Before you can think about retiring early, you need to make enough money to survive your golden years. For this to happen, the business must turnover as much profit as possible and keep investing. However, a company which stagnates isn’t going to have this impact. If anything, it will go backward and the chances of retiring to Aruba with a cocktail in hand will fade out of view.
Stagnating companies need a way to revive their fortunes and boost the brand. In this day and age, the best tactic is to save the planet. Far from costing the firm money, it will make it a small fortune and here’s how.
Ways Saving The Planet Can Revive Your Business
Progressive Customers
Once upon a time, the only thing customers cared about was getting the right product at a low price. Today, the tide has changed because people care about their actions. No one wants an item, regardless of the quality, which makes them feel bad inside. They’d rather pay more for an eco-friendly option and walk away with a warm glow in their stomachs. In short, helping the earth gives the new-age shopper an excuse to invest in your brand. Otherwise, they’ll opt for a competitor that recycles and sponsors green events.
Reputation
If a large or dedicated base of people doesn’t know who you are, then the business will backslide. Your reputation is everything in this industry, which is why it’s vital that you keep it in mind at every turn. Take a virtual PO Box for instance. Hiring a “fake” address makes a SME business seem as if it’s a huge firm in a lucrative part of town. As a result, the correct internet mail forwarding company can provide your street cred with a shot of adrenaline. What’s green about this? Well, there is no need to deal in paper because your mail is scanned and sent to your account via email. You’re paperless and they recycle every piece of dead tree for the good of Mother Nature.
Price Bump
Because saving the planet means a lot to them, shoppers will go out of their way to buy eco-friendly products. And, the price doesn’t matter too much. They won’t splash out a small fortune yet they will pay a little extra for the right item. Funnily enough, this applies to baby boomers as much as it does millennials and Generation X. Indeed, everyone has jumped on the bandwagon to the point where people’s’ willingness to pay for sustainable products has risen by 16%.
Cost Cutting
Although it’s obvious, it would be remiss not to mention the savings companies can experience. Removing the printer from the office can accumulate as much as $75 per month. Over a year, this equates to $900 which is a significant chunk of money. And, that’s only for the printer itself and the paper expenses. Once you think about the electricity costs, then the figure will reach closer to the $1,500 to $2,000 mark.
How did you feel about Mother Nature before? And how do you think about Her now?