Written by Lisa Walker
According to research, 66% of customers are inclined towards paying more for sustainable products. This trend can be attributed to the recent uptake of eco-friendly behavior among people across the world. Additionally, customers prefer to spend their money on businesses that rely on sustainable practices and contribute towards battling environmental problems. For budding entrepreneurs, now is the perfect time to start a green, sustainable business and this article on Steps of Impact brings you the blueprint to do just that!
Your Sustainable Business
1. Choose What to Sell
As reported by Climate Action, online searches regarding sustainable goods have increased 71% in the last five years. As a new business, you have a plethora of products and services to choose from such as:
- Selling eco-friendly products such as soap, clothing, furniture, and more,
- Operating a sustainable meal prep service,
- Green housekeeping,
- Organic catering,
- Eco-friendly landscaping.
Before making a final decision on your sustainable business idea, conduct thorough research regarding the demand for your proposed product, the size of your niche, and supply chain logistics.
2. Price Your Product Well
Green businesses often face the difficulty of initial high operation costs. But, this can be covered by choosing the optimum price for your product/service. Even though customers are open to paying more for eco-friendly goods, you need to set competitive prices in line with the industry standards. Implementing this into your sustainable business involves conducting market analysis and competitor research.
3. Involve the Community
As an ecopreneur, one of your goals should be to make a positive impact in your local community. This can be done in the following ways:
- Partnering with NGOs dedicated to tackling environmental issues and providing support through volunteering or donations.
- Host periodic green initiatives such as beach clean-ups, sapling plantations, and more.
- Conduct educational programs to educate customers about green practices that can help reduce their carbon footprint.
4. Spread Your Message
33% of customers use social media to find new products to buy. To develop a loyal following of customers, consistently showcase your commitment towards sustainability by:
- Creating videos of your manufacturing process,
- Sharing positive customer reviews,
- Promoting ongoing green initiatives started by your business.
In addition, consider creating a DBA (doing business as) name for your business, which allows you to sell your products under a brand name your customers will remember and engage with.
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With this knowledge at your disposal, all that’s left is for you to take the leap and launch your sustainable business. One step at a time makes the impact!
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