PROFITABILITY
BRANDON GLICKSTEIN
Co-Founder & Integrator at Monster Lead Group
HOW SUSTAINABILITY CAN
HELP WITH BUSINESS PROFITABILITY
The traditional reason for running a business has been to make a profit. However, a recent push to recognize the impact of environmental, social, and governance (ESG) aspects means there’s a place for sustainability in business too.
Furthermore, investors are starting to pay attention too, with many taking a keen interest in funding start-ups and organizations that have sustainability as a key focus.
So, how do entrepreneurs incorporate sustainability into everyday business life?
REBALANCE YOUR GOALS
Most businesses exist to achieve certain goals, from which profitability is a result. Incorporating ESG doesn’t necessarily mean a change of goals but rather a “refining” of these objectives to highlight sustainability initiatives that are just as important as profits. For entrepreneurs, it means figuring out how normal business operations can have a social impact.
HAVE A PLAN
A simple way of seeing the common areas where profits and sustainability play a role can be illustrated by draw-
ing a Venn diagram with two circles representing these aspects. As you highlight where certain initiatives fall within these two areas, the overlap section represents where earning a profit can be achieved through sustainable efforts.
WORK WITH EXPERTS
In many cases, achieving sustainability requires a concerted effort. Whether businesses decide to create a dedicated in-house team or ask for help from external professionals, experts should be put in place for any meaningful forward progress to be made.
In many cases, achieving sustainability requires a concerted effort. Whether businesses decide to create a dedicated in-house team or ask for help from external professionals, experts should be put in place for any meaningful forward progress to be made.
A simple way of seeing the common areas where profits and sustainability play a role can be illustrated by drawing a Venn diagram with two circles representing these aspects.