Growing a Green Business
If you’re both entrepreneurially minded and environmentally conscious, you might be looking for opportunities to build a business model that simultaneously benefits the planet. Here are some ways to get started, courtesy of Concept Marketing Group!
What Can You Do?
It’s not enough for a business to be based on sustainability principles - it should also be something you have an interest in and have the skills to make it profitable.
● What are your skill sets? Your educational background? Your personal and professional interests? Make an honest assessment before settling on a business model.
● Is there a market for what you plan to create, sell, or promote? Advanced market research is an essential pre-planning step.
● What’s your competition? It’s important to see if others are doing the same things, and if they are, what you can do to differentiate yourself.
● You should also plan for the unfortunate case of customers not providing payment on time. You can assign late fees and set up payment plans. An invoice maker can really help as well, both in terms of clear communication with customers and your own record-keeping!
Develop Your Business Strategy
Once you narrow your focus and have an idea of what kind of business you want to launch, consider the legalities you’ll need to attend to.
● Get a business license and any special use permits and insurance you’ll need and establish your business entity.
● Consider a DBA (doing business as) name for branding purposes.
● Write a comprehensive business plan and marketing strategy - this is an important first step if you need to apply for a business loan.
● Open a business bank account, outline an operating budget, and make decisions about business location and staffing.
Make It Green
There are a number of ways to “green” your business, depending on your motivation, your objectives, and your resources.
● Develop a business that helps the environment, promotes or advances sustainability initiatives, or has conservation at the forefront.
● Use all-natural products in everything you do, from production to packaging.
● Reuse, recycle, repurpose, and promote. Let customers know you’re a green business - your products or services may cost more, and customers should know there’s a good reason.
Marketing your green business should include an awareness campaign, not just to highlight what you are doing, but why you’re doing it, and how it benefits the Earth. This is a great way to educate others and attract them to your movement.
Concept Marketing Group provides the necessary tools to implement these strategies, work with you to adjust the marketing program as needed, and most importantly, stay on track to achieve your business goals. Call 800-575-5369.