact buying behavior. Consumers are becoming more willing to spend more money on sustainability driven products and services. As well, people are more inclined now than ever before to actively seek out products and services from businesses that are actively prioritizing sustainability and ethics efforts within their organizations because consumers want to be part of culture that emphasizes sustainability.
When a market becomes sustainability centered, it promotes universal access to sustainable products. One of the reasons that businesses hesitate to instill sustainability strategies into their organizations is because of the assumption that people won’t pay the prices for sustainable products of services. Yet, the only reason that sustainable products or services have often been more costly is because it is not the norm. When we work to instill new social contracts that prioritize sustainability, this gives us the chance to shift the market in a way that makes sustainability not only status quo, but accessible for all.
Establishing sustainability strategies within your business improves your brands reputation because it shows that you are addressing 21st century realities as well as needs. Often times, companies are judged on their impact on society and the planet. By taking responsibility of your part in impacting these things, you show your potential customers and clients that you are considering more than your own personal benefits to doing business. This thus builds relationship and trust with those involved in your business, because they can gain an awareness that you also have their best interest in mind.
Practicing sustainable business gives you a chance to develop a broader purpose to your work beyond making money. This can help you create a more meaningful culture within your organization, ultimately helping those involved in your organization to gain a deeper sense of belonging and benefit. When those involved in your organization feel included, supported, seen, and valued, this increases innovation, productivity, quality of work, positive feedback, stronger brand credibility, more loyal customers and clients and allows people to feel like they can bring their whole, true selves to the space. Creating a culture of sustainability within your organization that can be felt by all that are involved can produce countless benefits for your business.
Sustainable business models give you an innovative advantage and edge within your industry. Sustainability is a growing market where the demand is going up for sustainable goods and services. This gives business owners the opportunity to drive change within their industry and within society in a way that also stays ahead of the curve. It is not a question as to whether or not we should instill sustainability into the fabric of our organizations, it’s a question of when we will do so in a way that becomes the new norm.
“Today’s sustainable and ethical businesses will become tomorrows industry leaders.”
— natalie brite
Leaders integrating sustainability into the fabric of their organizations work to reorient the focus to be on long term benefits and value instead of short term internal gains. In many ways, this is a form of reimagining capitalism so that we can ensure that people and the planet are having their needs met in a way that fosters and environment where they can thrive. Leaders in sustainability understand the importance of embedding diversity, equity and inclusion into all aspects of their operations. They participate in social and environmental objectives and focus on generating a new role of business in society. Leaders in sustainability also understand that we are currently experiencing a vast array of interconnected changes on our planet that impact both society and the earths wellbeing. As a sustainable business leader, there is an awareness that making business about what is for the greatest good for people and planet ultimately helps business owners make decisions that are also of the greatest good for their organization.
Leaders dedicated to creating a culture of sustainability
Leaders emphasizing sustainability address things like:
Climate change
Income inequalities
Depletion of earths resources
Human Rights issues
Healthy work environments
Racial inequalities
Gender inequalities
Declining living standards
Un-equitable access to education
The importance of skills development
Unstable social systems
Unethical practices and advancements
Lack of access to healthcare
Inadequate childcare systems
Systemic discrimination
…and more
Sustainable business is a shared opportunity model. There is little to nothing to lose in instilling sustainability strategies into all organizational practices and there is everything to gain. Sustainable business helps us to input a triple impact model for doing business that emphasizes the 3 P’s: People, Planet, and Profit. As business owners, we can do well AND do good. It doesn’t have to be one way or the other. We can do good by addressing social and environmental issues in a way that allow us to positively impact and change them while simultaneously doing well in our businesses in a way that allows us to generate responsible profits that sustain our organizations. Shifting the culture of entrepreneurship and business is no easy task and implementing new social contracts is not something that will happen overnight. Yet just because something does not produce instantaneous results or immediate gratification does not mean that it is not worthy as well as critical to pursue.
Sustainability is a long game approach to business, where we make choices today that give the ability for generations that come after us have a future to look forward to where everyone can thrive.
