Make Small Changes to Improve Your Company’s Environmental Impact

by Kenbry Capital | Oct 13, 2022 | Blog

Business owners looking to improve their market share should recognize that brand reputation is as important as customer retention. Today’s customer demands that businesses respond to needs in the local community and globally. Adding eco-friendly business strategies can help you improve your business’ reputation. In addition, many modifications are inexpensive but have a big impact. Even employees have a more positive experience working for companies that strive to improve the environment. Here are some ways you can make your business more environmentally friendly.

Vet Vendors

Work with vendors that are Fair Trade Certified or are working toward certification. You can also ask suppliers to participate in specific green trade practices. Following are some policies that indicate a company acts responsibly:

• Pay employees a fair wage
• Eco-friendly manufacturing practices
• Source local and sustainable raw materials
• Use biodegradable, recyclable, or renewable materials in packaging

Create a Green Team

Ask employee volunteers to develop eco-friendly business strategies. Even small changes, such as removing disposable kitchen products, can have a large impact. All employees should be able to suggest ways to improve your company’s environmental footprint. Asking employees to create solutions increases their commitment to change.

Recreate Marketing Materials

When reordering marketing materials, try to make each product more sustainable than the last. A wheat straw coffee mug with your logo will be used longer than a mouse pad. Select tote bags that are a functional size, and customers are more likely to use them. Look for products made from sustainable materials – bamboo lip balm, recycled fleece blankets, or recycled paper journals. Take business gifting to the next level by making a cash donation to your preferred non-profit in honor of your customer. Send a simple holiday card with a note explaining the donation.

Reduce Paper

Send electronic invoices, rather than mailing paper bills. You can also save on paper and mailing costs by accepting electronic payments. They are typically less expensive to process, and you receive your funds faster. Many businesses offer discounts to customers that pay this way.

Redesign Packaging

Eco-friendly business design starts with eco-friendly packaging. Compostable packaging allows the end-user to place the item in their compost bin. Use plastics made of a single material to make it easier to recycle. Branded reusable bags can leave a positive impact on your company and the environment.

Taking the time to improve your environmental footprint benefits your business on multiple levels.

Learn More About Financial Modeling To Help Your Small Business Grow

by Kenbry Capital | Oct 6, 2022 | Blog

The structure of your small business will play a big part in your overall success. When the time comes to pursue growth opportunities, for example, you will need to be able to rely on your organizational abilities. This means taking time to develop an airtight process for financial modeling. Typically, this process involves creating an abstract example of your company’s finances and the overall performance of your business in a fiscal sense. Take a look at these points and learn more about successfully modeling your finances.  

Keep Things Simple

Right away, you want to make sure that you don’t overcomplicate the process of modeling your finances. Though there might be a number of vital moving parts involved when it comes to your company’s budget, you will find that being straightforward and simple when creating your model 

is the most effective step. Practice transparency as well, ensuring that no key data is left out of the model because you are worried about how it will impact how your brand is perceived. Simplicity and transparency can make for a solid system of modeling. 

Be Consistent

Another important point to keep in mind when it comes to financial modeling is consistency. Balancing a budget can be tricky, especially when there are countless factors involved. Though you might want to try a range of formulas in your attempt to create a thorough model, you will discover that consistency helps a lot more than variety. When you use certain formulas in an even way, it makes it much easier for you to track and verify your results later. Use too many variables, however, and it can make the entire process too difficult to complete. 

Consider the Layout

Since most business owners use a program like Excel to model their finances, it makes sense that you want to be familiar with how the software performs before you dive into the process. The layout of the model will play a big part in how you feel about its success. Take time to look over examples of different financial models from companies of your size. Doing this will offer greater insight into the expectations of the model’s layout, as well as provide you with a simple template that you can then work from. 

While there are countless processes involved with running a successful business, you never want to overlook matters related to your cash flow. Take time to learn more about financial modeling and see how you can gain perspective on your company’s budget. If you would like to explore financing solutions for your business, reach out to the team at Kenbry Capital LLC today.