But when you’re thinking of business growth, your focus should not be solely on immediate gains. You must aim for long-term value. That is, the kind that doesn’t just spike your numbers this quarter but keeps your business thriving for years to come.
Ask anyone for advice to grow your business, and you’ll hear them say: diversify, expand the product line, or combine with or acquire other companies. No doubt, these are all solid ideas.
Sustainability can help fuel long-term growth. But it often goes unnoticed in the growth conversation. Don’t you make that mistake. When sustainability is the topic of discussion everywhere, it’s not something your business can afford to treat as an afterthought.
So, if you’re looking for ways to invigorate your business growth, it’s time to make sustainability a central focus. Here are a few sustainability strategies that can actually invigorate your business growth.
#1 Embrace circular thinking, not just linear processes
The traditional way of doing things is often linear. It involves extracting raw materials, producing goods, and disposing of them. This model creates a lot of waste, however. It also quickly depletes Earth’s resources.
The alternative to this linear process is circular thinking. It’s a system where resources are kept in use for as long as possible. This reduces pollution and our reliance on extracting more raw materials.
Thinking in a circular way can bring some serious benefits to your business growth. One of the big ones is cost reduction. When you use fewer new resources, you naturally save money.
Relying more on recycled materials can lead to increased supply security. You become less dependent on the supply of those limited raw materials that might be harder to get in the future. This makes your supply chain more stable and reliable.
Many brands have already put circular thinking into action. Patagonia’s “Worn Wear” program is a perfect illustration of this. It offers customers repair services for damaged clothes as well as store credit for trade-ins of used gear. This way it prolongs the lifespan of its clothing and minimizes waste.
#2 Switch to renewable energy sources
Traditional ways of getting energy, like burning coal and gas, are causing problems for the environment and contributing to climate change. But there’s a better way: renewable energy. This kind of energy comes from sources that naturally replenish themselves, like the sun, the wind, and flowing water. Making the switch to renewables can help create a cleaner planet for everyone.
Installing solar panels or purchasing wind-generated electricity can reduce your energy bills over time and protect you from price volatility.Green hydrogen is also an excellent alternative to fossil fuels. As it produces only water vapor as a by-product, it can decarbonize hard-to-electrify sectors of transportation.
However, cost and storage hinder the widespread adoption of green hydrogen. While it’s currently more expensive than conventional grey hydrogen produced from fossil fuels, its cost is decreasing rapidly. As far as storage is concerned, H2MOF notes that hydrogen is challenging to store in a safe and efficient way because it’s the lightest element.
Novel nanomaterials such as metal-organic frameworks (MOFs), though, provide a solution. This solid hydrogen storage technology can store the gas in solid state, at ambient temperature and pressures as low as 20 bar.
#3 Use energy efficiency as a stealth profit strategy
Do you know that commercial electricity costs have risen by approximately 22% since 2020?
The energy consumption of lights, heating, cooling, computers, and machinery collectively results in substantial expenses. And if you’re not careful, a lot of that energy can go to waste.
Wasted energy has significant environmental repercussions that go far beyond just financial losses. Most notably, it contributes to increased greenhouse gas emissions.
Fortunately, you can often implement straightforward measures to improve your energy efficiency.
Swap old, inefficient appliances, computers, or machinery for energy-saving models. Look for the Energy Star label when you’re shopping for new equipment. When it comes to lighting, switching to LEDs is a no-brainer. They last way longer than traditional bulbs and use a fraction of the energy.
Don’t forget about your heating and cooling systems. Make sure they are well-maintained. Also, use smart thermostats as they can adjust the temperature based on occupancy and time of day. Seal up any drafts around windows and doors to prevent energy loss.
Going green is good for the planet and great for your business
Sustainability isn’t a cost center anymore. It’s a growth strategy if you’re willing to think differently. It helps guide your business toward long-term success, resilience, and relevance.
Will it take effort? Yes. Will it sometimes feel like you’re pushing a boulder uphill? Absolutely.
But if done right, it won’t be a tradeoff but a growth lever. It sharpens your operations, strengthens your brand, and brings customers and partners into your vision.
All in all, it’s a win for your bottom line and a win for the planet.
