5 Ways That Going Green Costs the Bottom Line

I’ve spoken with many small business that are interested in going green and implementing sustainable business practices and want to start but have been told that it costs too much or it’s too hard, etc….

I’ve even, surprisingly, seen articles that state that going green costs the bottom line. If you aren’t familiar with going green or environmental sustainability and don’t know how to implement it strategically, this could be the case.  That being said, the reality is that businesses must evolve and change with the marketplace – and going green is now increasingly expected of small as well as large businesses.

The cost of not going green increases the likelihood that the business will not be financially sustainable in the long term. So the cost of not changing, in the long run, can be much higher than the cost of taking action now.

Let’s go through five potential costs and address them one by one:

1. Cost of conversion: Making the decision to go green, if you are a small business, can be as straight-forward as having a conversation with your colleagues or staff at a regular staff meeting and getting their input, or if you are a solopreneur, getting started. While hiring a consultant is certainly an option – and a costly one at that, in many cases, your business can get started with small steps that don’t cost much – or anything at all – and take little time. I’ll address a list of potential starter projects later on below.

2. Cost of recycling: Adding recycling to your business if you’re not already doing it can seem daunting and expensive. There is the potential cost of switching companies, and the cost of buying containers. The reality is that recycling is increasingly being mandated, even with China’s ban on imported recyclables. If your business is not recycling and it is not required by law, it is a matter of time before that regulation is put in place, and with it fines for not doing it. In addition, the cost of waste disposal is going up as space in landfills is decreasing, so adding recycling and reducing the frequency of waste pickups can result in neutral costs.

3. Cost of keeping customers: Some of your current customers may raise an eyebrow at a greener service or product, but going green doesn’t mean necessarily upgrading your existing products or services – at least not right away. The reality is that the market for environmentally sustainable goods is growing. In particular, certain demographics - namely the millennials and Gen Zers - prefer to spend their dollars with companies that are taking actions to support the planet and the community. The question to ask yourself and your colleagues is – does it make sense to miss out on that market in order to keep your existing customers? Not to mention that it is highly likely that a large percentage of your existing customers also care – and if you are current with your customers’ preferences, you likely are aware of that.

4. Cost of education: Businesses must certainly educate themselves about the different aspects of going green, and the learning curve can be steep when looking to implement certain sustainable practices, for sure. In addition, getting others on board can take time and be an ongoing process. That being said, there are many resources available that walk you through how to get started, and many projects do not require a steep learning curve – see some examples at the end of this article. In addition, if going green is incorporated into regular communications and organizational processes, the added effort to educate colleagues and encouraging them to take green actions is relatively minimal.

5. Cost of marketing: Once your organization has taken steps to go green and is ready to share those steps with the outside world, it is time to look at how to share that message. The argument has been made that going green costs marketing dollars which might be taken from existing campaigns. The reality is that if campaigns are planned correctly, this messaging can be put in the pipeline ahead of time, and can be budgeted as with any other marketing campaign.

Bottom line is – investing in going green now will pay dividends in the short and long term for your business.

If you’re thinking about getting started with going green, check out our

FREE Beginner’s Guide to Creatively Grow Sales by Going Green, which lists over 50 low-cost projects and resources to get started.