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How to grow a sustainable business - Part 1

April 11, 2019

 

What do you associate with sustainability? Whether in the media, our social environment or the latest technologies: everywhere we are confronted with the term. Sustainability is often closely linked to climate protection and environmental friendliness, but there is much more to it than that.

The primary objective of this post would be to give you tips on how to grow a sustainable business. Here you can find out how your business can survive in international competition in the long term and what sustainability is all about.

 

Balance the three Dimensions

 

Behind the concept of sustainability lies a three-dimensional overall concept consisting of ecology, economics, and social issues. In terms of your business, this means that you should learn to balance natural, economic and social issues and resources from a long-term perspective. This includes, firstly, that companies check both their products and their processes and supply chains. For example, with regard to the efficient use of resources, the environmental impact of corporate actions and compliance with the employee and human rights. Secondly, this includes keeping an eye on the long-term nature of business models, such as the return potential of each individual investment. And thirdly, that sustainability challenges such as climate protection are seized as business opportunities.

 

Continuous Learning

 

If you want sustainable success for your business, you should never stop learning. A particularly important teacher can be your target group. Who is this and what does she want? How can I best support her and how can she be reached? If you build a deep authentic relationship with your target audience, they will be more willing to support you in your long-term vision.

 

Progress in technical and process knowledge

 

In the long run, your business must be able to deal as efficiently as possible with the increasingly scarce resources. This requires a system of relative prices that reflect as fully as possible the costs and benefits of the individual economic goods for the economic actors. In order to achieve sustainable success, it is also always worth investing in staff training. They carry the vision and are the executive force that generates  success. The better trained, the more power can be generated. In the future, technical and process knowledge will be more and more in demand, which is why it is advisable to deal with it today by using innovative methods for your business. For example, a process-related advance in knowledge could be to implement a uniform internal communication system. This procedural change could then be gradually adapted to technical progress. But here, too, of course, the basic prerequisite for lasting success remains the training of personnel. More tips will be given in our next post that will help you in growing a sustainable business.

 

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