episode 15-season 2-sustainable-business-practices

00:00:00 Speaker 1: Hello and welcome to episode 15, season two of EmpowerBiz-MSME Growth Mindset. I am Abanibhusan Bera here, your host, a business growth strategist and sales coach. Today we are going to talk about a topic that is not only critical for the future of our planet, but also for the long term success of your business. And that's sustainable business practices, 00:00:25 Speaker 1: more and more customers, employees and investors are looking for businesses that are committed to sustainability. And I know that as an MSME entrepreneur, the thought of integrating sustainability into your operations might feel overwhelming, especially where you are juggling so many other priorities. But here's the good news 00:00:50 Speaker 1: going green doesn't have to be complicated or expensive. In fact, in the long run, it can save you money, attract more loyal customers and position your business for long term success. So today we are going to dive into how you can implement sustainable practices in a way that makes sense for your business, your budget and your future. Let's get started 00:01:20 Speaker 1: first. Let's talk about why sustainability should matter to you as an ambitious entrepreneur. You may think I am a small business, how much of an impact can I really have? But the truth is when small businesses adopt sustainable practices, the collective impact can be huge. Not only that sustainability is increasingly becoming a requirement in today's market. 00:01:48 Speaker 1: Customers are more eco-conscious than ever and they want to support businesses that share their values. On top of that, sustainability isn't just about helping the environment. It's about building a business model that is efficient, resilient and cost effective. 00:02:11 Speaker 1: Whether it's reducing waste, conserving energy or finding innovative ways to recycle materials. These practices can reduce your operative costs while also appealing to customers and partners who prioritize green practices. 00:02:30 Speaker 1: Now, I know that one of the biggest concerns for any business, especially small oness is cost. You might be wondering whether sustainable practices are just an extra expense that your business can't 00:02:46 Speaker 1: afford right now. But the truth is many sustainable practices can save you money in the long run. For example, investing in energy efficient lighting or equipment may require an upfront cost, but it will lower your energy bills over time. Similarly, reducing waste can cut down on disposal costs and using less packaging can save on material costs. 00:03:15 Speaker 1: Another thing to consider is that adopting sustainable practices can also open up new opportunities for growth. Many larger companies now require their suppliers to meet certain sustainability standards. By going green you can make your business more attractive to these larger partners, giving you access to bigger contracts and a broader market. 00:03:46 Speaker 1: So how do you actually go about implementing a sustainable practices in your business? Let's talk about a few practical steps you can take. These are things you can start doing today without needing a huge budget or a complete overhaul of your operations. One of the easiest places to start is energy efficiency. 00:04:12 Speaker 1: Look around your office, workshop or store. Are there simple changes you can make like switching to led lights or installing motion sensors to turn off lights when they are not needed. How about upgrading to energy efficient appliances or machinery? These are small changes but they can add up over time and make a noticeable difference in your energy. Ws. 00:04:40 Speaker 1: Let's think about waste reduction. 00:04:44 Speaker 1: This can be as simple as implementing a recycling program, reducing the amount of paper you use or rethinking your packaging materials if your business uses a lot of packaging. For example, consider switching to recyclable or biodegradable materials. 00:05:04 Speaker 1: You could also look into ways to minimize packaging altogether which not only helps the environment but can also reduce your shipping and material costs. 00:05:16 Speaker 1: Another area to explore is your supply chain. Take a look at the products and materials you are purchasing. 00:05:25 Speaker 1: Are there eco-friendly alternatives available? Can you source more materials locally? Reducing the carbon footprint of transportation? Not only can this make your supply chain more sustainable, but it can also help you build stronger relationships with local suppliers and finally consider water conservation 00:05:48 Speaker 1: if your business uses a lot of water, whether for manufacturing, cleaning or daily operations, there are probably ways you can cut down on water usage. Simple steps like fixing leaks, installing low flow faucets and reusing gray water can make a significant impact over time. 00:06:11 Speaker 1: One important thing to remember is that sustainability isn't just about the actions you take as a business owner. It's also about creating a culture of sustainability within your organization. This means getting your employees involved and encouraging them to contribute to your green initiatives, start by educating your team on the importance of sustainability and how they can play a role in helping your business go green. 00:06:41 Speaker 1: This could be as simple as encouraging them to turn off lights and computers when they are not in use or making recycling bins easily accessible in common areas. You could even consider setting sustainability goals for your team and rewarding employees who come up with innovative ideas for reducing waste or saving energy. 00:07:05 Speaker 1: Another way to build a culture of sustainability is to lead by example, when your team sees you making sustainability a priority, they will be more likely to follow suit. And it's not just about internal culture, communicate your sustainability of force to your customers too. 00:07:25 Speaker 1: When customers know that your business is committed to making a positive impact, they are more likely to support you and even spread the word about your efforts. 00:07:38 Speaker 1: Speaking of customers, one of the most powerful benefits of adopting sustainable practices is how it can enhance your brand's reputation. 00:07:50 Speaker 1: Today's customers are increasingly choosing brands that align with their values and sustainability is at the top of that list. So don't be afraid to shout about your efforts from the rooftops. Let your customers know about the steps you are taking to go green, 00:08:09 Speaker 1: whether it's through social media, email newsletters or even signage in your store. Share your sustainability story with your audience. You could even create a section on your website that highlights your green initiatives and the positive impact they are having on the environment. 00:08:30 Speaker 1: Transparency is key here. Be honest about your journey towards sustainability. If you are just starting out, that's ok. Let your customers know about the small steps you are taking and share your long term goals. Customers appreciate honesty and they will respect you more for being open about where you are on your sustainability journey. 00:08:55 Speaker 1: Thank you for joining me today as we explore the sustainable business practices and how going green can set your business up for long term success. 00:09:04 Speaker 1: Remember, sustainability isn't just about saving the environment. It's about building a resilient, efficient and profitable business that can thrive in the long run by taking small steps like improving energy efficiency, reducing waste and engaging your team in sustainability force. You can make a big impact on your business, your community, 00:09:28 Speaker 1: the planet and don't forget to communicate your efforts to your customers. They want to support businesses that are making a difference. If you found value in today's episode, please subscribe to our podcast. Leave a review and share it with others. Entrepreneurs visit our website, msmegrowthhub.com, 00:09:55 Speaker 1: It's msmegrowthhub.com for more resources and join our MSME Growth Hub community to continue your journey to business excellence. Until next time, keep going green, stay sustainable and keep growing.