06 Apr ‘The Triple Bottom Line’
🛍️Recent discussions with retailers has lead me to investigate how a business can ‘Lead with their Values’, ‘Sustainability’ and the ‘Future of Retail Businesses’, particularly Future Trends in Retail, with the purpose of growing and in some cases protecting the ‘Bottom Line.’
Now businesses need to consider the “Triple Bottom Line.”
Profit, People, Planet = Triple Bottom Line
Build a business that has a positive impact on your community, city and the world.♻️
Sustainability has become a very popular word. Sustainability can be interpreted as an economic resource or an ecological one. So let me explain what the “triple bottom line” means and how as a business owner you can keep an eye on your “bottom line.”
Starts with Profit, a business needs Financial discipline and needs Cash Flow.
Can you sustain your business ‘put your oxygen mask on first before you help other passengers on the plane’?✈️
It can’t have a positive impact unless you can survive.💶
✅The 101 of finance…. need to learn to grow a sustainable business that you can make money in.
It starts with people to treat them with respect and grow a business with them. This means in an inverted pyramid put the customer at the top CEO/Owner at the bottom and team of staff in the middle.
Serve your Team well, you could have one staff member, two or 10,000, who support the business, (teach them well and nurture the culture they operate in, and in turn, they will ‘serve’ your customers well.
The planet, as a business we try to minimize the negative impact on the planet, and now there is more awareness and attention on saving the Planet. Conscious citizens: as consumers are shopping their values more.
Retailers are now showing their mindful engagement and are more transparent and aware of what is important to the customer, and now are sustainability-focused.♻️✅
💯In conclusion, it’s all down to the values you hold, as you are the embodiment of your own personal brand and the business you represent. Don’t put your values on the shelf when you go to work, ‘talk the talk, and walk the walk’.📈