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How to Create a Sustainable Business Model

A sustainable business benefits your customers without jeopardizing the planet or future generations.

Table of Contents

Many companies today prioritize building a sustainable business model that supports the environment while fostering long-term resilience and success. A green-friendly approach can reduce an organization’s environmental impact while promoting responsible resource use and positioning it as a leader in sustainability. This commitment can create lasting value because customers and employees want to work with companies that care about making a positive contribution to the world. 

Sustainability isn’t just for large corporations. Businesses of any size can work toward a sustainable business model by following specific practices and adopting a sustainable strategy.  

What is sustainability?

Sustainability refers to maintaining processes at a level that preserves resources and balances long-term environmental health. Sustainable development addresses the ability to meet current needs without compromising future generations’ ability to meet their own needs — a principle that profoundly aligns with green business practices.

However, we must dig a little deeper to understand how the concept of sustainability is relevant to business development and can be a powerful driver of innovation and resilience.

What is a sustainable business model?

To Rex Freiberger, CEO of Superlativ Media, a sustainable business model generates value for everyone involved without draining the resources that help to create it.

“A business model meant to capitalize on a trend isn’t sustainable, for example, because the social resources that get it started won’t exist in years or even months,” Freiberger explained.

Lia Colabello, managing principal of Plastic Pollution Solutions, noted that there’s a difference between a sustainable business model — a business that will likely achieve profitable growth —  and a business model that prioritizes sustainability.

“A sustainable business model is what every business leader hopes to achieve — a business that will turn a profit quickly and stay afloat for the long term,” Colabello explained. “A business model that prioritizes sustainability is one that, at a minimum, considers all stakeholders, assesses and addresses environmental impacts and is transparent and thorough in its reporting.”

What makes a sustainable business model work?

There are four key elements of a sustainable business model.

1. A sustainable business model is commercially profitable.

You can make a profit and be socially responsible . No business can succeed or scale unless it attracts customers. What is your value proposition? Who are your target audiences ? Why is your business valuable and what niche do you fill?

2. A sustainable business model can succeed far into the future.

A trendy business or one that relies on limited resources may be profitable for a few months, but how will it fare in a year or two? Resource availability and pricing are never guaranteed or fixed; you don’t want to build your castle on a sinking rock. 

3. A sustainable business model uses resources it can depend on for the long term.

You can’t have a sustainable business model without sustainable resources. Many business activities are limited by finite resources or exceptionally high prices. Meanwhile, some resources may be readily available yet environmentally harmful. 

Palm oil is a famous example of a cheap and plentiful resource. However, farmers are razing acres of land and causing severe environmental destruction by cultivating the crop. Cheap resources may be tantalizing for business but consider the big picture instead of taking a shortcut now.

4. A sustainable business model gives back.

One theory is that a truly sustainable business model is one that gives as much as it takes. This concept is called the cyclical “borrow-use-return” model.

Bob Willard, expert and author on quantifiable sustainability strategies, contrasts this model with the current “linear take-make-waste model” that so many modern businesses are built upon, which he describes as “culpable for contributing to [this world’s] unsustainability.”

Instead of taking from the Earth, a sustainable business “borrows” resources with the intent to replenish them. This concept of responsible consumption is one that both businesses and consumers can promote and practice.

What is a sustainable strategy?

A sustainable strategy takes the big picture into account. “A sustainable strategy is one that understands the flow of ‘in’ and ‘out’ — not just cash flow, but again, the resources, both tangible and intangible, that are required to create the product or service,” Freiberger explained.

Colabello noted that the most effective sustainability strategies start with an organization’s purpose. She encouraged businesses to ask the following questions, similar to what you’d ask when crafting a vision or mission statement :

• Why does the organization exist?
• What problem is it solving?
• How is it going to improve the world, environment and society?

“From there, a strategy can emerge that engages the entire brand ecosystem — internally, the supply chain, its communities and its industry,” Colabello explained. “The approach is prioritized and diagrammed out, complete with goals, KPIs [key performance indicators] and a timeline. These are communicated both internally and externally, in keeping with transparency.”

Why do we need sustainable business models?

There are many ways to approach the issue of sustainability, but the simplest one, which can unite all stakeholders, is this: Kind businesses attract more customers. According to the 2024 Global Buying Green report , 79 percent of consumers are actively looking for sustainable packaging and 82 percent are willing to pay more for these products.

It’s OK to be open about your sustainability goals and use your sustainability as a selling point. Customers will ask and the friendlier you are about it, the more likely they will be to share that news with their friends.

But maybe you’re not motivated entirely by money. Perhaps you’re driven by the desire to be the change you’d like to see in the world. 

After all, the larger a business grows, the greater its impact is on the world and the people around it. It’s better to start sustainably than to make the switch 10 years down the line — or when stakeholders begin pushing back on unsustainable business practices.

How can you start and maintain a sustainable business model?

Getting started with a sustainable business model can be straightforward. Consider the following guidelines. 

1. Plan your resource usage. 

Consider the resources your business requires to operate and then do the following:

• Make a list of the raw materials you’ll need. This list will vary dramatically by business type. Software-as-a-service companies, for example, don’t require the raw resources that clothing brands do.
• Consider where your materials might be sourced. Who is making or harvesting your product materials? How are they sourced and sold?
• Consider where the resources are coming from and how they are being transported. How far do they have to travel to arrive at your home or warehouse? How can you cut down on fuel miles? What are the riskiest resources on your list and how can you increase their productivity while lessening your dependence on them?

After you address your resource usage, outline your manufacturing and business processes. Ask yourself these questions:

• Which manufacturing processes are the most wasteful? How can you mitigate the adverse effects of these processes?
• For physical materials, is it possible to source locally?
• How are you packaging your products ? (Sustainable, biodegradable packaging can reduce the amount of trash stuck in landfills.)
• Which materials on your list are the riskiest or least sustainable? How might you replace them? Could you replace them now?
• What are the end products of these processes? How can you reuse waste material? Does it have to be thrown away?
• Can the produced waste be used as a resource or be fed into a different process to be used again? How can you reduce unusable waste?
• Where can you reduce waste? How can you stretch your raw materials? Can you lower the number of resources used to create a specific product while maintaining its quality?
• What are the labor conditions like? Are your laborers being paid fairly? Is their quality of life improving or worsening because of your business processes? Is their time being respected?

2. Consider alternative forms of company ownership.

The traditional top-down business model can create unreasonable wage gaps between those at the highest rungs of the ladder (CEO, other C-suite executives , founders, managers) and those at the lowest (laborers tasked with creating raw materials or carrying out the manufacturing processes). Including everyone in your sustainability goals can help you keep your business on track and give those who are typically disadvantaged a larger say.

3. Engage your customers.

Going green can strengthen your company’s reputation among consumers, but your dedication to sustainability may result in higher prices. But that’s OK; in a compelling blog post, series of posts or dedicated brand story page, tell your customers why they’re paying more for your products.

You might choose to engage customers by pledging a percentage of revenue to support a charity or by offering different shipping or packaging options. Customers who love your product can be converted into brand ambassadors when you create messaging that resonates with them. 

If you involve your customers in your discussions about sustainability, they will become more invested in your company’s success and your products. You could also consider crowdsourcing sustainability ideas from consumers through a forum or online group.

What roadblocks are there to a sustainable business model?

Building a sustainable business can be daunting. If your business is stuck, you may struggle with one or more of these issues:

1. You hold innovation meetings, but ideas don’t go anywhere.

Many good ideas arise when founders or leaders get together at a workshop or meeting. However, you must nurture these ideas and draft a plan of action.  

2. Ideas are not implemented.

Another issue founders face is that their plans for change are never implemented. This could be because changing the status quo seems too challenging or because the company’s members aren’t yet convinced of the need for a greener, kinder business model.

3. The implemented business models fail in the market.

Two of the most common reasons businesses fail to move toward sustainability include the wrong mindset and a reluctance to dedicate resources to change.

To address these issues, find your allies — those who believe sustainability is essential for the company’s bottom line and the larger world — and connect with them. Together, you can remove or alter harmful, outdated systems and encourage innovation.

Practicing and following through with your sustainability goals helps consumers feel closer to you and instills more trust in your brand. This is crucial at a time when customers expect more warmth and honesty from companies.

Why is sustainability important in business?

Shel Horowitz, an expert on green and transformative business profitability, raised three points about why sustainability is crucial in business:

• Sustainability allows you to be here decades from now because you’ve created something of lasting value.
• Sustainability makes you much more attractive in the eyes of customers, employees and other stakeholders who actively want to do business with companies that think beyond the single bottom line.
• Sustainability helps the planet and its creatures heal from the abuse humans have piled on it, especially in the past 250 years or so.

Aside from businesses’ immense environmental impact, Colabello noted several forces putting pressure on companies to build robust sustainability strategies:

How is a business sustainable?

Freiberger believes a business can become sustainable by focusing on the bare essentials it needs to survive and then growing from there. He advises making long-term projections and keeping an eye on the distant future instead of focusing on more immediate profits.

As part of making your business sustainable, consider the following statistics from the Plastic Oceans to determine where you can cut back to reduce your business’s carbon footprint :

• A plastic bag has an average working life of 15 minutes.
• Over 500 billion plastic bags are used worldwide each year.
• More plastic has been produced over the last 10 years than during the previous century. 
• Some estimates show that more than 10 million tons of plastic is dumped into the ocean each year.

If you are thinking about implementing a sustainable business model, consider the short-term expenses you will incur. However, these costs are a small price to pay for a better future and a compelling brand value for increasingly eco-conscious consumers. In other words, sustainability sells.

Jamie Johnson contributed to this article. Source articles were conducted for a previous version of this article. 

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Why You Need Sustainability in Your Business Strategy

• 06 Nov 2019

In today’s ever-evolving world, debating whether to incorporate sustainability into your business strategy is no longer an option. Considering a values-driven approach when developing business strategies can be vital to long-term success.

Before getting into why sustainability is essential to successful business strategies, it's important to define what sustainability in business is.

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What Is Sustainability in Business?

In short, sustainability in business refers to the effect companies have on the environment or society.

A sustainable business strategy aims to positively impact one or both of those areas, thereby helping address some of the world’s most pressing problems.

Some of the global issues that sustainable business strategies help to address include:

• Climate change
• Income inequality
• Depletion of natural resources
• Human rights issues
• Fair working conditions
• Racial injustice
• Gender inequality

Although it may sound like it, sustainability in business is not purely altruistic. As Harvard Business School Professor Rebecca Henderson notes in the online course Sustainable Business Strategy , you can't use business to do good in the world if you're not doing well financially. Doing well and doing good are intertwined, and successful business strategies include both.

Many of today’s firms have adopted the triple bottom line , which suggests that organizations should focus on more than just profits, or the “bottom-line,” and also measure their environmental and social impact. These focuses can be referred to as “the three Ps,”: people, planet, and profit. Quite often, this sustainable approach to business ultimately boosts business performance.

Why Is Sustainability Important?

In addition to driving social and environmental change, sustainability initiatives can contribute to an organization's overall success. It may seem counterintuitive that spending more money on sustainable business practices can boost a company’s profitability, but studies show that the most sustainable companies are also the most profitable.

Environmental, social, and governance (ESG) metrics are often used to determine how ethical and sustainable an organization is. According to McKinsey , companies with high ESG ratings consistently outperform the market in both the medium and long term. While sustainability strategies might be an investment in the short term, they can lead to long-term benefits.

Benefits of Sustainability in Business

1. you’ll protect your brand and mitigate risks.

Ending up on the front page because of a scandal is a CEO’s worst nightmare. Not only do improper practices damage an organization’s reputation and cost it customers, but dealing with a public relations disaster can divert valuable human and financial resources from the core business.

You don’t want to become the company that allowed an oil spill or forced employees to work in unsafe conditions. By instituting a sustainable strategy that protects the environment and your workers, you also protect yourself from any damaging incidents.

2. Being Purpose-Driven Is a Competitive Advantage

Sustainability doesn't detract from business goals, and infusing your company with purpose can help attract a motivated, skilled workforce that drives financial success . In a Facebook Live discussion , Henderson noted a recent study showing that 89 percent of executives believe an organization with shared purpose will have greater employee satisfaction. Additionally, 85 percent say they're more likely to recommend a company with strong purpose to others.

Making your company an organization that does good in the world—rather than just a place that provides a paycheck—can be a competitive advantage when attracting the best talent.

Related : HBS Professor Explores the Impact Purpose Can Have on Your Organization

3. There's a Growing Market for Sustainable Goods

A 2019 study found that 73 percent of global consumers are willing to change their consumption habits to lessen their negative impact on the environment, and sustainable product sales have grown by nearly 20 percent since 2014. Millennials in particular are more willing to pay more for products that contain sustainable ingredients or products that have social responsibility claims. If your organization commits to sustainable products and practices, it could gain market share by converting sustainability-minded customers and increasing sales.

4. Cooperative Action Can Drive Change

As an individual, it can feel overwhelming, isolating, or simply impossible to effect change in a meaningful way. That’s not the case when the most innovative, successful, and powerful companies are collaborating to solve some of the world’s most pressing problems. While governments struggle to address public goods problems, purpose-driven companies working together to address these issues have experienced great success.

For example, palm oil is cheap, versatile, and found in about half of all packaged products, including soap, lipstick, and ice cream. But palm oil production has resulted in record greenhouse gas emissions and contributed to climate change.

In light of this, consumer goods producer Unilever committed to only using palm oil from certified sustainable sources in 2008. The organization cooperated with its competitors—as well as governments, NGOs, and indigenous peoples’ organizations—to lead an industry-wide adoption of sustainable palm oil. As a result, Unilever continues to be a thriving organization, and the world has reaped the environmental benefits of sustainable palm oil harvesting practices.

The Value of Sustainability

Sustainability doesn’t mean sacrificing profits or putting success on the backburner. Instead, it has become a crucial element to any organization’s successful strategy. A business that doesn't factor in sustainability risks is less successful in several measures, including profitability, growth, and employee retention.

By integrating sustainability into your business strategy , you can find success because, rather than in spite, of sustainability.

Do you want to take a more values-driven approach to business? Explore our three-week online course Sustainable Business Strategy and learn how organizations can succeed financially while also playing a role in solving some of the world’s most pressing problems.

This post was upated on March 22, 2021. It was originally published on November 6, 2019.

About the Author

7 Step Process to Build A Sustainable Business Model

• Entrepreneurship
• Environment

This post may contain affiliate links. See our disclosure about affiliate links  here .

Table of Contents

In a world increasingly conscious of environmental and social issues, building a sustainable business model has become a moral obligation and a smart strategic move. This 7-step guide will walk you through creating a sustainable business model that can thrive in a rapidly changing landscape while positively impacting the world.

Understanding the Importance of a Sustainable Business Model

Before delving into the details of creating a sustainable business model, it’s crucial to understand it. “a business model is a framework that summarizes how a corporate creates, delivers, and captures its business operations.” 

Why is Sustainability Crucial for Businesses?

Sustainability has evolved from a buzzword to a fundamental business concept in recent years. It’s crucial for several reasons:

• Mitigating Risks: Sustainable practices help to reduce environmental and social risks, which can impact a company’s business model for sustainability.  
• Meeting Consumer Expectations: Modern consumers are increasingly inclined to approach businesses that align with their values. Sustainability can be a crucial selling point.
• Regulatory Compliance:  Many regions have stringent environmental regulations. A sustainable business model helps ensure compliance.
• Long-term Viability: Sustainable practices are more cost-effective in the long run and contribute to a company’s relevance and its achievement of sustainable development goals in a changing world.

The Benefits of a Sustainable Business Model

A sustainable business model offers various benefits, such as:

• Enhanced brand reputation and customer loyalty
• Improved financial performance through cost savings
• Access to new markets and business model’s
• Attraction and retention of top talent

Step 1: Evaluating Your Current Business Model

Assessing the strengths and weaknesses of your business model.

Start by evaluating your current business model. Identify what’s working right and what needs improvement. Consider factors like your revenue streams, customer segments, and distribution channels.

Identifying Opportunities for Improvement

Look for opportunities to incorporate sustainability into your existing model. Are there ways to reduce waste, use renewable resources, or enhance social responsibility?

Considering Environmental, Social, and Economic Factors

It’s essential to balance environmental, social, and economic factors to create a sustainable business model. Consider the impact of your business practices on the welfare of people while ensuring financial viability.

Step 2: Defining Your Sustainable Business Strategy

Aligning sustainability goals with overall business objectives.

Your sustainability strategies should align seamlessly with your overall business objectives. Ensure that sustainability is integrated into your mission and vision.

Developing a Clear Vision for Sustainability

Create a clear and inspiring vision for sustainability strategies within the corporation. 

Setting Measurable Targets and Key Performance Indicators

To track your progress, establish measurable targets and key performance indicators (KPIs) related to sustainable business model innovation. 

Step 3: Incorporating Sustainability into Your Supply Chain

Evaluating the environmental impact of your supply chain.

Examine your supply chain to identify areas where you can reduce its environmental impact. This may involve sourcing eco-friendly materials, optimizing transportation, and reducing waste.

Engaging Suppliers and Stakeholders in Sustainable Practices

Collaborate with suppliers and other stakeholders to ensure they also embrace sustainable practices. Encourage transparency and cooperation in your supply chain.

Implementing Sustainable Procurement Strategies

Adopt sustainable procurement strategies to ensure that the products and services you source are environmentally and socially responsible. Consider certifications and standards that support sustainability.

Step 4: Innovating Your Business Model

Exploring business model innovations for sustainability.

Innovation is critical to building a sustainable business model. Explore innovative ideas that align with sustainability, such as new revenue streams, business partnerships, or product innovations to transform your business. 

Utilizing Technology and Digital Solutions

Easy digital solutions to develop a sustainable business. From data analytics for resource optimization to online platforms for reducing waste, technology can be a powerful enabler as your business grows. 

Considering Circular Economy Principles

The circular economy, which focuses on reusing, repairing, and recycling, is a model well-aligned with sustainability. Look for opportunities to incorporate circular economy principles into your business.

Step 5: Developing a Sustainable Business Model Canvas

Understanding the business model canvas framework.

The Business Model Canvas is a strategic tool for developing and visualizing your business model. It has nine fundamental building blocks: customer segments, value proposition, and revenue streams.

Identifying Key Components for a Sustainable Business Model

When applying the Business Model Canvas to sustainability, identify how each component contributes to your sustainable business model. For example, your value proposition might highlight eco-friendly products.

Mapping Out Value Propositions and Revenue Streams

In your canvas, map out how your value propositions and revenue streams are interconnected with your sustainability efforts. This will help clarify the relationships between different aspects of your business.

Step 6: Implementing and Monitoring the New Business Model

Creating an action plan for implementation.

Develop a comprehensive action plan for implementing your new sustainable business model. Assign responsibilities, set timelines, and allocate resources accordingly.

Establishing Key Performance Indicators to Track Progress

Monitor your progress using the KPIs you established earlier. Regularly assess the impact of your sustainability initiatives and make necessary adjustments.

Continuously Monitoring and Adapting the Model

Sustainability is an ongoing journey. Continuously monitor your sustainable business model, adapt to changes in the business environment, and remain flexible.

Step 7: Scaling and Reaping the Benefits of a Sustainable Business Model

Expanding sustainability efforts to capture market opportunities.

As your sustainable business model proves successful, consider expanding your sustainability efforts to capture new market opportunities. This can lead to increased growth and profitability.

Enabling Long-term Growth and Resilience

A sustainable business model is an investment in your company’s long-term growth and resilience. It ensures your business remains relevant and competitive in a changing world.

Building Partnerships and Collaborations for Greater Impact

Collaborate with other businesses, organizations, and stakeholders to maximize the impact of your sustainable initiatives. Collective efforts often lead to more remarkable positive change.

Building a sustainable business model is not just about doing good; it’s about creating a profitable and resilient business ready to thrive in a changing world. By following this 7-step guide, you’ll be well on your way to making a positive impact while ensuring the long-term success of your business.

Final Thoughts 

In a dynamic, sustainable development, the imperative of a sustainable business model is undeniable. It’s the essence of how a corporation functions and creates values. The future is promising as businesses tailor the sustainable business model archetypes to their unique value propositions. Small or large corporations are increasingly incorporating sustainable innovations into their business operations. They’re realizing that profit must align with social and environmental progress. Every business council can contribute toward sustainable business development. 

Q: What is a sustainable business model?

A: A sustainable business model refers to conducting business that considers the long-term impact on the environment, society, and the economy. It focuses on creating positive social and environmental outcomes while generating economic value.

Q: What is business model innovation?

A: Business model innovation involves changing or modifying the existing business model of a company to create new value or address emerging challenges. It often involves identifying new revenue streams, improving efficiency, or adopting new technologies or processes.

Q: What are the critical steps to building a sustainable business model?

A: The following are the seven critical steps to building a sustainable business model:

1. Define your purpose and values

2. Assess your current businessBuilding a Sustainable Business Model: A 7-Step Guide model

3. Identify social and environmental impacts

4. Set meaningful sustainability goals

5. Develop a sustainable value proposition

6. Implement sustainable practices throughout the organization

7. Monitor and measure progress

Q: How can I assess my business’s social and environmental impacts?

A: To assess the social and environmental impacts of your business, you can conduct a thorough evaluation of your operations, supply chain, and stakeholder engagement. This may include analyzing your carbon footprint, waste generation, social contribution, and engagement with local communities and employees.

Q: How can I implement sustainable practices throughout my organization?

A: Implementing sustainable practices requires aligning company policies, processes, and culture with sustainability objectives. This may involve investing in renewable energy, reducing waste and pollution, promoting sustainable procurement, and integrating sustainability into decision-making processes.

Q: Are there any challenges in building a sustainable business model?

A: Yes, building a sustainable business model can come with challenges. These may include resistance to change, high upfront costs of implementing sustainable practices, the need for innovative thinking, and the complexity of aligning multiple stakeholders’ interests.

Q: Can a sustainable business model lead to profitability?

A: Yes, a sustainable business model can lead to profitability. By addressing social and environmental challenges, companies can uncover new opportunities, attract socially conscious customers, reduce costs, and enhance their brand reputation. However, it may require initial investments and a long-term perspective.

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