5 Ways to Make More Money While Helping the Environment

More and more, companies and consumers are becoming conscious of their carbon footprint and the impact that they have on the environment. Businesses who fail to implement green policies may be looked upon as greedy, uncaring capitalists. The good news is that there are strategies for creating environmentally friendly policies which can also improve your bottom line. Here are 10 tips to help the environment and to help your business make more money.

1. Recycle Yeah, the most obvious tip. If you recycle your material rather than throwing it away, you can either resell it to other businesses, or reuse it to create more products. In this way, you can turn an expense (waste disposal) into an income stream. You can also encourage your customers to recycle while you reap the benefits. If your old products contain components that you can reuse in your new products, you might offer your customers a discount if they exchange in a previous model for a new model. This saves you money on your commodity costs, gives your customers some savings, and encourages them to be loyal to your brand.

2. Casual Friday – Why not every day? This can be a money saver particularly in the summer months. If you encourage your employees to ditch the tie and suits in favor of more casual wear, you won’t need to keep the thermostat so low to keep everyone comfortable. Explain the reasoning to your employees – they’ll be more comfortable, and the business will save money.

3. Let your employees work from home This may not apply to every employee and every business, but why not let your employees work from home? The savings here are twofold: the employee saves time and money from his commute, and your business saves on real estate costs and the costs of maintaining an extra office.

4. Reusable bags If you own a retail store, there are many strategies to encourage your customers to use reusable bags rather than wasting plastic bags. You might give a reusable bag away for free if the customer makes a $100 purchase. You can also designate that the bags act as a permanent coupon of 5% off all purchases. This saves money, helps the environment, encourages customer loyalty, and spurs more consumer spending.

5. Seek business deals with green companies You might approach a green company like a local organic grocery store or an electric car dealer and ask to strike an exclusive deal with them for your employees. Your employees may be able to get a discount at these green businesses. Those businesses will love it because they get so much additional business. Your employees will be happier and greener, and you’ll earn a deserved reputation for a business that cares for the environment.

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