Explore:  Basics of Business Sustainability

To understand long- term sustainability you must understand the basics of business sustainability. This is what it takes to sustain your business now. Once that is established, a business can plan for the long-term. Watch the following video.

What is Business Sustainability? - 2:30




13 Steps to Create Long-Term Sustainability


1. Ask the question of “Where are we now?”

Write a brief paragraph describing the current status of the business. Look at total income, net profit, number of products, staff, and customers served as well as media indicators (Social media, website hits, etc.)

2. Ask “Where we hope to be in one year.”
This will help you prioritize your objectives. It will also lead to setting up a five year plan. This will help you do a simple SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats).

3. Brainstorm Solutions to each problem.
Consider every problem you could face in the coming years. Perhaps you need to consider a product or service that can outpace the competitor or updating the packaging or store décor to appeal to your target market more.

4. Make a Timeline
Prepare a visual calendar with important dates to your business and national holidays. Be sure to develop and incorporate target dates or objectives and the steps needed to get there. Doing this will help your company be organized and prepare for the years to come. This is important to insure that your company is on the right track for the years to come. 

5. Prioritize, Delegate, Execute
No matter your number of employees, list the importance of each task, assign it to someone and insure that it gets done. This will allow your business to  get all tasks done in a timely manner and keep your projects on track and not behind so that you can go accomplish new goals and innovations.

6.  Keep your profits in perspective
Use your profits to pay debt, your team, and to create new products and services. The main priority is to set funds aside for future times when the funds are running low. It will happen, no matter how you plan.

7. Increase sales from your current customers
If you already have a captured audience-use them. Make your current customers even more loyal with discounts for repeat purchases, loyalty programs, and letting loyal, repeat customers know of new products first. Don’t focus on the new customers as much. Shift your attention to the loyal shoppers.

8. Don’t reinvent the wheel. 
Expand your brand. Do not limit yourself. Think of new and innovative ideas.

9. Value every relationship.
Every person you meet is important. They could be your mentor, future customer, advocate or funder. Treat them with respect and try different angles with each person.

10. Don’t hire someone if you don’t understand what they do.
Before you hire someone make sure you fully understand their job title and what they will be doing for your company. This is essential to ensuring that every position will prosper and grow alongside your mission and values.

11. Build mentor relationships.
The best ones you will have are with fellow entrepreneurs. They will help your prosper, learn and grow. They do not make decisions, they just offer insight and guidance.

12. Never stop innovating.
The world is always changing and your business must as well. Customers want to have new products with the current times. Make innovation a job requirement whether it is the efficiency of how they do their job, or a new direction for the business.

13. Make your business somewhere exciting to be. 
You will rely on your staff. Make sure they are happy in the workplace. Involve them in decisions as much as possible, be open to their ideas, and be flexible with their time. This will provide motivation to your employees.


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