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If starting a green business is something you’ve been aspiring to do, then you’re in good company. Many businesses are choosing to go this route, or are at least thinking about how to do business better by incorporating eco-friendly practices into their daily operations in a bid to do their bit for the environment. If you are keen on joining this upward trend, here are tips from Turnbow Law Firm on how to build a greener, more sustainable business from scratch.
Seeing things from a fresh perspective
Many would agree that the effects of climate change and pollution on our planet are palpable. In fact, the state of the environment is in disarray, and it is therefore up to us as individuals and business owners to play our part in putting things right. This starts, of course, with seeing the world from a fresh perspective, or a ‘green lens’ if you will. Moreover, it’s about analyzing how to build a sustainable business that minimizes our carbon footprint on the planet and learning how to assess what actions can make a positive difference on the environment or not.
Examples of eco-friendly practices
Some of the green practices that you incorporate on a daily basis include going paperless, using sustainable packaging, allowing more remote work where possible, making use of sustainable office furniture, and reducing, recycling, and reusing waste. Another popular option is installing solar panels to save energy at your business. This will be one of the costlier upfront projects, but the positive ROI – break even occurs within 15 to 25 years – is a big plus. Understand that there’s a price range associated with the cost of solar panels, based on wattage and the type of panel. Typically, a 250-watt solar panel will run you $175 to $375, plus you’ll need to get quotes on how much the installation will cost.
The costs involved
A big component of starting a business, regardless of its type, is obtaining the startup capital to get your business off the ground. For most businesses, these startup costs will look pretty standard. For example, you’re going to need to purchase a business license or permit to start conducting business and buy equipment and furniture to get your business operational. You’ll also need to set aside funds for marketing and advertising costs as well as costs associated with the day-to-day running of your business such as utility costs, payroll expenses, inventory expenses, and rental costs not to mention insurance, taxes, etc.
However, for businesses going the green route, these considerations may be a tad more complex to ensure that it meets ‘eco-friendly’ standards. While some of the expenses in rolling out your green business can be costly (at least initially), they will probably end up saving you more in the long run. Furthermore, Lavell Partners notes that there are certain tax advantages associated with going green.
Moreover, when starting a business from scratch, it’s also vital to be aware of the financial risks associated with it. And sometimes these risks can be too big to recover from. So, to prevent your business from being just another statistic, it is paramount to do the necessary research beforehand in terms of viability and profitability to ensure your green business has a fighting chance in a sea of competitors.
Marketing your green business
Marketing a green business may take a more conscientious effort than it would otherwise. Furthermore, it might take even more considerable effort to assure the public that your green business truly is going above and beyond, which is why it’s a good idea that you work with an experienced team of digital marketers to create marketing strategies that enhance your business growth.
You may also consider running Facebook ads detailing your offerings. This is an effective and inexpensive way to market your business, and you can quickly create Facebook ads by using an online ad maker and adding your own customization options.
Green Business Bureau points out that, overall, marketing your sustainable business will be about authenticity and visible action showing that you do what you say you do. That said, there are certain things you’ll want to include in your marketing strategies such as sending out a clear message to the public communicating your intentions, getting your green business certified, making sure your staff are equipped to handle the responsibility of being green representatives of your business and partnering with other like-minded companies that are taking environmental issues seriously, and more.
Very successful ecopreneurs
Of course, if you’re stuck at all about where to look for inspiration, there are plenty of highly-successful ecopreneurs who are impacting the world (and the environment) in a big way such as Paige Beuning, Miguel Munoz, and Stefano Girelli, to name a few.
In summary, sustainable businesses are the way of the future. Remember to do business with a fresh perspective, operate with eco-friendly practices, and set an example by going green and marketing your authenticity. So, whether you’re thinking of starting a business or are currently running a business, it would be wise to keep these things in mind if you want to remain on trend with where the world is heading.
If you’re a start-up, small, or medium-sized business, Turnbow Law Firm provides effective, timely, and cost-efficient legal services. Call us today at 619-663-8369 for more information!