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How to Implement A Positive and Profitable Business Philosophy

By: SmallBizClub

 

outsourcing

One of the most extraordinary things about being a small business owner is deciding what is a priority to your workflow and what things are of value to you as an organization. 

For example, you could be in the restaurant hospitality industry but choose to take a green, eco-friendly approach to all aspects of your business.  That means your packaging is eco-friendly and combustible and one that does not use harsh chemicals. Instead, choose to use only environmentally friendly cleaners. 

Again, suppose something like sustainability and “going green” is an essential value to you as an owner.

In that case, you can decide for your business to focus on more green initiatives and policies within your operation.  And there’s a moral cost and a business cost that rewards making a values-based proposition like “going green.” For a small business philosophy focused on sustainability, you can save money on everything from paper products to energy costs, labor costs, and even lease fees. 

Case in point, if you institute a policy of employees working asynchronous hours and able to work from home, you can significantly cut down on rental space, insurance, and energy costs.  Of course, this strategy may not work for all industries, but find a creative way to limit your office’s carbon footprint created and required from your employees. 

The values compass you decide upon as an owner will find a footprint in all aspects of your business operations, making your business more attractive to like-minded customers as well. 

If your company values sustainability, let’s examine how instituting that philosophy is possible and profitable. 

Internal Ways To Make Your Business Sustainable

  • Focus on energy conservation, including changing to energy-friendly light bulbs
  • Setting the internal temperature of the office to 70 degrees
  • Enabling sleep mode on appliances and devices
  • Installing energy-efficient appliances 
  • For the common area, eliminate “throw-away” cutlery, plates, and napkins
  • Eliminate K-cup single-use coffee pods
  • Buy snacks and other foods in bulk, not individually wrapped
  • Encourage employees to bring their own lunches and snacks
  • Install green energy alternatives such as solar

By instituting a green approach within the walls of your operation, you can save money from unnecessary, wasteful spending. 

External Ways To Improve Your Businesses Sustainability 

In addition to cutting back on waste in the office, there are external ways to encourage conservation outside of the office that will also benefit your small business’s bottom line. 

One way to implement your value proposition while also growing your brand is to find collaborations and partnerships with like-minded organizations. By working together, you’re increasing the sphere of contact each brand has and creating a better public perception at the same time. 

But to implement a green strategy outside of the office, you need to be creative.  For example, you can incentivize your employees to find alternatives to driving to the office. From encouraging biking to work, utilizing a carshare, or taking public transportation, your leadership and the type of incentives you offer will encourage your employees to take a more hands-on approach. 

Another fundamental way to implement your green philosophy is by offering hybrid or remote work when possible to limit the number of employees driving to your location. This will lower the total amount of energy resources used, and allowing you to cut back on office space. 

Outsourcing is a great way to implement a green philosophy while being cost-effective at the same time. The benefits of outsourcing allow your business some agility and flexibility in your operations and find cost-effective ways for essential functions to continue. 

For example, outsourcing your bookkeeping helps lower your overall payroll size and the space needed to house those services. Additionally, hiring outside services allows you to get more experienced services without the costly training needed for that expertise. 

If you’re in the retail industry, handling the logistics of those orders requires people to prepare, receive, ship, track, invoice, and collect. Instead, you can hire someone or purchase a parcel audit software to streamline much of the logistics for your fulfillment needs. 

Other departments to consider outsourcing are your marketing, customer services, and H.R. You can hire specialists to focus on your brand’s specific needs and utilize their expertise in creative ways by outsourcing your marketing. It’s the whole reason there are marketing firms out there. They are specialists in branding, lead generation, and customer acquisition. 

You can improve your customer service department exponentially more than if you had one in-house by outsourcing it. The benefit to a small business is the flexibility to adapt and shift toward value propositions that make sense for the company’s culture and ownership philosophy. 

What’s more, there are tax incentives and profits to be made by being a conscientious business. One other hidden benefit is that outsourcing is the access to expertise that may not have been affordable with in-house talent.

Published: May 25, 2022
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SmallBizClub.com is dedicated to providing small businesses and entrepreneurs the information and resources they need to start, run, and grow their businesses. The publication was founded by successful entrepreneur and NFL Hall of Fame QB Fran Tarkenton. We bring you the most insightful thinking from industry leaders, veteran business owners, and fellow entrepreneurs. Follow us on Facebook, Twitter, and LinkedIn.

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