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Tips to Save Small Business Owners Money

Your business — and the hundreds of other small businesses— can make an enormous impact on the environment through sustainable initiatives. But how do you “do good” without sacrificing the bottom line?

Many companies have found cost savings by looking into conservation strategies. For example, Wal-mart estimates it will save $7 million annually on electricity by replacing incandescent light bulbs in its stores with super efficient compact fluorescent light bulbs.
Learning by the examples of businesses both large and small, while following simple steps aimed at reducing your company’s environmental impact, can set you on a path to saving money and saving the planet.

There are several ways that being green positively affects your bottom line.

Creating Interest and Loyalty
Employing greener practices in your place of business creates interest and loyalty from your consumers, investors, and your own employees.

Showcasing Your Sustainable Efforts
Let people know about your socially responsible services. This is one marketing opportunity that small businesses can easily take advantage of.  A company with a positive reputation often has the competitive edge.

Offsetting Climbing Energy Costs
The money saved on operating costs adds directly to the bottom line, so saving 20 percent on energy operating costs through no-cost, low-cost and investment energy improvements can increase your profit as much as one-third.

Tips to Get You Started
  • Set goals — Identify your purpose, whether your goal is to cut costs or to be environmentally responsible, or both.
  • Watch the bottom line —Implementing sustainable practices that provide no return on investment are not practical or wise.
  • Start small — Look at reducing energy, even if it’s as simple as unplugging appliances while not in use. Switch to CFL or LED lighting and then progress to purchasing energy-saving appliances.
  • Look upstream — Find sustainable suppliers and sourcing. Know the environmental impact all your sources have on your business.
  • Look downstream —Examine your waste stream. Look for ways to reduce, reuse and recycle.
  • Build green — Implement green building practices.
  • Invest in people — Investing in the community and your own employees is an essential component to sustainability.
  • Learn more – Join and support sustainable organizations and attend their education events.
  • Tell others—Share your story with customers so they know not only where your products originate, but also why they should buy your product over others, especially if it costs more.
  • Avoid “Green Washing” —Part of being profitable while being green for small businesses is gaining a loyal customer base and creating interest. It is easy for consumers today to be skeptical of all of the “green” talk that is going on.

Summary of an online article ‘Sustainable Tips to Save Small Business Owners Money’ by Catherine Corley. The full article can be found at:

http://www.environmentalleader.com/2009/11/16/sustainable-tips-to-save-small-business-owners-money/
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