Green growth: How CRMs boost sustainability in small businesses
Posted: Wed Dec 04, 2024 8:37 am
It's always a good time to discuss and celebrate the resilience and innovation that small businesses bring to the table.
Small businesses and their human capital are the cornerstone of global economic well-being. According to a recent report by TV Azteca , they represent 90% of all existing companies and are responsible for 50% of the GDP of the entire planet.
They also represent a highly competitive space with economic development challenges: building brand awareness and gaining consumer trust , while competing for market share, funding, and better human resources. More than 20% fail within their first twelve months and half within five years. About 65% of for-profit small businesses do not make it to ten years.
What are the 35% of companies that manage to celebrate their 10th anniversary doing? There is no magic formula, but anticipating and adapting to the consumer mindset, and doing so quickly, are often the foundation of financial well-being.
The title of Jason Jennings and Laurence Haughton's bestseller says it all:
It's not the big ones that eat the small ones... it's the fast ones that eat the slow ones.
They challenge the conventional wisdom that big overseas chinese in canada data business is an unbeatable model of development thanks to its superior material resources. They argue that while leveraging resources in projects certainly helps, speed is key, and that is where big business fails to easily generate action lines. They tend to be slower to react and respond to emerging trends and changes in the consumer landscape of future generations, and more conservative in their approach to their social impact. It's true: it's harder to turn around an oil tanker than a canoe.
The shift towards sustainability
One of the most significant changes in recent years is the search for sustainable development. Consumers have decided that environmental sustainability is a key aspect of their decision-making process when purchasing products. In PwC's CSRD 2024 Global Survey , 75% of companies said they are incorporating or plan to incorporate sustainability to a greater extent in decision-making, making it clear that future generations will see a product portfolio produced under a concept of sustainability and environmental policy that is friendly to natural resources.
That is why it is necessary for your company to increase its level of commitment to the sustainability of the planet if it has not done so yet, and if you have already implemented environmental sustainability programs, continue innovating on that path of deep-rooted commitment.
The biggest areas of opportunity may vary from industry to industry, but one common under-exploited area is the use of a CRM .
Small businesses and their human capital are the cornerstone of global economic well-being. According to a recent report by TV Azteca , they represent 90% of all existing companies and are responsible for 50% of the GDP of the entire planet.
They also represent a highly competitive space with economic development challenges: building brand awareness and gaining consumer trust , while competing for market share, funding, and better human resources. More than 20% fail within their first twelve months and half within five years. About 65% of for-profit small businesses do not make it to ten years.
What are the 35% of companies that manage to celebrate their 10th anniversary doing? There is no magic formula, but anticipating and adapting to the consumer mindset, and doing so quickly, are often the foundation of financial well-being.
The title of Jason Jennings and Laurence Haughton's bestseller says it all:
It's not the big ones that eat the small ones... it's the fast ones that eat the slow ones.
They challenge the conventional wisdom that big overseas chinese in canada data business is an unbeatable model of development thanks to its superior material resources. They argue that while leveraging resources in projects certainly helps, speed is key, and that is where big business fails to easily generate action lines. They tend to be slower to react and respond to emerging trends and changes in the consumer landscape of future generations, and more conservative in their approach to their social impact. It's true: it's harder to turn around an oil tanker than a canoe.
The shift towards sustainability
One of the most significant changes in recent years is the search for sustainable development. Consumers have decided that environmental sustainability is a key aspect of their decision-making process when purchasing products. In PwC's CSRD 2024 Global Survey , 75% of companies said they are incorporating or plan to incorporate sustainability to a greater extent in decision-making, making it clear that future generations will see a product portfolio produced under a concept of sustainability and environmental policy that is friendly to natural resources.
That is why it is necessary for your company to increase its level of commitment to the sustainability of the planet if it has not done so yet, and if you have already implemented environmental sustainability programs, continue innovating on that path of deep-rooted commitment.
The biggest areas of opportunity may vary from industry to industry, but one common under-exploited area is the use of a CRM .