Creating a sustainable business plan is great for your future company’s bottom line and is important for the environment. Statistics show that industries like construction make up around 38% of green businesses, but almost any sector can be more environmentally friendly. It can be challenging to know where to get started with any company. Thankfully, you can incorporate sustainable practices into your business and marketing plan from the beginning. That way, you can be sure you’re building something green from the ground up. Here are some tips on where to begin, courtesy of The Kaufman Chamber of Commerce.
Choosing Your Business Structure
One of the first things you need to do is choose the right structure for your business. Different structures offer different tax and legal benefits, so it’s worth your time to research your options. For instance, an S Corp offers the benefit of pass-through taxation, whereas a C Corp allows for foreign shareholders. It might also be worthwhile to enlist an online formation service to help set up your business and provide ongoing support.
Create Your Business Plan
When creating your business plan, be sure to consider sustainable practices at every step. First, create an overview of your business, complete with a vision and mission statement. This is important for investors, and creating the foundation for future marketing and letting customers know being green is essential to the company. If you are creating a physical product, you’ll want to make sure you are using sustainable manufacturing practices and include that in your plan as well. Another option is having a plan for offsetting carbon usage. Many large companies do this to reduce their carbon footprint.
Construct a Marketing Plan
By using the foundation of your business plan, create a marketing plan that fits your brand’s voice. Publicly stating your eco-friendly goals as a company will help connect you to the right audience and let them know what your company values. Map out the social accounts, advertising, and in-person techniques you will use to get your message across so that you have a cohesive message.
Infographics are another excellent way to spread the word, thanks to their unique combination of eye-catching images and brief lists of facts. If you aren’t sure where to start,you can try this free infographic tool that makes use of time-tested templates.
Understand the Benefits and Costs
Sometimes doing things in a sustainable way will be more expensive for your business. For that reason, it can be slower to build, and your profit margins may be smaller. Make sure that you have a tight grasp of the financial elements before jumping in headfirst. You don’t want to quit a lucrative job to start a business that isn’t financially feasible. If you get overwhelmed at any point, you can always look for experienced help along the way.
There is usually a way to make it work, however. This is evidenced by the significant number of successful entrepreneurs who have already done it. Vina Lustado, the founder of Sol Haus Design, is a great example. Vina has created a business that constructs sustainable buildings that are beautiful and functional. She left her position working for corporate clients and started a successful company of her own.
Creating and marketing a green enterprise is a rewarding experience for many business leaders. By following some of the steps above, you can find a balance that works for you and be on your way to becoming a leader in the green market.
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