Creating a Sustainable Business

A single spouse working may no longer sufficient to sustain the needs of the family. Therefore, husbands are now more comfortable letting their wives help them in making sure that they are able to provide for the needs of their family.

We have the option to either be employed or to start our own business. However, not all people may want to be working under a boss. Therefore, creating a business may just be the best solution to earn more money.

For a time, I believed that putting up a business was just meant for some people. I was focusing more on the financial capability of a person who is able to start his own business. But then, of course, one puts up a business because he wants to earn more money. And while money may be a factor, still, there are ways on how to start a business if you just put your heart and mind into it.

Unfortunately, while there may be so many aspiring entrepreneurs, they fail to understand a deeper understanding of creating a sustainable business. This results in loss of finances and all works and efforts flushed down the drain.

I grew up seeing both my parents working in an office. And not until I got married whose parents were both into business, did I realize that creating a business is something that is possible for as long as you learn how to get things done and be able to choose the right kind of business that truly matches your personality.

In this article, I would like to share with you how you can be able to start your own business and be able to pass it on to your children, even to your children’s children.

What is a Sustainable Business?

Once you have decided that you want to out up your own business, remember that you are not creating a business that should only last for a few months. Make your business as something as valuable to your family. Remember that while an employee may have a salary that he expects every end of the month, an entrepreneur may gain invariable profits which depend on how he established his business. So, which would you want to be?

A sustainable business is a kind of business whose purpose is equally grounded financially, environmentally, and has social concerns. Now, some may see these things as something that is easily doable, well, think again. The road to a sustainable business is a bumpy road. And not unless you go through those bumps will you be able to survive your business.

Here are six possible ways that will help the entrepreneur build a more sustainable business for the future:

1. Build your business according to your principle.

When you think of building your own business, it should revolve around your core beliefs which helps strengthen your business and at the same time adding value to it. However, if your beliefs are a bit too specific, this may affect how your business, therefore, you must localize your business in such a way that many would be encouraged to check you out, rather be discouraged because your business spells out a different tune that could just scare people away.

2. Standing your ground and yet having the ability to embrace change.

How do you think Henry Sy, Sr was able to reach where he is now? We still know the same SM malls that we have all grown up with, however, he managed to diversify his business and still able to capture the hearts of so many Filipinos. He just used to have the Carriedo branch selling shoes. But after some time, he built malls in almost all of the Philippines.

His move to make some changes in his business was his way on how he can be able to cope up with the changing times. The needs of the people change – they want to have a place where they can be able to shop everything they need without having to go anywhere else.

3. Creating value for your customers.

It is never enough to just build a business and let it grown on its own. It takes time and a little work for a business to become successful. The value you put on your products and services isn’t just about how much it costs, but more on giving importance to the needs of the people by providing them the best quality of products and services that you can that is worth the money that people pays.

4. You can never be too comfortable once you have seen your business grow.

You may be too proud to see that you have seen your business grow after some time. But, your work doesn’t stop…ever. Building a business is a continuous process wherein your goal is to continuously improve what you offer and created excellent marketing strategies that can lead to a huge number of loyal customers. Remember that your satisfied customers will be your walking advertisement. Therefore, you need to put an extra effort in maintaining the quality of products and services that you provide.

5. Focus on one area to excel.

You may be all hyped to offer various products and services, thinking that the more that you can offer, the more people will be coming to you. However, you must build your brand in such a way that people would immediately think of you when they need a specific product or service. Having to deal with so many different things all at the same time may just become a huge failure later on.

6. Never tire to reinvent your business.

How many times have you seen a particular business recreate themselves over the years and still managed to be on the top? Reinventing your business does not only mean having to diversify your business, but it also means having to create your business in a way that goes with time. This would mean having to rebrand your business.

Mainly because the audience is changing, this is your way of putting yourself in that same spot by reinventing and innovating your business. Rebranding is a way in which a new name, symbol, design, or catchphrase is created for an established brand with the intention of creating a new identity. 

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Take for example FedEx. Back in the early 90’s, FedEx offered various services that used different names. But after a year of research, they found that it would be more effective to use a single name to identify all the services that they provide. And so, they just stick to the name FedEx.

Building a business is indeed a lot of work. But just think about how much more it could give you or how much it can help your family. If you build it right, you may even no longer feel the need for your spouse to become employed. But rather, you can have your spouse help you strengthen your business and someday, let your children learn how to run it on their own.

Photo by bruce mars from Pexels

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